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Business forum draws record foreign investment commitment (update)

Business forum draws record foreign investment commitment (update)

Taipei, Oct. 8 (CNA) The Taiwan Business Alliance Conference was held Wednesday in Taipei and attracted record investment commitments from foreign companies, according to the Ministry of Economic Affairs. A total of 23 foreign companies signed letters of intent with Economics Minister Duh Tyzz-jiun at the conference, representing a total investment commitment of NT$97 billion and 9,600 jobs in the next three years. The previous investment record of NT$92 billion was set at last year's conference, according to the ministry, which organized the event. In all, 61 foreign companies expressed interest in making new investments in Taiwan, which, if they come to fruition, would inject NT$148 billion (US$4.87 billion) into Taiwan's economy and create 15,210 jobs in the coming years, the ministry said. "It is our wish that both multinational and domestic enterprises will continue to expand their investment in Taiwan," Duh said during his opening remarks at the conference, which was attended by more than 800 business representatives. "The MOEA (Ministry of Economic Affairs) promises you that we will continue to optimize Taiwan's operating and investment environment, ensuring that Taiwan will always remain the best choice for your investment," Duh said. The 23 foreign companies that signed letters of intent Wednesday included seven from the service sector and 16 from the manufacturing sector. Nine of the companies are based in the United States, six are from Europe, and eight are from other Asian countries. The biggest investment commitment came from Victoria Cruises Inc., a New York-based cruise company, which plans to invest NT$20 billion to build an international cruise hub in Taiwan to facilitate its operations in Asia. The project is expected to create 500 jobs. (By Jeffrey Wu)