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TSMC contributes the most in local investment

TAIPEI, Taiwan -- Local private investment totaled NT$666.5 billion in the first half of 2014, while Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) made the largest contribution among all companies, said the Ministry of Economic Affairs (MOEA).

The MOEA held a meeting yesterday with the aim of attracting more business to make investments in Taiwan. MOEA Vice Minister Shen Jong-chin (沈榮津) was briefed about local investment in the meeting.

According to the MOEA, TSMC made more than NT$50 billion in investments to ready new manufacturing facilities in the Hsinchu Science Park in the second quarter alone. MOEA officials said that TSMC began the investment drive last year. Other electronics information firms have also been acquiring new machinery and expanding facilities, the MOEA added.

As of June, the amount of private investment nationwide reached 51.27 percent of the NT$1.3 trillion goal set for the whole year by the MOEA.

With the economy warming up, a number of companies are planning to extend their investment, and the MOEA is upbeat about achieving the investment goal set for 2014.

Investment Across Industries

According to MOEA officials, there are several major ongoing investment projects, but they declined to disclose the amounts and names of the companies making the investments. The MOEA did disclose that investment amounts are growing by the quarter.

Across various industries, investment amounts in the electricity supply sector reached NT$3.3 billion, achieving about 67 percent of the MOEA's target goal. Investment in the wholesale, retail and logistics sector totaled NT$41.8 billion, reaching about 56 percent of the target. Investment in the electronics information sector amounted to NT$271.2 billion, reaching roughly 54 percent of the goal.

Investment in the metal machinery sector, the technical service sector, and the consumer goods and chemical sector, reached 50 percent, 49 percent and 48 percent of the target amount, respectively.

South Korea's FTA with China

South Korea and China are set to ink a free trade agreement (FTA) by the end of 2014. When asked if the pact will affect Taiwanese companies' investment progress, the MOEA says that the FTA is unlikely to affect investment immediately, as investment decisions are usually formed after thorough analysis, and therefore, are unlikely to change course just because of the FTA variable.

The FTA's impact will be felt over a longer timeframe in the future, the MOEA said, adding that if the Cross-Strait Trade in Goods Agreement can be finalized before the FTA between China and South Korea is inked, it will offset some of the FTA's ramifications.

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