New private investment in Taiwan’s industrial and service sectors hit NT$1.3 trillion (US$41.41 billion) in 2014, up 6.66 percent from a year ago, according to the Ministry of Economic Affairs Feb. 6, 2015.
“This figure matched forecasts,” an official from the MOEA Industrial Development Bureau said. “It reflects the handsome dividends of established government promotional policies.
“Given improving conditions at home and abroad, total new investment is set to grow another 7.69 percent to NT$1.4 trillion in 2015, including a 1.74 percent gain in foreign investment.”
Among the key sectors selected for strategic promotion last year, smart handheld devices received additional investment of NT$517.9 billion and NT$134.6 billion from component and product manufacturers, respectively.
“The government will continue working with the private sector on product and technology development,” the official said, adding that related MOEA initiatives are set to spur NT$117.2 billion in investment between 2015 and 2017.
Regarding services sector promotion, the MOEA Department of Commerce spent NT$37 million in 2014 assisting 12 business districts. This delivered NT$1.54 billion in direct investment nationwide, including Yingge in New Taipei City and Xinshe in Taichung City.
As part of ongoing efforts to fast-track industrial upgrades, the official said seven sectors with the highest marginal effects and growth potential have been identified for priority promotion.
These include fasteners, high-value petrochemicals, machine tools and semiconductors, as well as sectors characteristic of strong cluster development like hosiery and towels. “We expect such endeavors to bolster domestic investment while balancing regional development.”
MOEA statistics also show that a project implemented between November 2012 and December 2014 saw local firms operating offshore invest NT$241.1 billion at home and create more than 39,000 new jobs in the process.
Another initiative aimed at fostering small and medium enterprises in Taiwan spurred investment NT$137.6 billion from October 2012 to year-end 2014, generating 12,775 new positions for local hires.
