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Taiwan’s FDI Hits $79.5 Billion: Tsai Ing-wen Touts Robust Investment Environment

Taiwan
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At the “2023 Taiwan Global Investment Forum,” President Tsai Ing-wen revealed that since taking office, Taiwan has seen an impressive surge in foreign direct investment (FDI), reaching a cumulative total of $79.5 billion. Last year alone, FDI reached $13 billion, marking a 15-year high. Tsai Ing-wen emphasized that this surge is a testament to Taiwan’s reliability as a secure supply chain partner, attracting top global companies.

In her speech, Tsai Ing-wen acknowledged the challenges faced by Taiwan, including the pandemic, supply chain disruptions, global inflation, and the escalating climate change crisis. Despite these tests, top global companies continue to express confidence in Taiwan, reflecting the nation’s resilience and robust investment environment.

Tsai Ing-wen highlighted Taiwan’s economic achievements, with total export value reaching a record high of $479 billion last year. The domestic labor market remains stable, and the October 2022 unemployment rate is the lowest in 23 years. From 2016 to 2022, Taiwan’s average economic growth rate stood at 3.4%, surpassing the global average during the same period. Even during the pandemic (2020-2022), the average annual growth rate exceeded 4%.

The President attributed this success to increased enterprise confidence in Taiwan. The FDI amount from 2016 to October 2022 reached $79.5 billion, with last year’s $13 billion setting a 15-year record. The “Three Major Investment Plans for Taiwan” launched by the government since 2019 have attracted over $70 billion in investment from Taiwanese businessmen.

Tsai Ing-wen underscored Taiwan’s innovation prowess, with advancements in 5G, generative artificial intelligence, and high-performance computing. She emphasized Taiwan’s dominant position in the semiconductor industry, producing 90% of the world’s advanced chips. This has led to significant investments, with companies like ASML, Colin R&D, Merck Group, and Tege establishing new facilities in Taiwan.

The President highlighted the recent opening ceremony of Micron’s new factory in Taichung, stressing that global companies expanding investment plans in Taiwan validate the nation as a reliable and secure partner in the semiconductor supply chain.

Beyond infrastructure improvement, Tsai Ing-wen noted the government’s efforts to strengthen trade relations, signing agreements under the “Taiwan-US 21st Century Trade Initiative” and enhancing trade partnership with the UK. She emphasized Taiwan’s commitment to creating a stable and predictable investment environment, complying with international standards, and developing a sustainable economy.

Citing the Institute of Management in Lausanne’s world competitiveness evaluation, Taiwan ranked 6th overall, showcasing a five-year improvement streak. Taiwan leads in detailed evaluations of science and technology infrastructure, ranking first in the world for “R&D manpower per 1,000 people.” The President highlighted these achievements as the best in Taiwan’s history, affirming its dedication to fostering a conducive environment for long-term investment.

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