The 18 nations targeted by the government’s New Southbound Policy between January and last month invested US$230 million in Taiwan, a 22.85 percent increase from last year, statistics released by the Executive Yuan’s Office of Trade Negotiations showed.
The nations made 462 investments during the period and accounted for NT$42.66 million in additional revenue for local businesses compared with the same period last year, the data showed.
The policy covers the 10 ASEAN member states, as well as India, Pakistan, Bangladesh, Sri Lanka, Nepal, the Kingdom of Bhutan, New Zealand and Australia.
By investment amount, Singapore ranked first in the 10-month period with US$122.99 million, followed by Malaysia, which invested US$70.65 million and Australia, with US$28.26 million.
From May last year — when President Tsai Ing-wen’s (蔡英文) administration took office — to August this year, the countries made 681 investments totaling US$330 million.
Within this group, Singapore’s economic power makes it the most capable of making foreign investments, said a senior Executive Yuan official, who spoke on condition of anonymity.
Singapore has not only invested in Taiwan, but also in China, the official said, adding that Singapore treats foreign investment as a way to keep its economy robust.
Malaysia, which made the greatest leap in investment, is also in a favorable position to invest overseas, the official said, adding that it has well-developed information technology and e-commerce sectors, which complement Taiwan’s industries, the official said.
India ranked second in terms of investment growth at 67 percent, followed by Cambodia, at 63 percent, Indonesia at 48 percent and Singapore, which invested 39 percent more, the statistics showed.
Myanmar and Pakistan reduced their investment the most, investing just US$15,000 and US$61,000 in Taiwan respectively, about half the amount they invested during the same period last year.
Chinese Nationalist Party (KMT) Chairman Eric Chu (朱立倫), spokeswoman Yang Chih-yu (楊智伃) and Legislator Hsieh Lung-chieh (謝龍介) would be summoned by police for questioning for leading an illegal assembly on Thursday evening last week, Minister of the Interior Liu Shyh-fang (劉世芳) said today. The three KMT officials led an assembly outside the Taipei City Prosecutors’ Office, a restricted area where public assembly is not allowed, protesting the questioning of several KMT staff and searches of KMT headquarters and offices in a recall petition forgery case. Chu, Yang and Hsieh are all suspected of contravening the Assembly and Parade Act (集會遊行法) by holding
PRAISE: Japanese visitor Takashi Kubota said the Taiwanese temple architecture images showcased in the AI Art Gallery were the most impressive displays he saw Taiwan does not have an official pavilion at the World Expo in Osaka, Japan, because of its diplomatic predicament, but the government-backed Tech World pavilion is drawing interest with its unique recreations of works by Taiwanese artists. The pavilion features an artificial intelligence (AI)-based art gallery showcasing works of famous Taiwanese artists from the Japanese colonial period using innovative technologies. Among its main simulated displays are Eastern gouache paintings by Chen Chin (陳進), Lin Yu-shan (林玉山) and Kuo Hsueh-hu (郭雪湖), who were the three young Taiwanese painters selected for the East Asian Painting exhibition in 1927. Gouache is a water-based
Taiwan would welcome the return of Honduras as a diplomatic ally if its next president decides to make such a move, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said yesterday. “Of course, we would welcome Honduras if they want to restore diplomatic ties with Taiwan after their elections,” Lin said at a meeting of the legislature’s Foreign Affairs and National Defense Committee, when asked to comment on statements made by two of the three Honduran presidential candidates during the presidential campaign in the Central American country. Taiwan is paying close attention to the region as a whole in the wake of a
OFF-TARGET: More than 30,000 participants were expected to take part in the Games next month, but only 6,550 foreign and 19,400 Taiwanese athletes have registered Taipei city councilors yesterday blasted the organizers of next month’s World Masters Games over sudden timetable and venue changes, which they said have caused thousands of participants to back out of the international sporting event, among other organizational issues. They also cited visa delays and political interference by China as reasons many foreign athletes are requesting refunds for the event, to be held from May 17 to 30. Jointly organized by the Taipei and New Taipei City governments, the games have been rocked by numerous controversies since preparations began in 2020. Taipei City Councilor Lin Yen-feng (林延鳳) said yesterday that new measures by
RSS