TAIPEI (Taiwan News) — Taiwan’s inbound investment surged to NT$73.1 billion (US$2.25 billion) from January to March, the economics ministry said Wednesday.

According to a press release, for the first three months of the year, foreign investment cases fell by 7.44% to 473, but the value surged due to several high-profile projects. These include Google’s NT$7 billion investment and Amazon’s NT$2.59 billion injection into its Taiwan data center, per CNA.

Other major investments came from Luxembourg’s CI Fengmiao SCSP, Denmark’s Orsted, and South Korea’s MEMC, all supporting Taiwan’s renewable energy and semiconductor supply chains, per UDN. Notably, CI Fengmiao invested NT$22.08 billion into the Fengmiao Wind Farm project.

Since Taiwan opened to Chinese investment in 2009, 1,628 cases have been approved with a cumulative investment of NT$96.79 billion.

Regarding overall outbound investment, 186 cases were approved in Q1, up 3.91% from last year at NT$397.24 billion. TSMC’s NT$324.81 billion capital injection into an overseas subsidiary played a key role.

Investment in China saw a sharper decline, with only 46 cases approved — down 40.26% from last year. The figure fell to NT$11 billion, marking a steep 62.98% drop.