TBAC generates record-high investment

2015/09/04

Taiwan Business Alliance Conference concluded Sept. 2 in Taipei City, with 66 foreign firms pledging record investment of NT$156 billion (US$4.76 billion) expected to create more than 15,000 jobs in the country over the next few years.

During the opening ceremony, President Ma Ying-jeou said since its launch in 2003, the annual event has attracted steady streams of investment from more than 600 multinationals.

“I urge more foreign businesses to follow suit and take advantage of Taiwan’s highly efficient industrial clusters, innovative R&D capabilities, premium investment environment, as well as its convenient and friendly living environment.”

Echoing Ma’s remarks, Minister of Economic Affairs Deng Chen-chung said the conference continues to be an excellent platform for domestic and international decision-makers, industry experts and venture capitalists to seek out opportunities for investment cooperation.

Staged by the MOEA at Taipei International Convention Center, the conference attracted over 700 academics, business leaders, experts and officials from home and abroad. The one-day event also featured keynote speeches, panel discussions and presentations on the experiences of foreign firms operating in Taiwan.

Another highlight was the signing of letters of intent between the MOEA and 20 global heavyweights, which agreed to invest a total of NT$100 billion going forward.

Mostly based in Europe, Japan and the U.S., the firms’ scopes of business encompass biomedical, chemical materials, financial services, furniture, pharmaceuticals, retailing, semiconductor and tourism. They include Decathlon from France, Lam Research Corp. from the U.S., Merck KGaA from Germany and Novartis Pharmaceuticals from Switzerland.

According to Deng, the strength of Taiwan’s key high-tech industries like display panels and semiconductors is the major reason behind Lam Research and Merck to increase their stake in the country.

“Investors are also optimistic about the potential of the local pharmaceutical and tourism industries,” he said, adding that other factors cited by the signatories include the government’s commitment to trade liberalization and local manufacturing prowess.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=234568&ctNode=413)