Taiwan’s offshore wind power sector is one of the main reasons for the country’s 15-year high inbound investment of US$13.3 billion in 2022. (MOFA)
 

Approved inbound investment in Taiwan hit a 15-year high of US$13.3 billion for 2022, up 77.94 percent year on year, according to the Ministry of Economic Affairs Jan. 30.

The third-highest amount on record is the sum total of 2,566 proposals, including substantial investment plans by overseas green and offshore wind energy companies, the MOEA said.

The top five sources were Denmark, US$3.58 billion; the British Caribbean Territories, US$2.5 billion; Japan, US$1.7 billion; Australia, US$1.14 billion; and the Netherlands, US$0.9 billion, the ministry added.

In addition, the amount of inbound investment from New Southbound Policy target countries surged 107.23 percent to US$2.07 billion in 2022, the MOEA said, adding that the largest contributors were Australia, Singapore and Thailand.

For Taiwan’s outbound investment, excluding China, a total of 546 proposals worth US$9.96 billion were signed off by the MOEA’s Investment Commission last year, the ministry said, adding that this marked a 35.15 percent year-on-year increase in the number of projects but a 20.93 percent decline in value.

In terms of Taiwan’s bilateral investments with China, the value of China’s investment in Taiwan decreased by 66.73 percent to US$38.72 million in 2022, while Taiwan’s investment in China dropped 13.92 percent to US$5.04 billion.

A key plank in the government’s national development strategy, the NSP seeks to deepen Taiwan’s agricultural, business, cultural, education, tourism and trade ties with the 10 Association of Southeast Asian Nations member states, six South Asian countries, Australia and New Zealand. (YCH-E)