Starting from Monday, local chip and panel makers will be able to submit plans on further investment in China to the Ministry of Economic Affairs (MOEA) for approval.
Guidelines on easing China-bound investments from Taiwanese companies were implemented yesterday and companies may apply through the ministry’s Investment Commission, commission director Chu Ping (朱萍) said.
“The assessment process would generally take more than one month,” she said by telephone.
The ministry said in a briefing on Feb. 10 that it was relaxing long-term restrictions on local companies’ China-bound investments, especially in the flat-panel and chipmaking sectors, with the expectation that these companies would invest more in Taiwan and retain advanced technologies at home.
Liquid-crystal-display panel makers, including AU Optronics Corp (友達光電), have said they already have proposals ready and would submit their plans to the investment commission as soon as the policy was official.
Panel makers intending to build advanced 7.5-generation factories in China will have to operate a more advanced plant of at least 8.5-generation at home, and must also propose new investments in Taiwan, the ministry said.
The proposals to invest in China will be assessed by a special ministry task force, with vice minister Hwang Jung-chiou (黃重球) at its helm.
In related news, the ministry will report to the legislature’s economic committee next month on Hong Kong-based China Strategic Holdings Ltd’s (中策集團) planned buyout of American International Group Inc’s Taiwanese insurance unit — Nan Shan Life Insurance Co (南山人壽).
Multiple government agencies are in the middle of reviewing the case and some have asked China Strategic for supporting documents for assessment, Chu said.
The controversial acquisition will have to clear the Financial Supervisory Commission, which regulates the financial and insurance sectors, the Mainland Affairs Council because of the possible involvement of Chinese capital, and the Council of Labor Affairs regarding employees’ rights.
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