Fri, Oct 04, 2019 - Page 12 News List

Ministry gives four more firms green light to invest

By Kwan Shin-han  /  Staff reporter

The Ministry of Economic Affairs yesterday approved applications from another four Taiwanese companies to invest about NT$4 billion (US$128.77 million) in the nation, as their major clients have returned to Taiwan and they seek to avoid the uncertainty surrounding the US-China trade dispute.

The ministry said that it has given consumer electronics connector maker Aces Electronics Co Ltd (宏致電子) the green light to invest NT$2 billion to expand manufacturing capacity in Taoyuan, as the company expects domestic demand to increase and plans to develop new precision connectors.

Aces has gradually reduced production of connectors and wires at its plants in China, while increasing output in Taiwan, as major buyers such as Quanta Computer Inc (廣達電腦), Inventec Corp (英業達), Compal Electronics Inc (仁寶電腦), Asustek Computer Inc (華碩電腦) and Micro-Star International Co (微星科技) have sped up production in Taiwan, the ministry said.

The ministry said that it also gave machine tool and robot maker Toyo Automation Co Ltd (東佑達自動化) approval to invest NT$1 billion to build a new plant in Tainan’s Sin Ji Industrial Park (新吉工業區), where the company would add production lines for linear guideways and ball screws.

Toyo, whose customers are in the semiconductor, optoelectronics and electronics industries, expects the investment to help it develop new products and enhance product quality.

Singform Enterprise Co Ltd (新灃企業), a manufacturer of vehicle floor mats, gained approval to invest NT$700 million, while Powertip Technology Corp (久正光電), a producer of small and medium-sized displays, is to invest NT$200 million, the ministry said.

Singform plans to expand capacity at its plant in Chiayi County’s Ma Chou Hou Industrial Park (馬稠後產業園區) so that it can skirt US tariffs, while Powertip plans to establish new automated production lines to handle rising US demand for human-machine interface products, it said.

Since the beginning of this year, 146 companies have pledged to invest NT$615.2 billion in Taiwan by joining the government’s three-year action plan on domestic investment, which is to provide 53,146 job opportunities, the ministry said.

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