Economics Minister Wang Mei-hua says that Taiwan is continuing to attract investment, even as investment worldwide drops 40% due to COVID-19.
On Wednesday, Wang said that as of July, Taiwan had already attracted US$37 billion in investment this year just from Taiwanese companies looking to bring their overseas operations home.
Wang said that while Taiwan did attract less foreign investment from January to August than it did during the same period last year, this does not indicate an overall slump in foreign investment. She said that the bar had simply been set high due to a significant investment of NT$66 billion (US$2.10 billion) last August from US-based chipmaker Micron Technology. Wang said that August this year has actually seen the third-highest amount of monthly foreign investment in Taiwan’s history.
Wang also said that this year has seen Taiwan attract large-scale investment from firms based in Denmark, Luxembourg, and Japan.