Taipei (CNA) Foreign direct investment approved by the government in January fell more than 49 percent from a year earlier, thanks to a relatively high comparison base over the same period of last year, the Investment Commission said on Saturday.
Data released by the commission showed that the January approved FDI fell 49.07 percent from a year earlier to US$508.12 million, but the figure remained the second-highest in a decade.
The commission said the high comparison base in January 2020 came largely after Danish renewable developer Ørsted injected large funds into Taiwan's offshore wind farm business.
In January, the commission approved 228 FDI applications, down 45.19 percent from a year earlier, with most of the applications coming from Germany, the British Caribbean Territories, Japan, Samoa and the United States.
According to the commission, the approved number of cases to set up new companies by foreign investors hit 137, valued at US$842 million in January, including 43 investment plans from countries under the government's New Southbound Policy, down 15.69 percent from a year earlier.
In terms of value, investments from countries under the New Southbound policy rose 94.05 percent from a year earlier to US$24.63 million, with companies from Indonesia, Singapore and Malaysia as the main investors, the commission said.
The New Southbound Policy is aimed at reinforcing economic ties with the Association of Southeast Asian Nations (ASEAN) member states, India, Australia and New Zealand, in a bid to reduce Taiwan's dependence on China.
The commission said approved investments from China totaled US$1.51 million in January, down 34.12 percent. Since Taiwan lifted a ban on Chinese investment in June 2009, it has approved US$2.4 billion in funds from China, according to the commission.
In terms of Taiwan's approved investments in China, the combined value fell 53.55 percent from a year earlier to about US$250 million in January, the commission said, adding that the decline reflected a US$200 million investment plan from notebook computer ODM services provider Quanta Computer Inc. in Jiangsu Province's Changshu last year.
The commission said approved foreign-bound investment from Taiwan hit US$377 million in January, down 50.58 percent from a year earlier in the wake of a US$553 million plan by wire and cable supplier Walsin Lihwa Corp. to increase its investment in its subsidiary in Hong Kong in January 2020.
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