MOEA to Solicit Foreign Investments in Taiwan's 4 Promising Industries

In line with governmental policy on industrial upgrading and transformation,  Taiwan's Ministry of Economic Affairs will step up soliciting foreign investments in the nation's four  industries seen to have potential for national development, including offshore wind turbines, electric commercial vehicles, mobile broadband services and semiconductor production equipment.

So the MOEA confirms plans to send delegations to Japan, Europe, the U.S. and other nations starting September to attract foreign investors, as well as promote bilateral cooperation.

Led by MOEA deputy minister, Woody Duh, the first delegation will leave for Japan to attract investments in Taiwan's free economic pilot zones, with the second to be led by the other deputy minister, J.C. Shen, to head for  Europe to mainly focus on building partnerships in key technologies.

MOEA officials say that the delegation to Japan will very likely bring investments to the offshore wind turbine sector, given that Japanese operators generally lack experience in setting up offshore wind turbines but possess well-developed technologies and eagerly seek cooperation with overseas wind farms. Taiwan therefore is ideal for Japanese investors interested in trial operation of offshore wind turbines.

Taiwan Semiconductor Manufacturing Co., Ltd., a global-scale semiconductor and IC foundry, announced factory expansion plans of over NT$300 billion (US$10 billion), to involve a major deal of advanced equipment, MOEA therefore looks to attract more foreign investors in key materials to Taiwan, to help bolster development of homegrown semiconductor equipment to reduce dependence on imports.

Eying considerable growth potential of domestic market demand for electric commercial vehicles to replace conventional gasoline-driven vehicles in the next decade, the MOEA targets the sector as attractive to foreign investors.

With Taiwan in its infancy to develop the 4G communication industry, the MOEA will also focus on encouraging foreign investors who can provide strong R&D momentum to help local ICT (information and communication technology) firms to create a smart logistic environment. (SC)