The Ministry of Economic Affairs (MOEA) on Friday said it had approved applications by another two China-based Taiwanese companies to invest NT$21.6 billion (US$737.13 million) in Taiwan, which could lead to the creation of 1,500 jobs.
The ministry said in a statement that the Industrial Development Bureau (IDB) had approved applications submitted by home appliance manufacturer New Widetech Industries Co Ltd (威技電器) and another firm that the ministry declined to name.
IDB Director-General Lien Ching-chang (連錦漳) said the bureau had approved the two companies’ applications because they both have been investing in overseas markets for more than two years and met the ministry’s criteria as they produce high value-added products and represent crucial component manufacturers in global supply chains.
During a telephone interview with the Taipei Times, Lien said that New Widetech planned to invest NT$1 billion in building new plants in Greater Tainan which would produce compressors and motors.
Lien said that another company planned to invest about NT$20 billion, but stopped short of identifying the company, citing a request from the firm to protect its interests.
The ministry did not specify which industry the company is involved in, or where it specifically plans to invest.
Encouraged by government investment incentives, 16 China-based Taiwanese businesses have received investment approval from the bureau since last month, totalling NT$150 billion of investment, which could lead to the creation of 21,000 jobs, Lien said.
Companies that have gained the bureau’s approval so far include metal casing supplier Catcher Technology Co (可成) and handset lens maker Largan Precision Co (大立光).