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MOEA Has Decided to Step up Effort in Soliciting Foreign Investments

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Core prompt:   To bolster economic development and improve foreign investments,the Ministry of Economic Affairs(MOEA)has decided to step up effort in soliciting foreign investments,such as acquisition by foreign

 

To bolster economic development and improve foreign investments,the Ministry of Economic Affairs(MOEA)has decided to step up effort in soliciting foreign investments,such as acquisition by foreign strategic investors.As a result,it has set the goal for global investment solicitation next year at NT$367 billion,up 5%from this year's level,which includes US$10 billion for overseas Chinese and foreign investments and NT$50 billion for returning Taiwanese businesses.
 
A ranking economic official noted that due to existence of uncertain factors,mainlanders are not a mainstream force in foreign investors;therefore,the MOEA only aim to keep mainland investments next year at this year's level;as of July,mainlanders had invested US$133 million in Taiwan.
 
In order to achieve the goal of foreign investments next year,in addition to the solicitation of strategic foreign investors,the MOEA will also encourage investments by bellwether mainland firms,organize overseas investment solicitation delegations,and solicit overseas Taiwanese businesses returning to Taiwan for investments.
 
An MOEA official pointed out that the amount of direct foreign investments in Taiwan is limited,reaching only US$3.6 billion a year,a far cry for such investments among neighboring Asian nations,according to statistics of the United Nations.
 
The MOEA planned to join forces with certified public accountants,lawyers,and investment banks in pushing strategic foreign investors to make acquisitions in Taiwan.In view of their extensive reach,CPAs,lawyers and investment banks can help the government pinpoint potential investors.
 
The MOEA official noted that the government will especially encourage foreign strategic investors to invest in the six emerging industries,such as biotech,tourism,green energy,medical care,sophisticated agriculture,cultural innovation,and 10 major service businesses.
 
The official reported that the government will encourage mainland Chinese bellwether enterprises to invest in such fields as LED(light emitting diode),wireless city,low-temperature logistics,TFT-LCD,and electric cars.The government will relax the restriction forbidding mainland Chinese investors to have"control power"in their investments,especially in the fields of service sector and public engineering works.
 
 
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