TAIPEI (Taiwan News) – Foreign investment in Taiwan jumped 38.9 percent during Jan.-Sept. 2018 when compared to the same period last year, totaling US$7.2 billion (NT$222.3 billion), according to statistics from Taiwan’s Ministry of Economic Affairs (MOEA, 經濟部).
Taiwan’s foreign investment boost was the result of increased investment across the board, and saw strong yields from new relationships formed as part of Taiwan’s New Southbound Policy.
U.S. research company BERI named Taiwan as the world’s third-best investment destination in August, and the World Economic Forum ranked Taiwan as first for macroeconomic stability and 13th in global competitiveness last week.
MOEA said in a statement that Taiwan approved 2,663 new investment projects in the first nine months of this year.
Taiwan saw strong growth in the establishment of new foreign-owned companies, with 1,661 being registered and investing a total of US$411.9 million during the first nine months of this year.
Companies identified as part of Taiwan’s New Southbound Policy invested a total of US$266.17 million, representing an increase of 27.3 percent in the first nine months of 2018. This figure is comprised of 468 new investments.
Thailand, the Philippines, and Australia were identified as investment growth stars, with the three countries seeing investment increases of 2,312 percent, 450 percent, and 252 percent respectively during the period.
Chinese investment in Taiwan grew more modestly, increasing 13.31 percent during the period.
The U.S.-China trade war is altering the cost of production, as well as leading to a host of new investment opportunities which have been brought about through this disruption. The MOEA previously said 24 Taiwanese companies are considering moving at least some of their production back to Taiwan, while others are setting up shop in Southeast Asia.
During a speech earlier this month, Taiwan President Tsai Ing-wen (蔡英文) pledged to make Taiwan the best destination for global investors, by building an open and dynamic investment environment.