A Ministry of Economic Affairs-organized investment promotion tour of Singapore and Malaysia wrapped up Aug. 25 in Kuala Lumpur, securing commitments of NT$5 billion (US$165.77 million) from several industry heavyweights across a wide range of sectors in Taiwan over the next three years.
Involving MOEA officials and representatives of think tanks such as Taipei City-based Chung-Hua Institution for Economic Research and Commerce Development Research Institute, the five-day tour included visits to five major players in the automobile, e-commerce and food services sectors. In addition, two investment seminars were staged in Singapore and Kuala Lumpur attracting around 160 participants from top firms in the region.
According to the MOEA, the tour was an outstanding opportunity to bring businesses in the two countries up to speed on the array of trade openings stemming from the government’s economic development strategies such as the five-plus-two innovative industries initiative and New Southbound Policy.
In Singapore, the MOEA signed letters of intent with Pan Asia Logistics Singapore Ltd. and auto parts-maker Tan Chong International Ltd. The former agreed to set up a shipment handling center in Taiwan, while the latter will expand its distribution network capacity and establish a local supply chain.
Other highlights included visits to Government of Singapore Investment Corp. and Singapore Venture Capital and Equity Association, with both entities pledging to encourage institutional investors to seek strategic collaboration and investment opportunities in Taiwan’s innovative industries.
During the Malaysian leg of the tour, the MOEA inked a letter of intent with Purple Cane Enterprise Sdn. Phd. under which the food services group will set up shop in Taiwan as part of its strategy to tap the East Asian and ethnic Chinese markets.
Source: Taiwan Today