Taiwan's investment agency approves multi-billion NT dollar foreign investment applications

Orsted, Copenhagen Infrastructure Partners raised capital to develop wind farms on the island

Offshore wind farm in Taiwan

Offshore wind farm in Taiwan (CNA photo)

TAIPEI (Taiwan News) — The Ministry of Economic Affairs' Investment Commission approved 13 inbound and outbound investment applications on Tuesday (Jan. 21), with billions of NT dollars' worth of funding expected to pour into Taiwan's entertainment and wind power industries.

Foreign investment deals approved by the Investment Commission include NT$240 million (US$8 million) of funding for tixCraft Inc., which provides online ticketing services, from California-headquartered Live Nation. According to the commission, the investment will be focused on expanding entertainment and culture-related businesses in Taiwan.

Requests by Orsted and Copenhagen Infrastructure Partners to raise capital — NT$24.8 billion and NT$823 million, respectively — were also given a green light. Both Danish companies have been working on wind farm projects in central Taiwan over the past few years. The investment agency said more capital could be expected to pour into the country as the development of wind energy continues.

Five cases aimed at increasing investment in China were also permitted to proceed, with estimated funding of about NT$12.6 billion, including WIN Semiconductors Corp.'s application to invest NT$332 million in a pig farming company in Jiangsu Province.

In addition, notebook manufacturer Quanta Computer has plans to put more than NT$8 billion in the manufacturing and sales of mobile communication devices in Chinese firms.