Taiwan has met 76% of its annual goal for investment by Taiwanese businessmen returning from overseas.
The economics ministry says that from January to May, returning Taiwanese businessmen have invested over NT$40 billion (about US$1.3 billion) in Taiwan. The goal for this year is NT$ 53.5 billion (US$1.73 billion).
Some major investments include a NT$10 billion investment by Everlight Electronics and a NT$4.5 billion investment by Shenmao Technology.
Most of the investment was in the manufacturing industry, but some companies also invested in the service industry. Economics ministry official Lian Yu-ping explains.
"Investment in the service industry is increasing in proportion. We can see that Taiwanese investors are changing from a focus on quantity to quality," Lian said. "The main industries are the ones Taiwan is strong in such as the electronics industry, including the semi-conductor industry."
Investors say that Taiwan’s strengths are low-interest rates and world class talent. But they say that Taiwanese industries can’t rely on low prices to compete anymore. They need to provide solutions for clients.
The economics ministry has been working to lure Taiwanese businessmen to return to Taiwan and invest since September 2006. Since then, they’ve attracted 672 cases and NT$360 billion (US$11.6 billion) in investment, creating over 65,000 jobs.