Minister of Transportation and Communications Chen Jian-yu (陳建宇) yesterday said that the controversies surrounding the Taipei Dome have caused interested investors to reconsider participating in new public infrastructure, while many banks have indicated that they are not financing developers of these projects.
Chen made the comments on the sidelines of the ministry’s annual investment solicitation convention, organized to draw investors’ attention to 40 projects it aimed to launch this year.
The ministry said the convention yesterday drew more than 250 participants, with representatives from construction companies, consulting firms and transport and logistics service operators.
Farglory Land Development Co (遠雄建設), one of the nation’s largest property developers, which is embroiled in the dispute with the Taipei City Government over the Taipei Dome project, did not participate in the convention.
The number of participants attending the convention was about the same as in previous years, the ministry said.
Because of the dispute between the Taipei City Government and Farglory, Chen said the ministry decided to hold the investment convention earlier this year, moving it from October to this month.
He said the change sought to dismiss any doubts that investors might have about public projects, particularly if they have questions on the enforceability of contracts with the government.
Chen said that the ministry’s projects have fewer controversies with that issue, adding that the ministry followed its plan to attract investments.
Chen said the ministry has attracted several investments over the past two years through the conventions, which facilitated investments in projects from both domestic and international corporations.
The ministry helps these investors remove the potential hurdles that could come, he added.
By the end of last month, the ministry had signed contracts for six projects with the private sector, with the investment amount topping about NT$40 billion (US$1.3 billion).
The largest among them was an urban renewal project for the old Nangang District (南港) Marshalling Yard owned by the Taiwan Railways Administration (TRA).
The ministry added three flagship projects this year, with the largest being a NT$19.8 billion urban renewal project launched by TRA in Kaohsiung.
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