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Overseas Taiwanese firms invest home

The Ministry of Economic Affairs (MOEA) said it had received 133 investment applications, totaling NT$12.4 billion (US$404.5 million), from Taiwanese businesses based overseas between September 2006 and last month.

"The Labor Contract Law [勞動合同法] and the Unified Taxation System [兩稅合一制], both of which changed China's investment environment this year, have prompted China-based Taiwanese businesses to return," Berton Chiu (邱柏青), director-general of the ministry's department of investment services, said by telephone yesterday.

A total of 132.5 hectares of land at the Lize Industrial Park (利澤工業區) have been sold since the inauguration of the Hsuehshan Tunnel (雪山隧道). In addition, more than 60 firms have been approved to move into Lize Industrial Park within the next two years, with solar power businesses investing as much as NT$60 billion.

The opening of the Hsuehshan Tunnel, which has shortenened travel time between Taipei City and Ilan County from two hours to 40 minutes, has helped boost the popularity of the Lize Industrial Park.

The ministry said many China-based Taiwanese businesses have returned to invest in the service industry in light of the nation's aging population and emphasis on leisure.

A foreign-based Taiwanese firm has bought land in central and southern Taiwan, and invested in medical care centers that can accommodate more than 200 beds.
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