Taipei, Oct. 9 (CNA) Singapore-based DBS Bank earlier this week raised its forecast for growth in Taiwan's gross domestic product (GDP) for 2021 to 5.5 percent, largely on the back of an increase in capital investment.
DBS Bank Ltd yesterday revised upward its GDP growth forecast for Taiwan to 5.5 percent this year, from the 5 percent it predicted in April, citing better-than-expected investments.
Imported capital goods advanced 63.5 percent in August, indicating that local manufacturers, especially those in the semiconductor industry, increased their investments, Singapore-based DBS economist Ma Tieying (馬鐵英) told a videoconference.
Data for last month had not been released, but the momentum in July and August should have remained intact last month, Ma said.
“With annual growth of 7.4 percent, Taiwan’s economy in the second quarter was brisker than expected,” she said.
“We also boosted our forecast
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Taiwan, Australia Seek Cooperation on Hydrogen
On July 29, the Australian Office in Taipei and Taiwan’s Ministry of Economic Affairs held the Australia-Taiwan Hydrogen Trade and Investment Dialogue to discuss opportunities for developing hydrogen energy and other emerging low-emissions technologies.
Those attending the virtual meeting included the Australian Minister of Trade Dan Tehan and Taiwan’s Minister of Economy Wang Mei-hua. Dr. Alan Finkel, Special Adviser to the Australian Government on Low Emission Technologies, delivered the keynote speech.
Australia and Taiwan are important trade partners in the areas of energy and natural resources. Australia is Taiwan’s largest energy supplier, while Taiwan is Australia’s fourth-largest energy and resource export market. The research, development, and construction of low-emissions technologies are critical to reducing carbon emissions and creating new economic opportunities. Bilateral trade and investm