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Rent subsidy offer for industrial land proves very popular

Industrial land sites are becoming increasingly popular, with greater numbers of overseas Taiwanese returning to invest in the country and with local enterprises expanding investment projects, a Ministry of Economic Affairs official said yesterday.

The official attributed the boom to a government policy that offers preferential rent in industrial areas to both local and overseas Taiwanese investors.

PREFERENTIAL TERMS

The official said the ministry launched the preferential land rent program in May 2005, allocating NT$60 billion (US$1.8 billion) in funds to subsidize rents in the first stage of the program.

Ministry statistics show that in the first stage of the program, 506 companies rented a total of 295.55 hectares, generating investment worth NT$203.9 billion and creating 35,000 jobs.

Given the favorable results of the first stage of the program, the ministry launched the second stage last year, increasing the original budget from NT$30 billion to NT$50 billion.

So far, 345 enterprises have rented 295.25 hectares in the second stage of the program, generating investments worth NT$152.01 billion and creating nearly 30,000 jobs.

EXTENSION POSSIBLE

In light of the favorable results -- and given that funding for the second stage will likely run out by the end of this month -- the ministry has not excluded the possibility of increasing the budget for the second stage or launching a third stage, the official said.

The official said Minister of Economic Affairs Steve Chen (陳瑞隆) has asked for a thorough evaluation of the program.
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