Newspaper article China Post

Formosa Plastics to Invest Less in Taiwan

Newspaper article China Post

Formosa Plastics to Invest Less in Taiwan

Article excerpt

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Formosa Plastics Group (FPG, [...]), while denying claims it would stop investing in Taiwan over its dissatisfaction with the Tsai Ing-wen administration, did admit on Friday that it planned to direct more of its resources to other markets.

The group issued the denial after Wealth Magazine chairman Hsieh Chin-ho ([...]) claimed on Thursday that "an important figure" in Formosa Plastics told him the group "will not invest a penny more in Taiwan," after it had "lost all hope in the current government."

Responding to Hsieh's remarks, Formosa Plastics said it planned to continue investment in Taiwan, but investment would drop from approximately 75 percent to less than 20 percent of the group's total expenditure.

Formosa Plastics said it had invested NT$110.4 billion between 2012 and 2014, of which investments in Taiwan accounted for NT$83. …

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