Mon, May 06, 2019 - Page 16 News List

Repatriation investments at NT$239.8bn: ministry

By Chen Cheng-hui  /  Staff reporter

The government’s three-year plan to help Taiwanese businesses move back and invest in the nation has attracted more than NT$239.8 billion (US$7.76 billion) in investment this year, the Ministry of Economic Affairs said on Friday.

The ministry hopes to achieve its goal of attracting NT$250 billion in total investments by this week at the earliest, with up to 40 firms awaiting approval, the ministry said.

Thus far, 47 companies with offshore operations have received the green light, creating more than 23,000 job opportunities, it said.

The ministry’s remarks came after it on Friday approved seven more applications with a combined investment of NT$34.1 billion and 2,200 job opportunities.

Optical module supplier Newmax Technology Co (新鉅科技) and lead frame maker Jih Lin Technology Co Ltd (界霖科技), as well as three producers of passive components, a firm specializing in plastic injection-molding and a developer of specialty chemicals were the latest seeking to diversify risk by moving investments back home in light of the US-China trade dispute and rising production costs in China, it said.

Newmax plans to invest NT$16.1 billion to build a headquarters and high-end camera lens manufacturing facilities at the Central Taiwan Science Park (中部科學園區), creating 1,450 jobs, the ministry said.

“Newmax’s investment is expected to bolster the local optoelectronics supply chain,” the ministry said in a statement on its Web site.

Jih Lin, whose lead frame products are key packaging materials for semiconductors, has production bases in Taiwan, China, Japan and Malaysia. The company mainly uses a stamping process to fabricate lead frames.

Due to high US tariffs on Chinese products, the company plans to invest NT$1.02 billion to construct new manufacturing facilities at the Nantze Export Processing Zone (楠梓加工出口區) in Kaohsiung, which is expected to create 105 jobs, the ministry said.

The three passive components makers, which the ministry did not identify by name, plan a combined investment of NT$10.6 billion and 270 new jobs, while the injection-molding and chemicals firms are to invest a combined NT$5.8 billion in central Taiwan, the ministry said.

Companies approved by the ministry are eligible for government assistance on taxation, financing, land, utilities and labor under the Welcome Taiwanese Companies Abroad to Invest in Taiwan Action Plan (歡迎台商回台投資行動方案).

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