Taiwan Aims to Lure Foreign Investment with Comprehensive Services and Competitive Market

Strategic Insights -

Taiwan's Ministry of Economic Affairs is targeting at least 10 foreign companies from the US, Europe, Japan, and South Korea to invest in Taiwan, with plans to sign investment letters of intent in September. As part of its efforts to capitalize on a newly signed trade pact with China, the MOEA will also set up an office to provide one-stop services for foreign investors, upgrading the level of service to include comprehensive support for investment projects, venue selection, and labor-related issues. This move aims to tap into Taiwan's growing demand for cloud computing technology and its reputation as a competitive market.

Key Takeaways:

  • Taiwan's Ministry of Economic Affairs is targeting at least 10 foreign companies from the US, Europe, Japan, and South Korea to invest in Taiwan.
  • The MOEA plans to sign investment letters of intent with these companies in September, most of which will set up research and development units in Taiwan.
  • The ministry will set up an office to provide one-stop services for foreign investors, integrating it with an existing office targeting China-based Taiwanese business people.
  • The new office will be led by Deputy Minister Huang Chung-chiou and will provide comprehensive services covering investment projects, venue selection, and labor-related issues.
  • Taiwan aims to attract more foreign investment through similar agreements with its major trading partners, following the signing of the economic cooperation framework agreement (ECFA) with China.
  • Minister of Economic Affairs Shih Yen-shiang declined to offer details on the investment plans, citing the need for further discussion.
  • The MOEA's efforts come as Taiwan looks to capitalize on its growing demand for cloud computing technology and its reputation as a competitive market.

Statistics:

  • At least 10 foreign companies are being targeted by Taiwan's Ministry of Economic Affairs for investment in Taiwan.
  • September is the planned month for signing investment letters of intent with these foreign companies.
  • Taiwan aims to upgrade the level of service for foreign investors by integrating the new office with an existing office targeting China-based Taiwanese business people.
  • The MOEA's new office will provide comprehensive services for 5 key areas: investment projects, venue selection, labor-related issues, workers' visa, and family settlement issues.

Sources:

  • (CNA)
  • (Asia Pulse)