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MOEA touts increase in New Southbound Policy related investment

2017/11/20 17:07:50

CNA file photo

Taipei, Nov. 20 (CNA) The latest data from the Ministry of Economic Affairs Investment Commission (MOEAIC) indicates that the number and value of inward and outward investments involving countries targeted by the government's New Southbound Policy saw year-on-year increases in the first 10 months of 2017.

According to data released by the commission on Monday, there were 107 investment projects in related countries from January to October.

This figure represents a 1.5 percent increase in number of projects for the same period of last year, while the amount invested was NT$3.484 billion (US$115.84 million), representing a 99.51 percent year-on-year increase.

Countries that saw the highest increases in investment include Australia, Thailand, the Philippines, Malaysia and Indonesia, all of which saw more than 100 percent year-on-year increases.

On the flip side, New Southbound Policy targeted countries have also stepped up their investments in Taiwan. Whether from Taiwanese living abroad or foreign nationals, investment from these countries was US$229.35 million for the first 10 months of the year, marking a 22.85 percent year-on-year increase, with 462 investment projects.

The countries with the conspicuous year-on-year increases in investment in Taiwan include Malaysia, India, Indonesia and Singapore.

Overall, although Chinese investment and foreign investment in Taiwan have both seen a year-on-year decline -- of 16.87 percent and 46.33 percent, respectively -- the New Southbound Policy, which was rolled out after President Tsai Ing-wen (蔡英文) took office in May last year, has proven its effectiveness at increasing investment between Taiwan and the targeted countries.

(By Liao Yu-yang and Kuan-lin Liu)
Enditem/AW