Foreign investment in Taiwan down in first five months

Taiwan government approved US$2.160 billion of inward foreign investment in January through May, down 19.65 percent from the same period in 2000, according to data released by the Investment Commission (投審會) under the Ministry of Economic Affairs yesterday.

In May alone, inward foreign investment approvals amounted to US$632.633 million, up 84 percent on the year, data indicated.

The number of approved applications rose 7 percent on year.

Approved Taiwanese overseas investment in the first five months reached US$2.024 billion, up 39 percent from the corresponding period in 2000, while outward investments in May alone rose 166 percent on the year to US$479.849 million.

The number of approved applications in the January through May period rose 64 percent on the year.

The Investment Commission also approved US$1.068 billion worth of indirect investment in China in January through May, up 33 percent on the year. Investment approvals to China in May alone stood at US$260.555 million, up 55 percent on the year.