The government is considering several measures to revitalize idle lands to help solve the problem of land shortages for manufacturing companies seeking to expand their operations, Vice Minister of Economic Affairs Shen Jong-chin (沈榮津) said yesterday.
Based on a survey released by the Ministry of Economic Affairs, a total of 6,960 manufacturers, or 90 percent of factory owners in the nation, said they were looking for land to build new plants.
The ministry is scouting vacant plots that have not been utilized for more than three years and plans to increase the cost of ownership by canceling a preferential land value tax, Shen said.
According to the Land Tax Act (土地稅法), land designated for industrial use enjoys a preferential land value tax of 1 percent, instead of 5.5 percent.
Shen said the plan is to start levying a land value tax of 5.5 percent for idle or vacant lots after the Lunar New Year holiday at the earliest.
“We think the measure will encourage land owners to lease or sell their plots instead of leaving them idle or waiting for their value to increase over time,” Shen said.
Industrial Development Bureau Director-General Wu Ming-ji (吳明機) said the ministry was also drafting a new article for the Statute for Industrial Innovation (產業創新條例) that would allow the government to expropriate vacant industrial land.
The bureau said that among the 6,960 manufacturers that were looking to expand, 1,350 — or 19.4 percent — were pharmaceutical and biochemical companies, suggesting that the nation’s biochemical industry was booming and needed space to expand its production capacity.
More than 1,000 chemical companies, 900 petrochemical firms and 900 electronics companies also said they have met their production capacity limits and need to build new factories to meet increasing demand, the bureau said.
Wu said that as it is quite difficult to find large plots of vacant land in northern Taiwan, the bureau is working with the Ministry of the Interior and local governments to draft measures that would ease regulations on calculating building height and floor area ratios.
“Easing these ratios will allow certain types of manufacturers that do not require heavy machinery to expand their plants by building more floors,” Wu said.
Shen said that for central and southern Taiwan, the ministry has requested state-run Taiwan Sugar Corp (Taisugar, 台糖) to release more of its idle land for leasing.
“Taisugar can also co-develop the land with local manufacturers if there are suitable projects,” Shen said.
From the customer’s perspective, car rental is a straightforward business. The only uncertainty is whether the hire company will charge you for the scratch they discover when you hand back the vehicle. Hertz Global Holdings Inc’s bankruptcy protection filing on Friday last week was a reminder that today even the simplest business models are underpinned by a lot more financial complexity than meets the eye. The proximate cause of Hertz’s demise was of course the sudden collapse in bookings caused by COVID-19 travel restrictions. The company’s monthly revenue last month fell 73 percent year-on-year, a shortfall that even the most resilient
Uber Technologies Inc, Lyft Inc and Airbnb Inc have slashed thousands of jobs. Salesforce.com Inc and Visa Inc are letting employees work remotely for months; Twitter Inc and Square Inc are allowing them to do so for good. For the companies’ hometown of San Francisco, the moves are early signs of a dire blow. In a city with a long history of booms, busts and natural calamities, the COVID-19 pandemic has suddenly upended nearly a decade of prosperity. While municipalities across the US are grappling with economic fallout from the virus, San Francisco stands to take a deeper hit given its high
BULK PURCHASE: The French chain and Hong Kong-based Dairy Farm International reached a deal covering 224 stores, which is expected to be finalized by year’s end Carrefour SA yesterday announced it would acquire Wellcome Taiwan Co (惠康百貨) for 97 million euros (US$108.33 million), and bring all the Wellcome supermarkets (頂好超市) and Jasons Market Place stores nationwide under its banner within 12 months of the deal closing. The France-based hypermarket chain reached an agreement with Hong Kong-based Dairy Farm International Holdings (牛奶國際控股), the pan-Asian retailer that launched Wellcome Taiwan in 1987. The transaction involves 199 Wellcome supermarkets, which have average sales areas of 420m2 and 25 high-end Jasons Market Place stores, which have an average sales area of 820m2, as well as a warehouse in Taoyuan, Carrefour Taiwan (家樂福)
‘ONE-STOP SHOP’: A Miaoli official said that the factory in the Jhunan section of the Hsinchu Science Park would create more than 1,000 jobs and boost prosperity A new high-end IC packaging and testing plant planned by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) in Miaoli County is expected to start operations in the middle of next year, Miaoli County Commissioner Hsu Yao-chang (徐耀昌) said. Hsu wrote on Facebook that TSMC, the world’s largest pure wafer foundry operator, would invest NT$303.2 billion (US$10.1 billion) to build the plant, the largest-ever single investment in Taiwan. However, TSMC declined to disclose the financial terms of the deal, while a company board meeting on May 12 approved a spending plan worth NT$168.2 billion as part of its investment plans. Construction of the