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Taiwan's value-added petrochemical output grows in 2012
08
Apr '13
Production of high value-added items in Taiwan’s petrochemical industry grew by 15.4 percent year-on-year in 2012, according to the Council for Economic Planning and Development (CEPD) statistics.
 
The rate is higher than 14.4 percent year-on-year production growth achieved in 2011, but lower than 16.6 percent y-o-y growth tapped during 2010 and 17.7 percent y-o-y in 2009, Taipei Times reported.
 
The rate is derived by comparing the industry’s output of high value-added goods to its overall production.
 
In spite of several problems faced by the local producers, including problems in acquiring technological know-how and competition from India, Thailand and Singapore, CEPD forecasts that rising investments would help the Taiwanese value-added petrochemical sector to achieve a 16 percent rise in production this year.
 
Last week, CEPD said that in line with last year’s investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic petrochemical industry.
 
Of the total sum, NT$ 15 billion would be invested in high-value petrochemical sector this year, around 13 percent more than NT$ 13.3 billion invested last year, it added. 
 
Increasing investment in production of high value-added items would help Taiwanese firms to better withstand the competition extended by low value-added items from China and the Middle East, given that low value-added goods are more exposed to the risk of changing business cycles, the Council said.
 
Meanwhile, in a bid to help producers of high value-added petrochemical items in the country to excel in the value chain, Taiwan’s Ministry of Economic Affairs (MOEA) has constituted a separate office that works in association with research institutions.
 

Fibre2fashion News Desk - India

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