Some 10 foreign, Chinese and local enterprises will sign letters of intent for investment in Taiwan at a business summit in Taipei this month, in a bid to take advantage of the promising outlook under a cross-strait trade pact, the Ministry of Economic Affairs (MOEA) said Sunday. More than 500 representatives of domestic, Chinese and foreign businesses from around the world will take part in the investment summit that will be held Sept. 21, the MOEA said. Economics Minister Shih Yen-shiang, who will preside over the summit, will analyze for the participants the business opportunities that are expected to emerge from the economic cooperation framework agreement (ECFA) that Taiwan and China signed on June 29 and is scheduled to take effect later this month. The some 10 businesses that are expected to sign letters of intent will either set up R&D centers in Taiwan or invest in local enterprises, the officials said. Taiwan, with its geographic location as a transportation hub in the Asia-Pacific region and the ECFA in place, is poised to benefit from China's development as an engine of world economic growth, the officials said. This will prompt many foreign businesses to seek investment opportunities in Taiwan, the officials added. 