By: Liao Yu-yang and Evelyn Kao
Taipei, Oct. 21 (CNA) The value of government-approved foreign direct investment in Taiwan roseover 9 percent in the first nine months of 2019 from a year earlier, due mainly to effects of the ongoing U.S.-China trade war, the Investment Commission said Monday.
In the first nine months of this year, approved FDI in the country was nearly US$7.88 billion, a 9.37 percent year-on-year growth, while the number of approved FDI applications increased 1.5 percent from a year earlier to 2,703, commission data showed.
In September, approved FDI in Taiwan was about US$1.36 billion, a year-on-year growth of 111 percent, mainly because an investment injection of US$450 million in a project for the construction and operation of an offshore wind farm by Yunneng Wind Power Co., Ltd. in Yunlin County was approved by the commission that month.
From January to September, the electronic component sector had the largest approved foreign investment of US$2.67 billion, followed by the financial/insurance sector with US$1.5 billion, the machinery equipment manufacturing sector with US$750 million, the retail and wholesale sector with US$640 million and the electricity and gas supply sector with US$470 million.