The Investment Commission has given the green light to two foreign firms for investment in Taiwan. The search giant Google has been approved to spend NT$26 billion on growing its data center operations. Orsted, a Danish energy firm, has the go-ahead to invest an additional NT$12 billion in its local wind farm project. Officials say Taiwan is also benefiting as Taiwanese firms pull out of China to invest back home. At an investment forum, Minister Without Portfolio Kung Ming-hsin spoke to representatives of small and medium enterprises looking to invest in Taiwan.Kung Ming-hsinMinister without portfolioI am also very confident that next year, Taiwan''s economy will do even better than it''s doing this year. This will mainly be due to the capital from overseas Taiwanese companies. As I mentioned, the total amount invested this year will surpass N$700 billion this month.Taiwanese businesses abroad are investing in Taiwan, and so are foreign firms. On Monday, the Investment Commission approved an application from Orsted to invest an additional NT$12 billion in offshore wind power. That same day, it approved an application from Google to invest NT$26 billion to expand its data center''s operations.Voice of Gordon SunTaiwan Institute of Economic ResearchOver the course of last year and this year, the U.S.-China trade war has prompted foreign tech firms to pull capital out of China. These firms are using Taiwan as a replacement site, or a place where they can prepare to pivot. As a result, their investments in Taiwan have increased substantially.Su Jain-rongFinance ministerIn the wake of the U.S.-China trade war, there will be a reoriented industry chain. Taiwan could emerge as an industry chain for the U.S. and Asia. It could become a very important core base.The Ministry of Economic Affairs says that from January to September this year, the number of foreign investment cases in Taiwan grew year-on-year by 1.5%. The total amount invested rose by 9.37%. This year, returning investments are on track to surpass last year''s US$11.4 billion and to mark a new high.
The Investment Commission has given the green light to two foreign firms for investment in Taiwan. The search giant Google has been approved to spend NT$26 billion on growing its data center operations. Orsted, a Danish energy firm, has the go-ahead to invest an additional NT$12 billion in its local wind farm project. Officials say Taiwan is also benefiting as Taiwanese firms pull out of China to invest back home. At an investment forum, Minister Without Portfolio Kung Ming-hsin spoke to representatives of small and medium enterprises looking to invest in Taiwan.Kung Ming-hsinMinister without portfolioI am also very confident that next year, Taiwan''s economy will do even better than it''s doing this year. This will mainly be due to the capital from overseas Taiwanese companies. As I mentioned, the total amount invested this year will surpass N$700 billion this month.Taiwanese businesses abroad are investing in Taiwan, and so are foreign firms. On Monday, the Investment Commission approved an application from Orsted to invest an additional NT$12 billion in offshore wind power. That same day, it approved an application from Google to invest NT$26 billion to expand its data center''s operations.Voice of Gordon SunTaiwan Institute of Economic ResearchOver the course of last year and this year, the U.S.-China trade war has prompted foreign tech firms to pull capital out of China. These firms are using Taiwan as a replacement site, or a place where they can prepare to pivot. As a result, their investments in Taiwan have increased substantially.Su Jain-rongFinance ministerIn the wake of the U.S.-China trade war, there will be a reoriented industry chain. Taiwan could emerge as an industry chain for the U.S. and Asia. It could become a very important core base.The Ministry of Economic Affairs says that from January to September this year, the number of foreign investment cases in Taiwan grew year-on-year by 1.5%. The total amount invested rose by 9.37%. This year, returning investments are on track to surpass last year''s US$11.4 billion and to mark a new high.
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