Investment by foreign financial and insurance firms up 99.7% in 2005

March 23, 2006

While Taiwan's electronics companies have been the focus of much foreign investment over the years, figures released in mid March by the Directorate General of Budget, Accounting and Statistics reveal that it’s the country's maturing financial sector that is now drawing the largest portion of investment from overseas. Foreign investment in financial and insurance companies in Taiwan shot up an impressive 99.7% to USD 1.62 billion in 2005 compared to 2004.

Overall, foreign investment in Taiwan rose a modest 7% on the year to a total of USD 4.23 billion last year. Making up around 38% of this total, investments in financial and insurance firms accounted for the greatest part of foreign investment in Taiwan in 2005.

Taiwan's electronics industry drew USD 860 million in investments from overseas, while the wholesale retail sector attracted USD 610 million. These sectors accounted for the second and third largest shares respectively of foreign investment last year.

Investments from companies based in the Caribbean region, up 22% on the year to USD 1.09 billion, made up the biggest share of last year's foreign investment. The United States and Japan accounted for the next largest portions of this investment, at USD 800 million and USD 720 million respectively.

(Central News Agency)

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