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| Taiwan to launch investment recruitment campaign |
 Following up on the signing of the cross-strait economic cooperation framework agreement (ECFA), the Council of Economic Planning and Development (CEPD) briefed the Cabinet on July 15 about a global investment solicitation plan aimed at raising Taiwan’s regional competitiveness. CEPD Minister Christina Liu said that a joint-service center for global investment recruitment established by the Ministry of Economic Affairs (MOEA) is scheduled to begin operation on August 8. The various ministries and central-government organizations were asked to submit investment proposals by July 20, from which the CEPD and other ministries would jointly select seven flagship plans. Among those expected to be incorporated into the initiative are internationalization of medical service, globalization of Taiwanese cuisine and digital convergence. The CEPD aims to attract NT$1.8 trillion in investment over the next six years.
In addition, the CEPD has scheduled investment recruitment seminars for Taipei, Taichung and Kaohsiung on August 23, 27 and 30, respectively. It will put forth a comprehensive action plan before the end of September and, in order to attract more investors, will organize a Taiwan Road Show to Japan, Singapore, Hong Kong, Europe and the United States from October to December.
As cross-strait relations have stabilized, Taiwan is fast becoming a lucrative investment destination. The MOEA announced on June 15 that direct investments by overseas Taiwanese and foreigners totaled US$2.2 billion in the first six months of 2010, an increase of 22.53 percent over the same period last year. Moreover, foreign investors are lining up to establish R&D centers on the island. According to the MOEA, after Microsoft’s decision to invest US$21 million in a “Software and Services Excellence Center” in Taiwan, Hewlett-Packard also applied for MOEA funding to build within three years a large development center that will employ 1,000 people. The MOEA has also granted approval to Sony, DuPont, Corning, Fujitsu, ASML and other multinational corporations to set up R&D centers in Taiwan.
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