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Business forum draws record foreign investment commitment (update)

Business forum draws record foreign investment commitment (update)

Taipei, Sept. 2 (CNA) The Taiwan Business Alliance Conference held Wednesday in Taipei attracted record investment commitments from foreign companies, according to the Ministry of Economic Affairs.
A total of 20 foreign companies signed letters of intent with Economics Minister John Deng in which they committed to invest NT$100 billion (US$3.08 billion) in Taiwan over the next three years.
The previous investment record of NT$97 billion was set at last year's conference, according to the ministry, which organized the event.
In all, 66 foreign companies expressed interest in making new investments in Taiwan, which, if they come to fruition, would amount to NT$156 billion and create 15,355 jobs in the coming years, the ministry said.
"The Ministry of Economic Affairs is confident that everyone attending this conference will find new opportunities to invest in Taiwan," Deng said during his opening remarks at the annual conference.
President Ma Ying-jeou said Taiwan has become an attractive location for foreign investment because of the country's highly integrated supply chain, ability to innovate, high-quality labor force and friendly living environment.
The 20 foreign companies that signed letters of intent Wednesday consisted of nine from the service sector and 11 from the manufacturing sector.
Six of the companies are based in the United States, four are from Europe, and 10 are from other Asian countries.
According to ministry figures, the companies making the investment commitments have delivered on their pledges at a 91.6 percent rate over the past three years.
(By Jeffrey Wu)


Updated : 2021-09-21 14:27 GMT+08:00