The Ministry of Economic Affairs yesterday announced amendments to the Regulations for Verification of Investment by Overseas Chinese and Foreign Nationals (華僑及外國人投資額審定辦法) to facilitate foreign investment in Taiwan.
Foreign investors can now use foreign currencies to fund investments in Taiwan, Investment Commission spokeswoman Yang Shu-ling (楊淑玲) told the Taipei Times by telephone.
Once their investment applications are approved, they can wire transfer the sum in foreign currencies instead of having to change them into New Taiwan dollars, sparing them the hassle and potential delays that often occur due to verification procedures and exchange rate fluctuations, Yang said.
“It is up to investors to decide whether they want to exchange the sum to NT dollars,” she said.
Investors funding investments via installments can file separate applications or just once when the application is approved, a move that should help lower their administrative costs.
“All that they [investors] need to make sure is to file [an application] within two months’ time after each installment,” Yang said.
The amendments, which also include other measures to reduce red tape, take effect today.
In separate news, the ministry on Monday approved an application by JYR Aviation Components Co (朝宇航太), a subsidiary of local screw manufacturer Jau Yeou Industry Co (朝友工業), to join a government program encouraging small and medium-sized enterprises to increase investment in Taiwan.
To expand its production and international clientele, JYR is to invest NT$500 million (US$16.1 million) to build a new plant in Kaohsiung’s Lujhu District (路竹), which would create an estimated 270 job opportunities, the ministry said.
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