By: Huang Chiao-wen and Frances Huang
Taipei, April 5 (CNA) The local manufacturing sector last year posted the second consecutive annual decline in fixed investments amid a slowdown of the domestic economy, according to the Ministry of Economic Affairs (MOEA).
The MOEA said that falling international crude oil prices led Taiwanese petrochemical firms and coal suppliers to cut their investments, while the weakness of the global steel market prompted the local base metal business to put their investment plans on hold.
As a result, fixed investments of Taiwan’s manufacturing sector fell last year by an annual 2.3 percent to NT$959.9 billion (US$29.63 billion), after posting a 0.8 annual drop in 2014.
Fixed investments refer to investments in physical assets such as machinery, land, buildings, installations, vehicles, and technology. [FULL STORY]