Wednesday, May 21, 2003
The Investment Commission under the Ministry of Economic Affairs (MOEA) said that Taiwan companies still very much interested in China, receiving an average of 40 mainland investment applications every week. Taiwanese firms indirectly invested roughly US$1.42 billion in China during the January-April period, 74 percent higher than US$816 million recorded for the same period a year ago.
"We didn't see Taiwan's Chinese investment slow down drastically amid the SARS spread, but instead saw it mostly expand at a normal pace according to our initial observation in the past month," said Huang Ching Tan, executive secretary of Investment Commission of the MOEA. Applications from local businesses dropped by a mere 10 percent in late April compared with March on a weekly basis, but that number soon rebounded to an average 60 cases per week.
Sudden arrival of SARS also diverts some investment opportunity in China after many Taiwanese entrepreneurs. "We don't think that the hopefully short-lived SARS factor will hamper Taiwanese enterprises' expansion in China, as every project involves huge amounts of money that have been cautiously planned over a long time-span," Huang explained. China still offers low manufacturing costs, which make it very attractive. Many Taiwanese businessmen hoping that SARS will short-lived and they are very eager to go back to China, said Huang.
By: DocMemory
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