DOIS Increases Promotion of Investment in Service Industries in Taiwan

June 21, 2006

The Department of Investment Services (DOIS) has created measures to increase the promotion of service industry investment in Taiwan, particularly in the financial services sector.

According to statistics by the MOEA Investment Commission, from January to February of 2006, approved foreign direct investment (FDI) cases amounted to over USD 5.74 billion. Not including Philips' recent purchase of Philips Taiwan's shares in Taiwan Semiconductor, FDI in Taiwan saw an increase of 169.05% over the previous year. Of these investment projects, there was a large-scale increase in foreign participation in mergers and acquisitions in financial services, logistics and other service industries in Taiwan.

Based on the Service Industry Development Guidelines and Action Program of the Council for Planning and Economic Development, the DOIS is reviewing ways to bring more investment to Taiwan in 14 service industries, including financial services such as securities and insurance.

The following actions are being taken to promote service industry investment:

1. Establishing contact windows: establishing 14 different service industry contact windows, tracking the latest development in service industry foreign investment projects, and helping all service industry competent authorities attract investment.

2. Reports on large foreign investment projects in the service industries will be submitted at every quarterly meeting of the MOEA International Investment Task Force.

3. Large foreign investment projects in the service industries will be added to the agenda of the vice-minister's yearly investment delegation.

4. Inter-agency coordination: for example, in cooperating with the Financial Supervisory Commission on attracting overseas investment, the MOEA would provide information on the overall economy and investment environment, while the FSC works to bring foreign investment into Taiwan's finance industry.

5. The DOIS will strengthen strategic approaches to attracting service industry investment, conduct further on research on merger and acquisition networks among multinational companies and plan a contact and implementation mechanism for multinational companies engaging in mergers and acquisitions in Taiwan. DOIS will especially devote its efforts to the financial services industry, as well as the areas of broadcasting and assets management.

6. The MOEA International Investment Task Force invite the competent authorities of the service industry to attend its quarterly meetings, and discuss cooperation and implementation on attracting service industry investment.

7. For the Taiwan Business Alliance Conference on Oct. 12, 2006, the MOEA will hold panel discussions on financial services and logistics, which will be hosted by the FSC and MOEA Department of Commerce. The two organizations will focus on promoting foreign investment in these industries in Taiwan.

(Department of Investment Services)

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