Investment budget to rise NT$150 bil.: MOEA
By Linger Liu, The China PostTAIPEI, Taiwan -- The budget for a major government project will be upgraded to NT$150 billion from NT$100 billion, the Ministry of Economic Affairs (MOEA) announced yesterday.
January 9, 2013, 12:09 am TWN
On Nov. 1, 2012, the Executive Yuan approved and implemented the “Project for the Strengthened Promotion of Investment by Returning Taiwanese Enterprises.”
The ministry's website states that the project aims to attract high-value manufacturing producers and competitive overseas Taiwanese enterprises to return and invest in Taiwan.
The Economic Ministry noted that the project's 2012 budget was roughly NT$110 billion. In light of this the ministry has decided to upgrade the budget to NT$150 billion for 2013.
Upgrade the Investment Budget
The ministry said it intends to boost domestic investment from NT$1.1 trillion to NT$1.2 trillion.
The Industrial Development Bureau (IDB) has already held three budget audit conferences and passed eight investment proposals, the ministry said.
The ministry released data showing that investment flows into Taiwan in 2012 reached NT$1.1078 trillion. The ministry said these figures prove that they have achieved the 2012 goal of attracting NT$1.1 trillion in investment.
The ministry said the electronic and information industries attracted the highest level of investment at NT$456 billion. Retail, logistics and transportation, computing and electronic services, metal machinery, and power supply sectors all accomplished their investment target.
The ministry said the biology industry did not attain its goal of NT$250 million in investment. This total, however, was 99.44 percent of the intended goal. It said that investments in the exhibitions and fairs industry was NT$1.9 billion, achieving a total that was only 37.6 percent of the intended goal.
According to the Department of Investment Services, there were 57 investment proposals in 2012 that were part of the project. Investment from these projects reached NT$51.9 billion.
The investment services department said they achieved 101.9 percent of their investment goal.
Yiin Chii-ming (尹啟銘), minister of the Council for Economic Planning and Development, said overseas Taiwan enterprises produce many high-valued products, and they deserve the full support from government and local industries.
He said that most industries moved their investment focus out of Taiwan between 2000 and 2007. Export orders in 1999 took 12 percent of the share of Taiwan's economic output. By 2007, he said, this share of output had increased to 46 percent.
Between 1999 and 2007, one-third of local enterprises directed their investment focus outside of Taiwan, the minister said. Thus the government hopes to see local enterprises direct their investment focus back to Taiwan, so they can help Taiwan to take a bigger share of the global export market, he said.