CEPD luring investments to free trade zones

The move comes as Taiwan slipped from 16th place, which it held for a long time, to 17th place among the world’s largest trade nations in 2006 — putting the island at the fourth and last spot among the four “Asian little dragons,” after South Korea, Singapore and Hong Kong in terms of foreign trade value.

This has caused widespread concern in Taiwan.

To boost foreign trade, including foreign direct investment, the council is working on measures to create incentives for investors to invest at Taiwan’s free trade zones, while streamlining the administrative procedures in these areas.

The island’s five free trade areas include the four at the international harbors of Taipei, Keelung, Taichung and Kaohsiung plus the one at the Taiwan Taoyuan International Airport.

To lure leading multinational corporations to invest in the zones, CEPD officials said yesterday the council and relevant agencies will organize an overseas road show to present the investment opportunities at 13 major international cities starting in June.

The seminars abroad will be targeted at the exceptionally outstanding multinational conglomerates, especially those in the sectors of transportation services, high-tech industries, and those with close industrial connections with existing Taiwan enterprises.

Domestic investors will also be targeted. The council will team up with other government agencies, including the Ministry of Economic Affairs (MOEA) and the Ministry of Transportation and Communications (MOTC) to hold 12 investment seminars for domestic enterprises, officials said.

The MOEA and the MOTC will also pay visits to local companies considered especially suitable for making investments at the free trade areas.

Foreign investment aside, CEPD officials pointed out that both Taiwan’s exports of US$224 billion (for a 1.9 percent world share), and imports of US$203 billion (for a 1.6 percent world share), maintained the 16th place among the world trading powers last year.

But they conceded that Taiwan is presently caught between the traditionally advanced nations and the challenge from up-and-coming nations.

To cope with the mounting challenges, CEPD officials said, the key lies in accelerating the pace of industrial upgrading in Taiwan.

Among the various economic development programs worked out by the government, attracting and boosting new investments in Taiwan from all sources will be given top priority, they said.

The CEPD has established a special Web site to provide information concerning development plans and investment opportunities available at the free trade zones.

Leading shipping and logistics service companies from the U.S., Japan, South Korea, and Hong Kong have already set up business operations at these free trade areas.

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