Taiwan `goes South'<\/p>\n
MANILA (Reuter): Taiwan said yesterday it would embark on a
\ntrade and investment drive into Southeast Asia as part of its \"Go
\nSouth\" campaign to boost ties with the region and bolster the
\ndomestic economy.<\/p>\n
Taiwanese economic minister P.K. Chang told Filipino and
\nTaiwanese businessmen in Manila that the drive targeted the
\nPhilippines in particular.<\/p>\n
\"This area (Southeast Asia) has become a main target for our
\nconcerted outward investment,\" he said.<\/p>\n
Taiwan had one of the highest foreign exchange reserves and
\nper capita incomes in the world, but faced stiff competition from
\nother industrialized countries, Chang said, adding Taiwan must
\nupgrade its economy to meet the challenge.<\/p>\n
This meant boosting relations with Southeast Asian nations,
\nwith which Taiwan shared cultural and geographical links, he
\nsaid.<\/p>\n
Chang said Taiwan, the Philippines' third biggest foreign
\ninvestor, wanted to be Manila's top foreign investor, overtaking
\nthe United States and Japan.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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