Taiwan’s Investment Commission approved a 15-year-high US$13.3 billion in foreign direct investment (FDI) in 2022, according to figures released Monday.
In a statement, the commission, part of the Ministry of Economic Affairs, said the value of FDI projects approved in 2022 was the third-highest on record.
The commission attributed the 77.94 percent year-over-year increase to substantial investments by overseas green and offshore wind energy companies.
The commission said it approved 2,566 FDI projects from January to December last year, representing a 5.35 percent year-over-year decline.
Outbound investment
In terms of outbound investment by Taiwanese individuals and businesses in countries excluding China, the commission said it signed off on 546 proposals worth US$9.96 billion last year.
According to the commission, this marked a 35.15 percent year-over-year increase in the number of projects but a 20.93 percent decline in value.
Among the major outbound investments in 2022 were US$2.12 billion spent by Taiwan Semiconductor Manufacturing Co. to establish a subsidiary, the Japan Advanced Semiconductor Manufacturing, Inc., and a US$1 billion capital injection by MediaTek Inc. in MediaTek Investment Singapore Pte. Ltd.
The commission said it approved 481 projects worth US$2.07 billion from investors in the 18 countries targeted by Taiwan’s New Southbound Policy, representing a 9.07 percent decline in the number of projects but a 107.23 percent increase in value compared with 2021.
Regarding outbound Taiwanese investment in New Southbound Policy countries, the commission approved 169 cases worth US$5.27 billion in 2022.
This represented a 39.76 percent year-over-year increase in the number of projects but a 9.55 percent decrease in total value, the commission said.
By country, the biggest investors from the New Southbound Policy nations were Australia, Singapore and Thailand, according to the commission.
China-related investment
In terms of Chinese investments in Taiwan, the number of projects approved by the commission, 46, dropped by 6.12 percent compared with 2021.
However, the value of Chinese investment decreased by 66.73 percent to reach US$38.72 million, according to the commission.
As for Taiwanese investment in China, the commission said it approved 372 applications totaling US$5.04 billion in value in 2022.
This represented a 13.92 percent year-over-year decline in value and a 12.06 percent decrease in the number of projects compared with 2021, according to the commission.
The commission said it had given the green light to 1,556 projects totaling US$2.56 billion in value since Taiwan was opened to Chinese investment in 2009.
Source: Focus Taiwan News Channel