Outbound investments approved by the Department of Investment Review, excluding those to China, soared 201 percent year-on-year to US$33.67 billion in the first eight months of this year, as companies push forward global supply chain realignment, the Ministry of Economic Affairs said on Monday.
The increase was mainly driven by Taiwan Semiconductor Manufacturing Co’s (台積電) US$5.26 billion investment in its Japanese subsidiary and US$5 billion investment in its US unit, as well as Vanguard International Semiconductor Corp’s (世界先進) investment of US$2.4 billion in its Singaporean joint venture with NXP Semiconductor NV, the ministry said in a statement.
WT Microelectronics Co’s (文曄科技) US$3.98 billion investment to acquire a 100 percent stake in Canadian electronic components distributor Future Electronics Inc also boosted outbound investments in the first eight months, the ministry added.
Photo: Taipei Times
As companies continue to diversify their supply chains and reduce their dependence on China, approved investments to countries covered by the government’s New Southbound Policy surged 155.96 percent year-on-year to US$7.72 billion in the eight-month period, it said.
The government introduced the policy in 2016 to enhance trade and exchanges with 18 nations in Southeast Asia, South Asia and Oceania, including Singapore, Vietnam and Malaysia — the top three destinations for Taiwanese investors in the first eight months of this year, it said.
Major New Southbound Policy investments during the period included Vanguard International’s investment in Singapore, Siliconware Precision Industries Co’s (矽品精密) US$270 million capital injection into its Malaysian subsidiary, Taipei Fubon Commercial Bank’s (台北富邦銀行) investment of US$173 million in its branch in Ho Chi Minh City and Lite-On Technology Corp’s (光寶科技) US$120 million investment in its Vietnamese unit, the ministry said.
Meanwhile, outbound investments to China rose 32.41 percent to US$3.16 billion during the first eight months, thanks to investments by Formosa Plastics Corp (台塑), Formosa Heavy Industry Corp (台朔重工), Hon Hai Precision Industry Co (鴻海精密), AUO Corp (友達光電) and Asia Cement Corp (亞洲水泥), it said.
Foreign direct investment approved by the department totaled US$5.36 billion in the first eight months, down 29.45 percent from the same period last year, the ministry said, attributing it in part to a high comparison base the previous year.
Over the same period, approved foreign direct investment from New Southbound Policy countries fell 56.92 percent annually to US$321.5 million, while those from China dropped 29.81 percent to S$16.8 million, it said.
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