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Planned investment in Taiwan by overseas investors surge in Q1

2018/04/20 19:23:29

Taipei, April 20 (CNA) The total value of approved investment projects by Taiwanese expatriates and foreign investors grew 105.43 percent in the first quarter of the year from the same period in 2017, according to statistics released Friday by the Investment Commission under the Ministry of Foreign Affairs.

A total of 786 Overseas Chinese and Foreign Investment applications were approved from January to March, with the total value at US$2.247 billion, the highest Q1 level in 10 years, the commission said.

Commission spokesperson Yang Shu-ling (楊淑玲) said the growth shows overseas investors have confidence in Taiwan's comprehensive economic development. "The Investment Commission expects growth in foreign investment this year," she said.

According to Yang, approved direct foreign investment (DFI) plans include one by Japan's Itochu Corp. to buy a stake in Taipei 101 for US$665 million and German-based financial services company Allianz increasing its investment in Allianz Taiwan Life Insurances to US$600 million.

Yang also attributed the planned DFI growth to wind farm investments and the rise in investment by investors from Southeast Asian nations, India, New Zealand and Australia -- target countries in the government's New Southbound Policy.

In the first three months of the year, the planned investment from New Southbound Policy target countries reached US$59.7 million, representing a year-on-year growth of 3.05 percent, government statistics show.

(By Liao Yu-yang and Elizabeth Hsu)
Enditem/AW