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.
SECURITY: Starlink owner Elon Musk has taken pro-Beijing positions, and allowing pro-China companies to control Taiwan’s critical infrastructure is risky, a legislator said Starlink was reluctant to offer services in Taiwan because of the nation’s extremely high penetration rates in 4G and 5G services, the Ministry of Digital Affairs said yesterday. The ministry made the comments at a meeting of the legislature’s Transportation Committee, which reviewed amendments to Article 36 of the Telecommunications Management Act (電信管理法). Article 36 bans foreigners from holding more than 49 percent of shares in public telecommunications networks, while shares foreigners directly and indirectly hold are also capped at 60 percent of the total, unless specified otherwise by law. The amendments, sponsored by Chinese Nationalist Party (KMT) Legislator Ko
The eastern extension of the Taipei MRT Red Line could begin operations as early as late June, the Taipei Department of Rapid Transit Systems said yesterday. Taipei Rapid Transit Corp said it is considering offering one month of free rides on the new section to mark its opening. Construction progress on the 1.4km extension, which is to run from the current terminal Xiangshan Station to a new eastern terminal, Guangci/Fengtian Temple Station, was 90.6 percent complete by the end of last month, the department said in a report to the Taipei City Council's Transportation Committee. While construction began in October 2016 with an
NON-RED SUPPLY: Boosting the nation’s drone industry is becoming increasingly urgent as China’s UAV dominance could become an issue in a crisis, an analyst said Taiwan’s drone exports to Europe grew 41.7-fold from 2024 to last year, with demand from Ukraine’s fight against Russian aggression the most likely driver of growth, a study showed. The Institute for Democracy, Society and Emerging Technology (DSET) in a statement on Wednesday said it found that many of Taiwan’s uncrewed aerial vehicle (UAV) sales were from Poland and the Czech Republic. These countries likely transferred the drones to Ukraine to aid it in its fight against the Russian invasion that started in 2022, it said. Despite the gains, Taiwan is not the dominant drone exporter to these markets, ranking second and fourth
The New Taipei City Art Museum this weekend plans to celebrate its first anniversary with a two-day extravaganza featuring live concerts and a large-scale synchronized fireworks and drone display, the New Taipei City Cultural Affairs Department said. The two-day celebrations are to take place in the museum’s outdoor park, with markets and live performances by singers including Ann Bai (白安), Bii (畢書盡) and the Cosmos People (宇宙人), the department said. The highlight on both evenings would be the "Echoes of Light" show, an aerial spectacle combining fireworks and drone performances designed around the concept of "dual stages in the sky," it
RSS