The Industrial Development Bureau (IDB) last week gave a green light to three Taiwanese companies’ applications to invest a total of NT$10 billion (US$344.2 million), which could create 14,000 job opportunities in Taiwan next year.
During an investment review meeting on Friday, the bureau approved applications submitted by forklift truck manufacturer Tailife Co Ltd (台勵福) and luggage maker Eminent Luggage Corp (萬國通路) to invest NT$3 billion with more than 500 jobs likely to be created.
The bureau did not name the third firm, but hinted the company would invest NT$50 billion and create more than 10,000 jobs.
According to people familiar with the matter, the third company the bureau was referring to is the Greater Kaohsiung-based chip packager Advanced Semiconductor Engineering Inc (ASE, 日月光半導體).
ASE is expected to invest more than NT$50 billion over the next three years to build a high-end packaging and testing plant in Greater Kaohsiung’s Nanzih District (楠梓), they said.
The news came after the bureau earlier this month approved investments by metal casing supplier Catcher Technology Co (可成) and handset lens maker Largan Precision Co (大立光) of up to NT$3 billion in new plants which are expected to create 3,800 job opportunities over the next three years.
“Since November of last year, more than 170 firms have sought consultations about returning from China to invest in Taiwan,” deputy director-general of the Department of Investment Services under the Ministry of Economic Affairs, Terry Lee (李聰貴), said by telephone.
Lee said the IDB has shortened assessment time to less than a week to help companies speed up investment plans.
To attract more Taiwanese companies into returning, the ministry has also promised to increase quotas for foreign workers and help firms borrow up to 80 percent of investment funds from banks for their projects, he said.
Total investment made by overseas Taiwanese businesses reached NT$51.8 billion in the first 11 months of the year, up 11 percent from NT$46.6 billion in the same period of last year and 3.6 percent higher than the ministry’s target of NT$50 billion.
Of the total amount, investments made by the manufacturing sector accounted for 62 percent in the first 11 months, followed by the energy and agriculture sector at 20 percent and 18 percent for the service sector, according to the bureau’s tallies.
The government implemented a policy to encourage Taiwanese companies with factories in China to bring jobs home in November of last year and set a goal of attracting NT$200 billion in investments in two years.