Sat, Aug 03, 2019 - Page 12 News List

Another four firms to invest in Taiwan: ministry

INVESTMENT PUSH:The Ministry of Economic Affairs also approved three small and medium-sized enterprises’ applications to invest a total of more than NT$1bn

By Natasha Li  /  Staff reporter

The Ministry of Economic Affairs yesterday said it has approved of NT$504.7 billion (US$16.09 billion) in investments as another four companies joined a government program aimed at boosting investment in the nation.

As a trade dispute between the US and China continues, the ministry has approved 102 companies returning to invest in the nation, providing up to 43,900 job opportunities, while another 50 companies are waiting in line.

TXC Corp (台灣晶技), the nation’s leading quartz crystal components maker, is to invest NT$2.5 billion to expand production of parts using 5G and microelectromechanical system technologies at the company’s plant in Taoyuan’s Pinzheng District (平鎮).

Jexsee Electronics Co Ltd, (全一電子), which specializes in the production of TVs, plans to relocate production from China and invest more than NT$1.5 billion by setting up a smart production plant in Taichung Industrial Park (台中工業區).

The company is to create an estimated 300 jobs.

Machinery parts manufacturer Feedback Tech Corp (翔名科技), which produces semiconductors, display panels and DRAM, is to invest NT$1.5 billion in a new plant in Hsinchu City’s Xiangshan District (香山) and recruit about 38 people.

The world’s second-largest manufacturer of hinges used in laptops, display panels and other electronic devices, Jarllytec Co Ltd (兆利科技), plans to invest NT$1.8 billion to set up a new plant in the New Taipei Industrial Park (新北產業園區) and create an estimated 70 job opportunities.

The ministry yesterday also approved three small and medium-sized enterprises’ applications to join a similar government program.

Atom Health Corp (亞拓醫療), Propower Fastener Corp (鉑川) and Pang Chan Metals Co Ltd (邦昌金屬) are to invest more than NT$1 billion to increase production in Taiwan and create about 130 jobs.

With US President Donald Trump on Thursday announcing another round of 10 percent tariffs on US$300 billion of Chinese goods, the Bureau of Foreign Trade warned of a bigger impact on Taiwan’s economy, which depends heavily on exports.

The potential tariffs include products such as smartphones, PCs and other communication devices, steel products and machinery equipment, as well as other consumer goods, the bureau said, adding that original equipment manufacturers would be directly affected, while machinery equipment makers would see a decrease in Chinese investment.

However, the textile industry would suffer less of an effect as a majority of companies have relocated production sites from China, the bureau said.

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