Sat, Mar 30, 2019 - Page 12 News List

MOEA approves NT$34bn of investment by six firms

By Chen Cheng-hui  /  Staff reporter

Six Taiwanese companies yesterday gained approval from the Ministry of Economic Affairs (MOEA) to invest a combined NT$34 billion (US$1.1 billion) in the nation under the government’s three-year action plan on domestic investment.

The new investments are expected to create about 1,500 jobs, the ministry said in a statement on its Web site.

Textile maker De Licacy Industrial Co Ltd (得力實業), automotive components maker Hota Industrial Manufacturing Co (和大工業), Victor Taichung Machinery Works Co (台中精機) and computer peripherals maker In Win Development Inc (迎廣科技), as well as a semiconductor company and a machine tool equipment maker, are the latest firms to return and invest in the nation with government assistance on taxation, financing, land, utilities and labor, the ministry said.

The ministry said that it has approved 24 applications to participate in the investment program over the past three months, while about 50 firms are considering applying.

Companies approved by the ministry have pledged a combined NT$91 billion in investments for the creation of more than 9,000 jobs, it said.

De Licacy, which specializes in manufacturing woven fabric products for global brands, has production bases in Tainan and Hangzhou, China. Due to high US tariffs on Chinese products, the 37-year-old company plans to invest NT$570 million to upgrade its manufacturing facilities in Tainan and move toward value-added, intelligent production.

Hota, which makes gears and shafts for vehicles, plans to build new plants at the Dapumei Precision Machinery Park (大埔美精密機械園區) in Chaiyi County, which would be equipped with automated systems and smart production lines.

The company’s NT$3.01 billion investment is expected to create 332 jobs, the ministry said.

Victor Taichung, which manufactures computer numerical control lathes and machining centers at its production bases in Taiwan and China, plans to construct a global operation headquarters and smart factories at the Taichung Precision Machinery Science and Technology Innovation Park (台中精密機械園區) amid a lingering US-China trade dispute.

The 65-year-old company’s NT$6.5 billion investment would add 120 new jobs, the ministry said.

In Win, which manufactures computer cases and switching power supplies, plans to expand capacity at plants in Taoyuan to meet future needs, while the unspecified semiconductor and machine tool equipment companies are to build new factories and adopt smart manufacturing in a bid to diversify risk, the ministry added.

This story has been viewed 1465 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top