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Taiwan Approves 183 Foreign Investment Projects Worth $1.12 Billion in May

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A total of 183 overseas Chinese and foreign investment projects were approved in Taiwan, with a total investment of $1.12 billion in May, according to data released by the Ministry of Economic Affairs on Monday.

In the period between January and May, 979 overseas Chinese and foreign investment projects were approved, with a total investment of $8.43 billion, an increase of 53.8% over the corresponding period a year ago.

The investments in the first five months of the year were driven by the $4.33 billion investment by Singapore-based Micron Semiconductor Asia into Micron Memory Taiwan through debt conversion. Investments by Microsoft and Danish offshore wind developer Orsted also helped to push up investments.

In May, 121 new companies were approved for investment by overseas Chinese and foreign investors, with a total investment amount of around $11.2 million, the data showed.

In the reported month, 64 outward investment projects were approved with a total investment of $1.53 billion. Also, in January to May, 271 outward investment projects were approved with a total investment of $35.6 billion, representing an increase of 133.9% compared to the same period last year.

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