Taiwan Sets Goal of Private Investments in Public Projects at NT$100B. for 2015

 Taiwan's private investments in public projects and constructions reached NT$96.5 billion (US$3.22 billion) at the end of September, near the goal set by the Cabinet at NT$100 billion (US$3.33 billion) for 2014.

The Cabinet says that the 2015 goal remains the same, with most of potential projects to be tendered by the governments in Taipei and Kaohsiung, the two most populous cities on the island.

A major public project for 2015  in Taipei City is the development of the surrounding area of Taipei Songshan Airport (the original international airport in Taiwan), to include an underground parking lot to replace the existing above-ground lots, a tourist hotel and shopping mall, as well as a multifunctional public square and an aviation park, with the total investment exceeding NT$20 billion (US$666.67 million).

In Kaohsiung a major public construction for 2015 is to develop the idle land along the Kaohsiung Mass Rapid Transit, expected to draw private investment of about NT$50 billion (US$1.67 billion).

To be in line with global trends, the Cabinet plans to introduce Private Finance Initiative (PFI), whose variations have been adopted in many countries as part of the wider program of privatization and capitalization  driven by increased need for accountability and efficiency for public spending. (JL)