Taiwan invites Chinese business to invest

TAIPEI, Taiwan, April 14 (UPI) -- The Taiwanese government has issued a welcoming invitation to businesses from mainland China, granting them access to long-term investment opportunities.

"Taiwan will not only welcome visits of mainland Chinese tourists to Taiwan but also open up long-term investments by Chinese enterprises in Taiwan," Vice President-elect Vincent Siew said Sunday at the Boao Forum for Asia in Taipei, Taiwan.

Chen Deming, China's minister for commerce, responded quickly, urging Chinese businesses to participate, the China Economic News Service reported.

Siew's remarks included an invitation to Chinese businesses to take part in 12 "Love Taiwan" infrastructure initiatives.

The urban, rural and industrial renewal projects planned by the Taiwanese government are expected to cost $128 billion over the next eight years. The government expects to contribute $85 billion, the report said.