Foodpanda secures approval to invest more in Taiwan
01/30/2021 09:17 PM
CNA file photo
Taipei, Jan. 30 (CNA) German-based food delivery service provider Foodpanda GmbH has secured approval to invest more in Taiwan to expand its business, according to Taiwan s Investment Commission.
The commission said it gave the company the green light on Thursday to raise its investment in subsidiary Foodpanda Taiwan Co. by injecting NT$5 billion (US$175 million) into the unit.
Meanwhile, Foodpanda also obtained approval to remit an additional 18 million euros (US$20.88 million) into Taiwan to boost its working capital in the market, the commission said.
The commission said Foodpanda s new investment demonstrates the rising importance of the food delivery market in Taiwan.