Taiwan still prohibits China Mobile equity investment in FET
The Taiwan government currently still prohibits China-based companies to invest in the island's telecom carriers, and will not approve China Mobile's plan to acquire a 12% stake in Far EasTone Telecommunications (FET), according to Taiwan's vice economic minister, Hwang Jung-chiou.
Hwang made the remarks after having a lunch meeting with China Mobile chairman Wang Jianzhou on August 27 during which Wang took the occasion to discuss his company's acquisition project.
Taiwan's government just eased its policy to allow China-based companies to make investments in some sectors in June 2009 and the government may review the policy one year later to see if there is room for further liberalization, Hwang stated.
The amount of foreign direct investment (FDI) in Taiwan totaled US$3 billion in the first seven months of this year, lagging the US$6.7 billion received by South Korea, noted Hwang, adding that Taiwan will not immediately ease its rules to accommodate more China investments in order to boost the FDI figures.
source
Hwang made the remarks after having a lunch meeting with China Mobile chairman Wang Jianzhou on August 27 during which Wang took the occasion to discuss his company's acquisition project.
Taiwan's government just eased its policy to allow China-based companies to make investments in some sectors in June 2009 and the government may review the policy one year later to see if there is room for further liberalization, Hwang stated.
The amount of foreign direct investment (FDI) in Taiwan totaled US$3 billion in the first seven months of this year, lagging the US$6.7 billion received by South Korea, noted Hwang, adding that Taiwan will not immediately ease its rules to accommodate more China investments in order to boost the FDI figures.
source
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