Surge in Taiwan's overseas investments
The Ministry of Economic Affairs' Investment Commission reports a dramatic increase of nearly 200% in Taiwan's investment to other countries from January to May this year, reaching a total sum of US$8.3 billion.
Key contributors include tech giant Taiwan Semiconductor Manufacturing Company and Yageo Corporation, making significant investments in the United States and France, respectively.
Despite a 7.2% dip in approved foreign investments to 206, the large cash injections from TSMC and Yageo have led to the overall surge. Specifically, TSMC boosted its investment in its Arizona factory by US$3.5 billion while Yageo purchased stakes in a French company for US$710 million.
On the other hand, approvals for investments from Mainland China into Taiwan saw a decline by nearly 48%. Meanwhile, outbound investments to New Southbound Policy countries, namely Singapore, Vietnam, and Malaysia, have been on the rise, increasing almost 100% from last year to US$1.9 billion dollars.
Despite the global economic uncertainty, it appears that Taiwan's tech industry remains bullish on international expansion.