Foreign investment to create over 15,000 jobs
CNATAIPEI--In an annual business conference in Taipei on Monday, 52 foreign companies presented projects to invest in Taiwan that the Ministry of Economic Affairs (MOEA) estimate will create 15,985 jobs in the country.
October 1, 2013, 12:09 am TWN
The value of the investment plans totals NT$138.8 billion (US$4.7 billion), the highest level since the MOEA organized their annual Taiwan Business Alliance Conference in 2003, the ministry said in a statement.
Nineteen of the 52 investors signed letters of intent (LOI) with the MOEA for their investment plans, for a total value of NT$92 billion, the statement said.
Most of the investors are from Japan, the United States, the Cayman Islands and Europe, it added.
Addressing the opening of the event, Vice President Wu Den-yih described Taiwan as an investment destination rich with talent in development and innovation and unique industrial clusters, friendly to business operators, and with stable and peaceful relations with China.
Over the past 10 years, the Taiwan Business Alliance Conference has attracted around 6,000 entrepreneurs from around the world, including those from the world's top 500 enterprises, Wu said.
Many of these conglomerates have established design and development centers in Taiwan, he noted.
At the event, Economics Minister Chang Chia-juch, citing government statistics, said that Taiwan's trade-in-service revenues accounted for 70 percent of its gross domestic product in 2012, a fact that indicates Taiwan has transformed into an economy focusing equally on manufacturing and the service trade.
With the new cross-strait trade-in-service agreement signed in June, Chang said the deal will not only boost Taiwan's competitiveness but will also attract more overseas investors in the service industry to Taiwan.
The government will help investors root out investment barriers such as land acquisition, work permits and tax problems so that their investment plans can be carried out, Chang said.