Vice president invites overseas Taiwanese to invest at home

Taiwan welcomes overseas compatriots to invest in their homeland, Vice President Vincent Siew said yesterday, noting that the country has become a hot spot for foreign investment in the wake of the economic cooperation framework agreement (ECFA) signed with China in June.
“Many foreign countries have expressed a high level of interests in investing in Taiwan as the trade pact signed with China on June 29 has raised Taiwan’s economic status,” Siew said while attending a meeting with representatives of the Federation of Overseas Chinese Associations in Taipei.

The U.S.-based Business Environment Risk Intelligence (BERI) rated Taiwan the fourth lowest-risk country for investment in its business environment risk report released in August 2010, Siew said.

In addition to the ECFA, Taiwan’s reduced tax rates and its global investment task force formed by the Executive Yuan in August have encouraged foreign investors to put their money here, according to the BERI.

Overseas Taiwanese will be able to help increase Taiwan’s international visibility by bridging communications between the government and world business partners, with their language capabilities and rich interpersonal connections, Siew said.

The ECFA reduces or eliminates tariffs on exports between Taiwan China and opens each side’s market wider to the other’s investors. It was also widely seen as one of the most important agreements signed between the two former rivals, and an indication of reduced tensions and improved relations between the two sides.