China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Taiwan looks to Carlyle in infrastructure boost
TAIPEI, May 23 (Reuters) - Private equity firm Carlyle Group [CYL.UL] hopes to collaborate with the new Taiwan government on a series of infrastructure and construction developments to boost the island's economy, the government said on Friday.
Carlyle's co-founder, David Rubenstein, said during talks with Taiwan's Vice President Vincent Siew on Thursday that his firm was interested in partnering with Taiwan on the projects, the presidential office said in a statement.
"One of Taiwan's key missions is to improve its economy, and the new government will maintain an open attitude to attract foreign investors. We also hope that more domestic funds which have flowed to China will return to the island," Siew said in the statement.
Local media said some of the projects could include a free trade port in Kaohsiung, air and sea shipping centre in Taichung, and better transportation infrastructure throughout the island.
Taiwan President Ma Ying-jeou, who took office last week, has said the government would invest T$4 trillion ($131.1 billion) in new developments.
Carlyle's move indicates growing foreign interest in Taiwan under the Ma administration, which has pledged to improve ties with China.
Washington-based Carlyle has acquired several Taiwan companies, including Ta Chong Bank (2847.TW). Carlyle has also invested in companies such as rental car firm Hertz Corp (HTZ.N), fast food chain Dunkin' Donuts and chip company Freescale Semiconductor. (US$1=T$30.5) (Reporting by Sheena Lee; editing by Anne Marie Roantree)
