Taiwan major investor<\/p>\n
TAIPEI (AFP): Taiwan's business people poured US$20.6 billion
\ninto overseas investments in 1986-92, making the island the
\nworld's 12th-largest investor, the Economic Daily News said
\nyesterday.<\/p>\n
Citing statistics compiled by the International Monetary Fund,
\nthe daily said that Taiwan has emerged as one of the world's
\nleading capital suppliers with outbound investment totaling $20.6
\nbillion in the seven-year period.<\/p>\n
The report added that Southeast Asian countries and China were
\nthe favorite destinations for Taiwanese investment because of
\ntheir cheaper labor and less-expensive raw materials.<\/p>\n
It said that overseas investment boomed followed the Taiwanese
\nauthorities' relaxation of controls over foreign exchange in
\n1987, and that since then the island's net capital outflow
\nexceeded $40 billion as of June 1994.<\/p>\n
The cash-rich island's foreign-exchange reserves posted an
\nall-time high of $92.28 billion at the end of October, the second
\nhighest after Japan.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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