Friday, June 25, 2004
The total accumulated investment value made by Taiwanese firms in China have reached US$ 1.02 billion last month, up by 129 percent compared to same time of last year, according to the Investment Commission under the Ministry of Economic Affairs (MOEA).
Three of the biggest local firms are Taiwan Semiconductor Manufacturing Company (TSMC), Hon Hai Precision Ind. Co. and AU Optoelectronics poured millions of dollar in expansion projects in China. Total Taiwanese investments in the mainland came to more than US$2.7 billion in the first five months of the year, up 56% from US$1.734 billion approved in the same period of last year.
Taiwan's mainland investments are mostly located in the coastal area. The top five invested provinces are Jiangsu, Guangdong, Zhejiang, Fijian and Hebei. Jiangsu Province received 296 investment cases, followed by Fujian Province with 287 cases.
As the official statistics showed, Fujian province has seen an increase in the small investments with a value of less than US$200,000 each since Taiwan eased the procedure for such small mainland investment projects earlier this year. An advantage of Fujian province as an investment location is the three direct mini-links opened between two ports in Fujian province and Kinmen, an offshore island of Taiwan.
Officials at the Investment Commission advised Taiwanese companies to diversify their overseas investment locations to the Southeast Asia, South Asia and Eastern Europe where the production costs are similarly competitive.
By: DocMemory
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