Taipei,Sept.19,2012(CENS)--At a time when China-Japan relationship has become tense,industrial cooperation between Taiwan and Japan is undergoing subtle change.During his visit to Japan last week,Yiin Chii-min,minister of the Council for Economic Planning and Development(CEPD),bridged the joint establishment by the national development fund and Japan's Daiwa Securities of a US$150 million biotech venture capital fund for promoting the cooperation between the two nations'biotech industries.Meanwhile,investments by Japanese firms in Taiwan are also picking up.
Three Japanese firms have collected application forms for investments in the projected Taiwan-Japan Park,with their investment scale reaching at least NT$2 billion.
Hitachi of Japan has informed the CEPD that it plans to organize a procurement conference for suppliers in Taiwan in December,when it will release 6.3 trillion worth of procurement opportunities,including raw materials,components and parts,and equipment.Yiin Chii-min hoped that in addition to procurement,Hitachi can cooperate with local firms in developing new products.
Yiin Chii-min visited Japan following his attendance of the annual meeting of APEC(Asia-Pacific Economic Cooperation)forum in Vladivostok.The major achievement of his trip is bridging the cooperation between the national development fund and Daiwa Securities.The national development fund will contribute 20-30%of the projected biotech fund,which will also solicit participation of Taiwanese and Japanese enterprises,for discovering rising stars of the Taiwanese and Japanese biotech industry.
The fund will assist Taiwanese firms in securing technological cooperation for the biotech industry with Japanese counterparts and help Japanese biotech firms invest in Taiwan.The national development fund will convene a screening committee to approve the cooperative project in the near future.
Yiin also brought back information on investments by other Japanese firms in Taiwan,including expanded investment by Rakuten in logistics,investment in mini dome stadium by Sony's affiliate,and the establishment of an R&D center by Digital Frontier,a computer graphics firm.
