Fri, Aug 30, 2019 - Page 12 News List

Five more firms to invest NT$4.4bn, ministry says

By Natasha Li  /  Staff reporter

Another five companies are to join a three-year government program aimed at encouraging Taiwanese companies to invest back home, the Ministry of Economic Affairs said yesterday, after approving their applications to invest more than NT$4.4 billion (US$139.9 million) and create more than 600 job opportunities.

A total of 123 companies have joined the program since its launch in January, pledging to invest more than NT$568.2 billion and bringing 49,572 job opportunities, the ministry said.

The latest five are LED chipmaker Tyntek Corp (鼎元光電), LED lighting supplier Beautiful Light Technology Corp (麗光科技), hand tool set maker Machan International Co (明昌國際工業), cable producer Copartner Tech Corp (聯穎科技) and an unnamed cable manufacturer, the ministry said.

To avoid rising US tariffs on Chinese goods, Tyntek plans to reduce the production capacity at its plant in Wuhan, China, and instead invest about NT$800 million to add a smart production line for solar irradiation sensor components at its plant in the Hsinchu Science Park (新竹科學園區).

The company plans to recruit 60 local professionals in its relocation effort, the ministry said.

Beautiful Light, which has a plant in Dongguan, China, is to invest NT$700 million to set up a new plant in the Chiayi Machouhou Industrial Park (嘉義馬稠後產業園區), creating up to 450 jobs, the ministry said.

Machan International, which sells products through its own brands BOXO and Bailida, and supplies US-based W. W. Grainger Inc, plans to relocate its China production lines to Taiwan as the company makes more than half of its revenue from the US market.

The firm is to invest NT$1.7 billion by adding automated production lines at its plant in Taichung’s Dajia District (大甲) and provide about 100 job opportunities, the ministry said.

Copartner Tech, which manufactures electrical insulating/conducting materials, as well as electricity and data transmission cables, plans to set up a production plant in Taiwan to meet customer demand.

The New Taipei City-based firm would introduce advanced machinery and equipment to focus on the production of high frequency coaxial cables among others.

Meanwhile, an unnamed cable manufacturer, which supplies automobile and semiconductor companies, plans to invest NT$900 million by setting up two new plants in Tainan, which are to provide 46 job opportunities, the ministry said.

In related news, the ministry said it also approved seven companies in the energy, machinery, environment, medical equipment, circuit boards, Internet and cloud computing sectors to set up production plants in the export processing zone in Kaohsiung.

They plan to invest more than NT$500 million and create an estimated 300 job opportunities, the ministry said.

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