Foreign direct investment (FDI) in Taiwan fell to US$9.14 billion last year, down 18.32 percent from 2019, the Investment Commission said yesterday.
The government last year approved 3,418 FDI projects, down 17 percent from a year earlier, it said.
“Although total investment fell last year, the figure was still the sixth-highest on record,” it said in a release.
Last year saw the fourth-highest FDI value in the past 10 years, after US$11.4 billion in 2018, US$11.2 billion in 2019 and US$11 billion in 2016, it said.
“The commission still considers it a vote of confidence by foreign investors in Taiwan,” it said.
UN Conference on Trade and Development statistics showed that FDI decreased by up to 40 percent worldwide last year, while Taiwan only saw a moderate decrease thanks to its success in containing the COVID-19 pandemic, the commission said.
Commission data showed that 2,182 foreign companies received approvals to establish branches in Taiwan last year, contributing an aggregate US$590 million.
Investment by companies in countries targeted by the government’s New Southbound Policy totaled 515 cases, 20.16 percent fewer than in 2019, the data showed
In terms of value, they totaled US$380 million, down 65.23 percent from a year earlier, it showed.
Ninety Chinese firms received approvals to invest in Taiwan, down 37 percent from 2019. However, in terms of value, total investment jumped 329.98 percent to US$126 million, the data showed.
The commission approved 475 applications by Taiwanese firms to invest in China, down 22.1 percent from 2019, the data showed
However, in terms of value, total investment rose 41.54 percent to US$5.9 billion, it showed.
Overseas investments by Taiwanese firms surged 72.31 percent to US$11.8 billion, led by Taiwan Semiconductor Manufacturing Co (台積電) investing US$3.5 billion in a factory in Arizona, the commission said.
Additional reporting by CNA
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