Investment pledges already at 76% of target: MOEA
Taiwanese firms abroad have already pledged NT$40.4 billion to Taiwan-based projects, or 76 percent of the government’s target for 2015, the Ministry of Economic Affairs (MOEA, ) said yesterday.
Between January and May, overseas Taiwanese firms committed NT$40.4 billion to homebound investment: 76 percent of the NT$53.5 billion annual target set by the Economics Ministry.
The MOEA released the figures yesterday at its investment forum for Taiwan firms operating overseas.
The one-day event drew over 350 Taiwanese business representatives, half of whom had expressed interest in a “salmon run,” according to Vice Minister of Economic Affairs Cho Shih-chao ( ).
About 42 percent were based in mainland China, 13 percent in Southeast Asia and 13 in Canada or the United States.
The Zhejiang-based Yeongguan Group ( ) has committed NT$3 billion for a wind turbine plant in Greater Taichung, according to data from the Economic Ministry’s Department of Investment Services ( ).
Other pledges include NT$1.94 billion from Jih Lin Technology Co. ( ) to establish headquarters in Greater Kaohsiung, and NT$10 billion in first-stage investment from Everlight Electronics Co. (
) to build an LED packaging plant in Miaoli County.
Rise in Service Sector Investment
The MOEA, which encourages the pledges each year, said it has seen a rise in the number of overseas Taiwanese investors from the service sector.
Vivian Lien ( ), director general of the Department of Investment Services, said homebound investment has primarily come from manufacturing companies.
“But the service sector’s proportion increases year by year, and from that we can send the trend of quantity causing a shift in quality ( ),” she said.
“Sectors that are returning of course are those within Taiwan’s strengths, including electronics and related industries, such as semiconductors.”
At the forum yesterday, Deputy General Manager Shen Chien-tzu ( ) of Hota Industrial MFG. Co. ( ) urged investors to move into services and customer solutions.
Taiwan’s industries cannot continue down the road of original equipment manufacturing (OEM), where they must survive through price-cutting measures, he said.
RCEP, TPP Could Conclude
in 2015: Cho
Also at the forum, the MOEA vice minister said Taiwan must accelerate its push toward a free-market economy to cope with overseas developments, including the possible completion of key trade bloc negotiations.
Negotiations for the Regional Comprehensive Economic Partnership (RCEP) and U.S.-led Trans-Pacific Partnership (TPP) could conclude by year’s end, making 2015 a “crucial year for Taiwan,” Cho said.