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Taiwan Aims for NT$150 Billion of Returning Investment in 2013

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Jan. 9 (Bloomberg) -- Taiwan said it will seek to lure NT$150 billion ($5.17 billion) in returning investment in 2013 from Taiwanese companies with overseas operations, as President Ma Ying-jeou strives to bolster economic growth.

The island will provide benefits such as lower tariffs on equipment imports and higher quotas for hiring foreign workers to achieve the goal, Duh Tyzz-Jiun, deputy minister at the Ministry of Economic Affairs, said in Taipei yesterday.

Ma’s government aims to spur an economy that the International Monetary Fund estimates expanded 1.3 percent last year, the weakest pace since the 2009 global recession. The president said two days ago that Taiwan will try to liberalize its business environment and deepen international trade links.

The island has so far approved eight applications for returning investment, including from Largan Precision Co. and Catcher Technology Co., worth a total of NT$110 billion over three years and adding 15,000 jobs, according to the ministry.

The government originally outlined objectives for attracting investment last year.

To contact the reporter on this story: Adela Lin in Taipei at alin95@bloomberg.net

To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net