Taiwan attracted record foreign investment of $1.35...

Taiwan attracted record foreign investment of $1.35 billion in 1987. John Ni, director of the Industrial Development and Investment Center, told reporters that the foreign investment total would rise to $1.5 billion this year following Taiwan’s moves to further liberalize its domestic market and simplify investment procedures. “We expect a rush of foreign investors to Taiwan to pour more money into our country,” he said. He said investors from the United States, Japan, Hong Kong and Singapore were interested in setting up department stores and insurance and trading companies while businessmen from European countries planned to establish factories. Another official said Taiwan’s per-capita gross national product was expected to exceed $6,100 this year after rising to a record high of about $5,000 in 1987.