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Lu urges firms to look beyond China to Latin America

Vice President Annette Lu (呂秀蓮) yesterday urged Taiwanese companies to relocate some of their overseas investments from China to Latin America to "help reduce investment risks."

Addressing a colloquium held at the Chunan office of the Hsinchu Industrial Park, Lu said that so far, 71 percent of the overseas investments made by private Taiwanese companies have focused on China, which she described as tantamount to putting all the eggs in one basket.

Lu urged companies to avoid being "trapped by the Chinese authorities" and to instead invest abroad from a global perspective.

The vice president told executives of 20-odd companies from the science park who attended the colloquium to consider investing in Central and South American countries, such as the Dominican Republic, which she claimed could be a "brand new world" for Taiwanese investors in terms of making investments abroad.

Also speaking at the colloquium, Chen Cheng-chung (陳正忠), secretary-general of the International Cooperation and Development Fund (ICDF), told the high-tech company executives that Taiwan is expected to complete a second round of bilateral talks with the Dominican Republic in September on the signing of a free trade agreement between the two countries.
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