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MOEA signs intent letters with 15 firms

Minister of Economic Affairs Yiin Chii-ming (尹啟銘) yesterday signed letters of intent with 15 foreign companies in Taipei, a move that signified these companies’ intention to expand their operations or to establish a presence here in Taiwan.

Among these 15 companies, 10 of them will expand or increase investments, including 3M Taiwan Ltd, Alibaba.com Ltd, Bayer Taiwan, Corning Display Technologies Taiwan Co, Kingston Technology Co, Qualcomm MEMS Technologies Inc, Scandinavian Health Ltd (SHL), Siemens Limited Taiwan, STEGIA Co and Hurco Manufacturing Ltd, Taiwan.

Five companies will make initial investments, including Audi Taiwan Co, Matla Solar Energy (Pty) Ltd, MoSys Inc, Telamon Corp and VoiceBox, while six companies will set up R&D centers, including 3M, Bayer, Corning, Matla, Siemens and STEGIA.

The total amount of future investment from these 15 companies is estimated to be between US$150 billion and US$200 billion, Yiin said.

“[Enhancing] Taiwanese economic capabilities by accelerating the new policy of deregulations in 25 areas will no doubt increase investor confidence, and help serve the investment and trade interests for both parties’ concerns,” said Tim Bielfeldt, member of the executive committee and head of BU TPU, Bayer Material Science AG.
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