Approved FDI down almost 40% in 1st half of 2021
Taipei, July 21 (CNA) The value of approved foreign direct investment (FDI) in Taiwan in the first half of 2021 plunged almost 40 percent from a year earlier, according to the Investment Commission.
The commission said the decline reflected the COVID-19 pandemic, which has created economic uncertainty, and the relatively high base of comparison set in the first half of 2020.
Taiwan's government approved US$2.34 billion in FDI during the January-June period, down 39.09 percent year-on-year, commission data showed. The number of approved FDI plans also fell 22.22 percent to 1,313 in the six-month period.
Several major investment projects were approved in the first half of 2020 that made the base of comparison relatively high, the commission said.
They included the US$800 million investment pledged by Denmark's Orsted Wind Power TW Holding A/S in offshore wind development, US$400 million in new investment pledged by Diodes Taiwan S.A R.L from Luxembourg, and US$270 million in new investment in its subsidiary in Taiwan committed to by Japan's Kioxia Corp., the commission said.
In the six-month period, the commission said, approved investment from Southeast Asian, South Asian, and Oceanic countries totaled US$297 million, up 57.5 percent from a year earlier, with companies based in Thailand, Singapore and Australia the major investors.
Investment from China in the first half of the year fell 45.94 percent from a year earlier to US$26.79 million, also because of a relatively high baseline.
The first half of 2020 saw investment pledges of NT$224 million (US$8 million) by Swancor (HK) Investment Co. and NT$360 billion by Hong Kong's Jin Yao Development Co., the commission said.
According to the commission, it has approved US$2.44 billion in investment from China since Taiwan lifted a ban on Chinese investment on June 30, 2009.
Meanwhile, the value of Taiwan's approved foreign-bound investment fell 10.27 percent in the first half of 2021 from a year earlier to US$4.42 billion, the commission said.
But investment to Southeast Asian, South Asian, and Oceanic countries rose 58.87 percent from a year earlier to US$2.24 billion, with Singapore, Vietnam and India the most favored destinations, it said.
The value of approved investment in China by Taiwan-based companies fell 52.43 percent from a year earlier to US$1.58 billion, according to the commission.
Team Taiwan at the Tokyo Olympics, July 3007/30/2021 11:15 PM
Taiwan's Lee, Wang advance to Olympic badminton finals07/30/2021 11:08 PM
Last Taiwanese official in Hong Kong forced home07/30/2021 10:59 PM
- Science & Tech
Taiwan's ex-VP named member of Pontifical Academy of Sciences07/30/2021 10:36 PM
Lin Yun-ju's bid for historic table tennis bronze falls just short07/30/2021 10:15 PM