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June 28, 2017

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Economic Ministry to further deregulate foreign investment

TAIPEI--The Ministry of Economic Affairs (MOEA) is moving toward further easing the restrictions on foreign investments, but a date has not been set for the next stage of opening to Chinese investment, Economics Minister Shih Yen-hsiang said yesterday.

"The ministry is still seeking the views of the relevant agencies and we expect to move in the direction of further liberalization," Shih said.

He was responding to news reports that foreign investments will be liberalized as fully as possible and China's flat panel and semiconductor sectors will be included in the next stage of investment liberalization, following President Ma Ying-jeou's promise in his National Day address Wednesday to eliminate investment barriers, the reports said.

The current regulations that stipulate prior approval for foreign and overseas Chinese investments will be changed to allow investors to inform the authorities afterwards, Shih said.

He said the question of whether to allow foreign investment in key technology sectors such as the flat panel and semiconductor industries is still being considered. The major consideration will be the interests of the country and the industries, he said.

A review team will also look at which areas of the industries should be opened to foreign investment, he added.

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