Taipei, July 21 (CNA) The value of approved foreign direct investment (FDI) in Taiwan in the first half of 2021 plunged almost 40 percent from a year earlier, according to the Investment Commission.

The commission said the decline reflected the COVID-19 pandemic, which has created economic uncertainty, and the relatively high base of comparison set in the first half of 2020.

Taiwan's government approved US$2.34 billion in FDI during the January-June period, down 39.09 percent year-on-year, commission data showed. The number of approved FDI plans also fell 22.22 percent to 1,313 in the six-month period.

Several major investment projects were approved in the first half of 2020 that made the base of comparison relatively high, the commission said.

They included the US$800 million investment pledged by Denmark's Orsted Wind Power TW Holding A/S in offshore wind development, US$400 million in new investment pledged by Diodes Taiwan S.A R.L from Luxembourg, and US$270 million in new investment in its subsidiary in Taiwan committed to by Japan's Kioxia Corp., the commission said.

In the six-month period, the commission said, approved investment from Southeast Asian, South Asian, and Oceanic countries totaled US$297 million, up 57.5 percent from a year earlier, with companies based in Thailand, Singapore and Australia the major investors.

Investment from China in the first half of the year fell 45.94 percent from a year earlier to US$26.79 million, also because of a relatively high baseline.

The first half of 2020 saw investment pledges of NT$224 million (US$8 million) by Swancor (HK) Investment Co. and NT$360 billion by Hong Kong's Jin Yao Development Co., the commission said.

According to the commission, it has approved US$2.44 billion in investment from China since Taiwan lifted a ban on Chinese investment on June 30, 2009.

Meanwhile, the value of Taiwan's approved foreign-bound investment fell 10.27 percent in the first half of 2021 from a year earlier to US$4.42 billion, the commission said.

But investment to Southeast Asian, South Asian, and Oceanic countries rose 58.87 percent from a year earlier to US$2.24 billion, with Singapore, Vietnam and India the most favored destinations, it said.

The value of approved investment in China by Taiwan-based companies fell 52.43 percent from a year earlier to US$1.58 billion, according to the commission.