PABP annual output to hit US$600 million by 2017

2014-09-02

Pingtung Agricultural Biotechnology Park output is forecast to reach NT$18 billion (US$600 million) by 2017 on the back of a steady stream of investments in the southern Taiwan facility.

One of the nation’s eight designated Free Economic Pilot Zones, the park boasts 87 firms and expects this number to increase to 100 by year-end, generating NT$4.5 billion in production value.

PABP Director Huang Chin-cheng said that 16 new tenants moved into the facility this year, making over NT$1.55 billion investments in a diverse range of biotechnological ventures. These include aquaculture, food processing and horticulture.

“Among the latest batch of six investments approved in the third quarter, two are Japanese enterprises engaged in the development of specialized foods,” Huang said. “They will inject a combined NT$180 million to establish dedicated production facilities in the park.”

Four local firms involved in biological fertilizers, biotic materials, fruit export and ornamental fish will also invest a total of NT$220 million, he added.

Huang attributed the facility’s success in soliciting investments to the appeal of the FEPZs, which are promoting a more globalized and liberalized business environment in Taiwan through deregulation and structural innovation.

“We are at the vanguard of developing value-added agriculture in Taiwan, Huang said. “Under the FEPZ initiative, firms operating in the park can enjoy preferential tariff and tax treatment, as well as streamlined import restrictions on raw materials.”

PABP is reviewing a new batch of nine investment proposals at present, Huang said, adding that he expects these to be finalized early this month.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=221181&CtNode=413)