Foreign direct investment (FDI) fell 25.1 percent year-on-year in the first 10 months of the year to US$7.3 billion, the Investment Commission said yesterday.
Denmark-based Orsted Wind Power TW Holding A/S topped the list, with the government approving its plan to inject NT$18 billion (US$624.57 million) into its local wind power unit, Orsted Taiwan Ltd (沃旭能源), the commission said in a statement.
A total of 2,901 foreign investment projects were approved in the first 10 months, down 11.8 percent from a year earlier, it said.
The number of newly approved companies was 1,876, accounting for US$458 million in investments, it said.
The number of investment projects from countries that are part of the government’s New Southbound Policy was 448, down 17.5 percent year-on-year, with total investments reaching US$325 million, down 62.9 percent, it said.
The commission approved 83 investment cases from China during the period, a decline of 31.4 percent. However, in terms of value, total investments grew 36.9 percent to US$124 million.
As for outbound investments, 440 cases were approved in the first 10 months, down 22 percent, but up 19 percent in value to US$7 billion, the commission said.
Yageo Corp (國巨) led the list, investing US$1.4 billion in Yageo Holding Hungary LLC and US-based Kemet Corp. Fong Chun Formosa Fishery Co (豐群水產) followed, investing US$775 million in US-based Bumble Bee Foods, LLC.
There were 146 approved outbound investments to New Southbound countries, a decrease of 33.3 percent and 10.5 percent in terms of value to US$2.2 billion.
The commission approved 387 China-bound investments, down 22 percent year-on-year.
However, the amount surged 47 percent to US$4.8 billion, led by Grand Pacific Petrochemical Corp (國喬石化) with US$376 million.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
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PROJECTION: TSMC said it expects strong growth this year, with revenue in US dollars projected to grow by about 30 percent, outperforming the industry Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales last month reached NT$317.66 billion (US$9.98 billion), the highest ever for the month of February, driven by robust demand for chips built using the company’s advanced 3-nanometer (3nm) process. Last month’s figure was up 22.2 percent from a year earlier, but fell 20.8 percent from January, the world’s largest contract chipmaker said in a statement. For the first two months of the year, TSMC posted cumulative sales of NT$718.91 billion, up 29.9 percent from a year earlier. Analysts attributed the growth to sustained global demand for artificial intelligence (AI) products
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