Foreign direct investment (FDI), excluding that from China, increased 78.34 percent year-on-year to US$1.69 billion in the first two months of this year, the Ministry of Economic Affairs said yesterday.
Taiwan's FDI calculations were based on foreign firms’ investment applications — to incorporate local subsidiaries, establish joint ventures, inject cash into local units or acquire domestic companies — approved by the Department of Investment Review.
The ministry attributed the 78.34 percent annual increase to substantial investments by foreign offshore wind energy developers.
Photo: Liao Chia-ning, Taipei Times
During the first two months, the department approved Danish wind energy developer Copenhagen Infrastructure Partners’ application to increase the capital of CI Fengmiao Ltd (哥本哈根基礎設施渢妙股份) by NT$22.08 billion (US$668.99 million) to operate offshore wind farms off the coast of Taichung, the ministry said.
The department also approved an application from Orsted Wind Power TW Holding to invest an additional NT$3.59 billion into its local unit to finance its wind farm operations off the coast of Changhua County, the ministry said.
Additionally, MEMC Korea Co, a subsidiary of GlobalWafers Co (環球晶圓), gained permission to launch a Taiwanese unit for NT$6.57 billion, it said.
As for approved investment from China, aggregate value in the first two months jumped 2,746 percent from a year earlier to US$96.28 million, which the ministry attributed mainly to Hong Kong-based Garuda International Ltd (鵬鼎國際) gaining approval to raise investment for its Taiwanese unit, Garuda Technology Co (鵬鼎科技), by NT$3 billion.
Garuda Technology’s business is focused on the production of flexible printed circuit boards and the provision of surface-mount technology services, the ministry said.
Approved outbound investment from Taiwanese firms, excluding that to China, plunged 70.73 percent year-on-year to US$1.16 billion in the first two months, while China investments dropped 61.6 percent to US$223.95 million, it said.
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