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2013 investments reach NT$1.2 trillion, exceeding targets

TAIPEI -- Taiwan received over NT$1.2 trillion (US$39.72 billion) worth of private investments in 2013, amounting to 101.9 percent of the year's target, the Ministry of Economic Affairs said Friday.

The electronics and IT industry brought in half of the investment total with NT$511.8 billion, or 105.54 percent of the target set by the government for the sector, official data showed.

Metal and mechanical industries, meanwhile saw NT$300.1 billion invested — 100.05 percent of the government's target — while consumer goods and chemicals brought in NT$281.4 billion — 100.50 percent of the industry group's annual target.

Despite exceeding the target, Economics Minister Chang Chia-juch said there is much room for improvement and that he hopes for a "major breakthrough" in trade this year.

The priority over 2014 will be normalizing and regulating cross-strait trade, he said, driven by a recently signed service trade pact and an under-negotiation trade-in-goods agreement with China.

Given the performance this year, next year's target will be raised to NT$1.3 trillion: NT$500 billion to electronics and information industries, NT$330 billion to metal and mechanical industries, and NT$300 billion to consumer goods and chemical industries.

Meanwhile, the ministry said that Taiwanese investors operating overseas have repatriated NT$181.1 billion to Taiwan for investment in 85 projects.

The Department of Investment Services said that investment by foreign business reached NT$10.51 billion, or 100.1 percent of its target.

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