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Chinese investment projects forecast to increase this year

Chinese investment projects forecast to increase this year

Taipei, March 20 (CNA) The number of inward investment projects from China and the total amount approved by Taiwan in January and February both declined year-on-year due to the relatively high comparison base last year, according to statistics from the Investment Commission of the Ministry of Economic Affairs (MOEA). However, this trend may be changed later this year as the number of inward foreign direct investment projects and Chinese investment projects in Taiwan are expected to increase, an executive at the commission said. Meanwhile, the number of inward and outward FDI projects in January and February registered year-on-year increases, according to the data. The statistics showed that 380 inward FDI projects with a total value of US$853.7 million were approved in the first two months this year. The number of projects increased year-on-year by 17.6 percent, while the value rose by an annual 92.94 percent, the data indicated. The Investment Commission attributed the increase to an additional investment of US$300 million by Australia and New Zealand Banking Group Ltd. (ANZ) in its Taiwan branch. The commission also approved 58 outward FDI projects, with a total value of US$1.08 billion, in January and February. This indicates an increase of 26.09 percent in the number of cases, and growth of 32.33 percent in the FDI amount, compared with the same period last year. Regarding inward investment from Mainland China, 20 cases were approved, totaling US$9.59 million, in the first two months. This represents a decrease of 20 percent in the number of investment projects and a drop of 90.61 percent in the FDI amount, compared with the same period in 2012. (By Lin Meng-ru and Y.L. Kao)