Taiwan Business Quick Take

Staff writer, with CNA

Mon, Apr 23, 2018 - Page 15

INVESTMENT

FDI hits record first quarter

The total value of approved investment projects by Taiwanese expatriates and foreign investors grew 105.43 percent year-on-year to US$2.25 billion in the first quarter, the highest January-to-March figures in 10 years, the Investment Commission said on Friday last week. Commission spokesperson Yang Shu-ling (楊淑玲) said the approved foreign direct investments (FDI) include Itochu Corp buying shares in Taipei Financial Center Corp (台北金融大樓) for US$665 million, German-based Allianz SE increasing its investment in Allianz Taiwan Life Insurance Co (安聯人壽) to US$600 million and wind farm investments.

TRADE

Firms to save with tariff deal

Nicaragua’s removal of tariffs on three types of industrial products from Taiwan — paper or paperboard labels of all kinds, rubber or plastic footwear, and metal furniture — went into effect yesterday, which could save Taiwanese businesses a grand total of US$57,218 per year, an estimate by the Customs Administration found. The expansion of benefits under a decade-old bilateral free-trade agreement was implemented in Taiwan and Nicaragua earlier this year, the Bureau of Foreign Trade said on Friday last week.

ELECTRONICS

P20 Pro lands in Taiwan

Huawei Technologies Co (華為) on Thursday last week launched the P20 Pro in Taiwan. It is the world’s first smartphone to have three cameras and is touted as a game changer in mobile photography. Xunwei Technologies Co (訊崴), Huawei’s exclusive distributor in Taiwan, said that the P20 Pro accumulated preorders totaling about 100 million yuan (US$15.88 million) just 10 seconds after its Web site went live in China.