Tue, Oct 14, 2003 - Page 4 News List

MOTC to open 18 projects to overseas investors

CNA , TAIPEI

The Ministry of Transportation and Communications is offering 18 investment projects for foreign investors to allow foreign capital and technologies access to the nation's infrastructure development, a top ministry official said yesterday.

Vice Minister of Transportation and Communications Chang Chia-chu (張家祝) said the 18 projects -- including the development of exclusive areas of the high-speed railway, electronic toll booths along freeway systems and the electrical engineering work for the MRT system to connect Taipei and CKS International Airport -- will allow foreign companies opportunities to cooperate with local businesses.

Chang denied allegations made by People First Party (PFP) Legislator Lee Hung-jun (李鴻鈞) that the projects are just money-making opportunities for foreign companies, rather than investment opportunities which would provide long-term economic benefits and industrial development.

The projects include the development of an air cargo transportation complex in Taoyuan near the CKS airport, the building of a freeway system in eastern Taiwan, the development of the Peiyi Freeway connecting Taipei and Ilan County, the expansion of Keelung, Taichung and Kaohsiung seaports and the development of five new tourist attractions around the country.

The ministry made the offer in line with a series of investment projects that the Executive Yuan will formally announced during an investment promotion conference -- the 2003 Taiwan Business Alliance Conference -- to be held Oct. 19 to Oct. 22.

The symposium is aimed at drawing more investment to Taiwan to help improve infrastructure and increase the country's investment incentives.

It is being sponsored by the Executive Yuan and organized by the Ministry of Economic Affairs, the China External Trade Development Council and the Central News Agency.

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