Sat, Jul 20, 2019 - Page 12 News List

Ministry gives four more companies the green light to invest in Taiwan

By Natasha Li  /  Staff reporter

The Ministry of Economic Affairs yesterday approved another four Taiwanese companies’ applications to join a three-year government program aimed at boosting investment in the country.

Ninety-three applications have been approved since the program was launched in January, bringing with them investments totaling NT$452 billion (US$14.56 billion) and more than 42,100 job opportunities.

“I believe we can reach a goal of NT$500 billion in investments by the end of the year,” InvesTaiwan Service Center spokesman William Tang (湯偉民) told the Taipei Times by telephone, adding that a number of companies are still waiting for their applications to be reviewed.

Audio electronics maker Merry Electronics Co (美律), which produces 98 percent of its products in China and exports about 42 percent of them to the US, plans to invest NT$2.2 billion by setting up a research and development center at the Taichung Industrial Park (台中工業區) to avoid US tariffs, the ministry said on its Web site.

The company plans to offer 553 jobs, the ministry said.

The nation’s leading industrial papermaker Cheng Loong Corp (正隆紙業), which focuses on supplying shoe boxes for Nike Inc, as well as packaging material for Apple Inc, plans to relocate part of its production from China to Taiwan due to the ongoing US-China trade conflict and China’s ban on solid waste, the ministry said.

Cheng Loong plans to invest more than NT$2 billion by setting up a new plant in Kaohsiung’s Yanchao District (燕巢) and recruiting 35 people, it said.

The Kinpo Group’s (金仁寶集團) Acbel Polytech Inc (康舒科技), a power supply provider, plans to invest NT$2.5 billion by increasing the development and production of its high-end products at its headquarters in New Taipei City’s Tamsui District (淡水) and hiring 1,300 people, the ministry said.

An unnamed optical equipment manufacturer plans to invest NT$1 billion in central Taiwan by setting up a new plant and purchasing machinery, it said, adding that the company plans to offer a few hundred jobs.

In related news, the ministry yesterday approved an unnamed industrial bakery’s application to join a similar government program targeting small and medium-sized enterprises (SMEs).

The bakery is to invest NT$198 million by establishing a smart factory and automated production lines in Taichung’s Shengang District (神岡) and recruiting 47 professionals, the ministry said.

“Our current goal is to reach NT$25 billion in investments by the end of 2021, and create at least 2,000 local job opportunities,” Tang said, adding that more than 10 SMEs have shown an interest in the new program.

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