Ministry of Finance Investment Convention Kicks Off – Offering Over NT$100 Billion Worth of Investment Opportunities
In an effort to stimulate the investment potential of public works in the country and quickly bring together the private sector to tap into the public works investment opportunities, the Ministry of Finance convened the “2019 Taiwan PPP Solicitation Convention” at the Taipei International Convention Center this afternoon (14th). In total 48 public works projects worth more than NT$100 billion were announced, including the promotion of private participation in infrastructure projects, land development (including the creation of superficies), government-led urban renewal and rental.
In 2018, thanks to proactive efforts of various agencies, 83 projects of private participation in public works were signed, reaching total private investment of NT$237.3 billion, making it the most prolific year over the last 8 years. Premier Tseng-chang Su presented the 2018 PPP Distinguished Awards to the Ministry of Transportation and Communications, Kaohsiung City Government, Taipei City Government, Hsinchu County Government, and Penghu County Government. The awards were accepted by the Minister of Transportation and Communications Chia-lung Lin, Deputy Mayor Tung-wei Hung, Deputy Secretary-General Chih-ming Chen, County Magistrate Wen-ke Yang, and Advisory Officer Chi-hsien Tsai on behalf of the respective authorities. This goes to demonstrate the resolve of the central government and local municipalities in working hand in hand to solicit investments.
The Ministry of Finance especially designed the lighting ceremony symbolizing a prosperous, brighter future and concerted efforts from the central and local governments in advancing public works. The lighting ceremony was activated together by distinguished guests, including Premier Su, Legislator I-fang Shih, Legislator Yong-chang Jiang, Minister Jain-rong Su, Minister Chia-lung Lin, County Magistrate Wen-ke Yang, and General Manager Hui-ting Wang of Gloria Manor (Gloria Manor Kenting), the recipient of the 16th Golden Thumb Awards for Private Participation in Infrastructure Projects.
During Premier Su’s speech, he commented that the Executive Yuan values private participation in infrastructures, therefore the central government has to fully support the local governments. For example, The Taipei Medical University Shuang-Ho Hospital BOT Project is a successful case of cooperation. Although some cases received criticism, we need to examine the underlying issues and make necessary improvements. The most important thing is that projects should be profitable for operators while providing convenient and efficient infrastructures and services for the people.
The Minister of Finance Jain-rong Su pointed out that public works not only have a direct influence on people's quality of life but is also the cornerstone on which economic growth is based. Governments worldwide are faced with the common problem of limited resources exacerbated by urgent public demand, where people expect the government to make constant improvements. Consequently, private resources are introduced to public works via the Public-Private-Partnership (PPP) approach, which is an international trend and a key administrative policy of Taiwan. Minister Su also mentioned successful investment solicitation examples in 2018 such as the Taoyuan City Biomass Energy Center BOT project and the Duty Free Shop ROT Project in Terminal 2 of Taoyuan International Airport. It is hoped that the proactive investment solicitation efforts of various government agencies will bring about better public service by inviting global investors to participate in Taiwan's public works.
The more prominent projects of this solicitation convention include“Project of the Superficies on Beitou-Shihlin Technology Park” (NTD 29 billion), “Kaohsiung Multi-Functional Economic and Trade Park Specific Trade Zone (III) Urban Renewal Project” (NTD 26.5 billion), “Commercial Land Development and Management Project of New High-Speed Rail Sections of the Taichung HSR Station Area” (NTD 14.7 billion), “The Land Development Project of WuRi WenXin BeiTun Line G9-1 and G9-2 Station of Taichung Rapid Transit Systems” (NTD 8.65 billion), “Kaohsiung City-owned Property Adjacent to Cianjhen District LRT C6 Station Development (by Creation of Superficies) Project” (NTD 3.6 billion), “Wastewater Reclamation and Reuse BTO Project of Taoyuan North Water Recycling Center” (NTD 3.4 billion), and “Taipei Beitou Audiovisual and Music Industrial Park BOT+ROT Project” (NTD 3.1 billion).
This year’s event saw an impressive turnout from over
130 enterprises, including renowned developers, construction firms and building
companies (Continental Engineering Corporation, Rich Development Inc., Pacific
Construction Co., Mitsui Fudosan Taiwan Co. (Taiwan), Kindom Construction Co.,
Cathay Real Estate, Dacin Construction Co., Ruentex Development Co., and Radium
Life Tech Co., etc.), insurance companies (Yuanta Life Insurance Co., BNP
Paribas Cardif TCB Life Insurance Co., Nan Shan Life Insurance Co., Cathay Life
Insurance Co., Fubon Life Insurance Co., and Shin Kong Life Insurance Co.,
etc.), accommodation and catering (Nan Ren Hu Entertainment Co., Silks Hotel
Group, LDC Hotels and Resorts group and Gloria Hotel Group, etc.), department
stores and retailers (Jing-Jan Retail Business Co.,
Breeze Group, Hsin Tung Yang Co., I-Mei Foods Co., the Eslite Co., The Far
Eastern Group, Taroko Mall Co., and President Chain Store Co., etc.), finance industry
(Mega Bank, Chang Hwa Bank, Land Bank, Bank Of Taiwan, etc.) and consulting
industry (CECI Engineering Consultants, Inc., KPMG, CBRE Limited, and Cushman
& Wakefield, etc.). In total, more than 300 people attended the convention.
Please feel free to browse investment convention-related information on the Ministry
of Finance's PPP website (https://ppp.mof.gov.tw/PPP.EngWeb/News).
Press release contact person: Chih-Wei Wang, Section Chief.
Telephone number: (886)2-2322-8214