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Workshop to promote investment in Brazil

2012/05/26 12:07:01

Taipei, May 26 (CNA) The Ministry of Economic Affairs is scheduled to hold a workshop on May 28 to help Taiwanese firms gain a better understanding of Brazil, as part of efforts to help Taiwan-based businesses invest overseas.

Besides introducing the investment environment in the country and explaining support measures, the organizers will also invite some experts and officials familiar with the region to share their knowledge.

According to the International Monetary Fund, Brazil's gross domestic product in 2011 totaled US$2.52 trillion, making it the world's sixth largest economy.

With a consumer market numbering nearly 200 million people and abundant natural resources, Brazil is seen as one of the emerging markets with the most potential, according to the ministry.

In addition, Taiwan's companies can also make use of this period to invest in the South American country, as it is going to inject some US$20 billion to improve its infrastructure in preparation for the World Cup in 2014 and the Olympic Games in 2016.

Although Brazil and Taiwan have cultural, language and lifestyle differences, as well as physical distance, some 70 local companies have enrolled the workshop, Lin Su-ling, an official in charge of the event told CNA.

Taiwanese companies already investing in Brazil are mainly engaging in electronics manufacturing, metal processing and trading, according to the ministry.

Well-known enterprises, such as Hon Hai Precision Industry Co., Acer Inc. and Kinpo Group, have expressed willingness to raise their quota or add new investments in the region.

Taiwan's outward investments have gone mostly to China in the past few years. Approximately 75 percent of all outward investment was made in China in 2011.

But to diversify investment destinations and explore opportunities in other markets, the government has been encouraging local companies to invest overseas.

To encourage Taiwan's companies to have a global outlook, which is critical for a company to maintain its competitiveness, the ministry plans to hold similar events aimed at promoting investment in foreign markets later in the year.

It has already organized a workshop to promote investment in the Philippines on May 23, with participation by some 100 interested Taiwan-based firms, said Lin.

Another workshop aimed at promoting investment in Myanmar is scheduled to take place in late July, according to the ministry.

Besides collaborating with other countries to organize more investment workshops, the ministry is scheduled to lead an inspection delegation to the Philippines and Indonesia in June and to India in September.

The ministry is also planning to lead business delegations to Japan, Europe and the United States to solicit investment from those countries in Taiwan later in the year as part of efforts to meet this year's foreign direct investment target of US$10 billion.

Chiu Yi-cheh, director-general of the ministry's Department of Investment Services, said earlier that the ministry is scheduled to lead representatives from the private and public sectors to the three markets in July, September and October, respectively.

(By James Lee)