Kinmen, May 29 (CNA) The Kinmen County government said Saturdaythat it welcomes a partly Chinese-funded joint venture that willbuild a resort and shopping center on the island of Kinmen.
The Investment Commission under the Ministry of Economic Affairsapproved the project on Thursday, in which a Chinese company fromFujian Province plans to invest about NT$50 million (US$1.56 million)to set up a company with a Taiwanese partner on the offshore island.
The joint venture -- which will be 49 percent owned by theFujian-based company and 51 percent by the Taiwanese side -- will bethe first time a Chinese company has invested in Taiwan's tourismindustry.
Hsiao Yung-ping, an official at the Kinmen Industrial Developmentand Investment Promotion Commission, said that the company is eyingthe increased number of tourists traveling via the direct transportlinks between the Chinese city of Xiamen and the Taiwanese islands ofKinmen and Matsu -- the so-called "mini-three-links."
Kinmen County's efforts to make itself an island of medicaltourism and leisure travel also provide a lot of businessopportunities, he added.
Hsiao said that Kinmen County offers various investmentincentives and will provide assistance to companies in need.
(By Ni Kuo-yen and Fanny Liu)