The Ministry of Economic Affairs bagged NT$50 billion-plus (US$1.66 billion) in investment pledges from foreign corporations during the Taiwan Business Alliance Conference Oct. 19, signaling a resounding vote of confidence in the nation’s robust business environment.
MOEA Minister Shih Yen-shiang said 34 firms will invest in Taiwan over the next three years. “This commitment enables the companies to capitalize on business opportunities stemming from the country’s redefined role in the global economic landscape.”
The event, which was held at the Taipei International Conference Center, attracted nearly 500 participants, including ROC President Ma Ying-jeou, foreign dignitaries and business leaders.
According to Shih, the government has designated 32 specific sectors for strategic development over the next decade as part of plans to build Taiwan into a global innovation center and operations hub for the Asia-Pacific region.
“We invite signatories to take advantage of their partnerships with local firms and Taiwan’s healthy business climate to make inroads into regional markets,” he said.
Based in 15 countries spanning the Americas, Asia Pacific and Europe, the firms’ scopes of business encompass biotechnology, healthcare, logistics, manufacturing, R&D and real estate development.
Some of the signatories such as Dell Inc., DHL International GmbH and Novartis AG are long-time Taiwan business partners and planning major local expansions. A number of firms, though, will be making their first investments in Taiwan, including Japanese retail store developer Daiwa House Industry Co. Ltd. and Argentinean biotechnology firm Biogenesis Bago S.A.
Shih said many of the companies have expressed an interest in basing their R&D activities in Taiwan, a trend demonstrating that government efforts to develop Taiwan into a knowledge-based economy are paying off.
“We are setting the table for these firms to successfully do business in Taiwan,” he said, adding that the MOEA will continue implementing measures and streamlining regulatory procedures to facilitate additional foreign investment in Taiwan. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw