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Taiwanese textile sector leads in receiving FDI

Updated: 2012-9-27 Source: Fibre2fashion News Desk - India
The textile and machinery equipment sectors in Taiwan received the highest foreign direct investment (FDI) made by overseas Taiwanese companies during the first eight months of 2012, according to the Ministry of Economic Affairs (MOEA).
The overseas Taiwanese firms invested NT$ 25.7 billion in Taiwan¡¯s manufacturing sector during the eight-month period, the ministry said.
The Ministry said that a growing number of foreign companies owned by Taiwanese citizens are keen to invest in Taiwan due to increased business opportunities after the coming into effect of the Economic Cooperation Framework Agreement (ECFA) with China.
The Ministry also attributed the rise in FDI to the rising cost of production in China.
The MOEA is organized an investment summit on September 28 to attract more private investment in order to boost the country¡¯s economy.
It has set a target of attracting NT$ 50 billion this year, up from last year¡¯s investments of NT$ 46.9 billion.