September 30, 2005
Despite a decline of 33.42% in the first half of the year, the value of approved foreign investment in Taiwan has begun an upturn due to increased investments over the last two months. A combined
USD 600 million in investments in July and August has given Taiwan a growth rate of 0.09% on the year for the first eight months of the year and boosted the total value of foreign investment for this period to
USD 2.3 billion, according to the
MOEA Investment Commission. This turnaround from negative to positive growth bodes well for Taiwan as the fourth quarter approaches.
This recent upturn is attributed to Taiwan's ever-strengthening information technology sector, an improving domestic investment environment and an expansion of investment promotion activities on the part of the government. Foreign investment projects in July and August were directed mainly at the
IT and financial sectors.
Among the larger investments over the last two months were a
USD 115 million investment by Himax Technologies Ltd. in Chi Mei Optoelectronics, a
USD 99.87 million investment by Texas Instruments in its facilities here and a
USD 265 million investment by Mitsui Sumitomo Insurance Co. in Mingtai Fire and Marine Insurance Co.
The
MOEA and
IDIC, which have redoubled their efforts to attract foreign investment to Taiwan this year, see this good news as a sign of things to come.
(United Daily News, Central News Agency)
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