Taiwan's investment growth slows

Taiwan's investment growth slows

TAIPEI (Reuter): Despite Taiwan's "southbound policy" to promote trade in southeast Asia, the growth of its investment in several southeast Asian nations slowed and even showed negative growth in recent months.

Investment in Vietnam fell 0.21 percent to US$108 million, followed by Malaysia, which tumbled 33 percent to $67.3 million. Thailand fell 11 percent to $51.2 million, while Singapore plunged 69 percent to $31.6 million.

Taiwan increased its investment in the Philippines, with the value of its investments there soaring 272 percent to $35.7 million, followed by Indonesia with a 56 percent rise to $32.1 million.

Financial and insurance industries topped the list of Taiwan companies investing overseas, with a total of $528 million, followed by electronics and electrical appliance industries with $195 million and textiles with $118 million.

The commission said it approved 490 investment projects worth $1.092 billion in China in 1995, a 14 percent rise from 1994.