Taiwan welcomes homebound investment totaling over US$500 million

2020/03/23

Government efforts to attract homebound investment are paying off as applications from four Taiwan businesses to invest a total of NT$15.3 billion (US$509.83 million) have been given the green light, according to information released March 19 by InvesTaiwan overseen by the Ministry of Economic Affairs.
 
 Topping the list with investment of around NT$10 billion is a local business specializing in wafer-level and thin-film optics based in northern Taiwan’s Hsinchu Science Park. The company, whose name was not released, is joined in pledging to increase domestic investment by New Taipei City-based Keding Enterprises, a leading manufacturer of Made in Taiwan-certified wood construction materials.
 
 Sunspring Metal Corporation, which turns out top-notch plumbing components, will ramp up its investment by nearly NT$3 billion to establish two factories in Taichung City’s Central Taiwan Science Park. The company repatriated from Guangdong province in China last year amid the U.S.-China trade war. Following suit in relocating operations back to Taiwan is leading golf equipment producer Fusheng Precision, headquartered in the northern city of Taoyuan.
 
 The successful applications are a result of three major programs launched by the government in July 2019 as a key part of efforts aimed at boosting businesses’ confidence in local investment. The programs include the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan, Action Plan for Accelerated Investment by Domestic Corporations and Action Plan for Accelerated Investment by SMEs.
 
 According to MOEA, 399 businesses have utilized the programs to invest a total of NT$918.7 billion in Taiwan to date. The applications of 74 more businesses are currently pending review.

Source: Taiwan Today (https://taiwantoday.tw/index.php)