Taipei-The value of government-approved foreign direct investment in Taiwan rose over 9 percent in the first nine months of 2019 from a year earlier, due mainly to effects of the ongoing U.S.-China trade war, the Investment Commission said Monday.
In the first nine months of this year, approved FDI in the country was nearly US$7.88 billion, a 9.37 percent year-on-year growth, while the number of approved FDI applications increased 1.5 percent from a year earlier to 2,703, commission data showed.
In September, approved FDI in Taiwan was about US$1.36 billion, a year-on-year growth of 111 percent, mainly because an investment injection of US$450 million in a project for the construction and operation of an offshore wind farm by Yunneng Wind Power Co., Ltd. in Yunlin County was approved by the commission that month.
From January to September, the electronic component sector had the largest approved foreign investment of US$2.67 billion, followed by the financial/insurance sector with US$1.5 billion, the machinery equipment manufacturing sector with US$750 million, the retail and wholesale sector with US$640 million and the electricity and gas supply sector with US$470 million.
Meanwhile, approved Chinese investment in Taiwan during the nine-month period totaled US$87.30 million, down 54.63 percent from a year earlier, the commission said.
At the same time, the value of approved China-bound investment in the first nine months of the year was US$2.82 billion, down 56.9 percent from a year earlier, due mainly to the ongoing China-U.S. trade war that has prompted some China-based Taiwanese firms to quicken their pace of returning to invest in Taiwan.
In terms of Taiwan's outbound investments (excluding China), the value reached about US$5.45 billion, down 36.82 percent from the same period of 2018.
Meanwhile, the amount of approved investment in Taiwan from countries targeted by the government's New Southbound Policy (NSP) surged 24.4 percent year-on-year from January to September to US$2.26 billion.
The 18 countries under the NSP, which was launched by the Democratic Progressive Party government after President Tsai Ing-wen (???) took office in May 2016, are the 10 member countries of the Association of Southeast Asian Nations, along with Australia, New Zealand and South Asian countries, including India.
Source: Focus Taiwan News Channel