Smart logistics stood out among the innovative industrial activities earmarked for FEPZs, with eight high value processing projects approved by the Ministry of Transportation and Communications since August 2013, compared with nine between 2003 and 2011, the NDC said Feb. 7.
Imports and exports in the seven existing Free Trade Zones grew 38 percent year on year in 2013, with trade value rising 33 percent. Both numbers exceeded the performance target of 30 percent set for smart logistics in FEPZs.
Other activities targeted for promotion during the FEPZ implementation phase are international health care services, value-added agricultural processing, financial services and education innovation.
Concerning international health care services, output increased to NT$11.38 billion during the first 10 months of last year, up from NT$9.33 billion in 2012. It is estimated that approximately 191,000 visitors came to Taiwan for medical services in the same period.
The financial services sector also received a shot in the arm on the back of the FEPZs. Overseas institutions such as Citibank and UBS are throwing their weight behind the project, and the number of offshore banking and securities products is on the rise. A capital increase of NT$300 billion is projected for the next five years, along with NT$30 billion revenue increase for the banking corporations.
The implementation phase of the FEPZs kicked off in August 2013, covering seven existing Free Trade Zones and one agricultural biotech park. (YHC-JSM)
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