The Ministry of Economic Affairs yesterday inked letters of intent (LOI) with 13 foreign companies that pledged to invest more than NT$32 billion (US$1.04 billion) in Taiwan over the next three years.
The letters were signed at the annual Taiwan Business Alliance Conference in Taipei and the investments are expected to create about 1,345 jobs, the ministry said.
As the trade conflict between the US and China escalates, more foreign companies are turning to Taiwan, which has strong and stable partnerships between companies and suppliers while fostering a growing talent pool, Minister of Economic Affairs Shen Jong-chin (沈榮津) said at a press conference.
Photo: Huang Pei-chun, Taipei Times
“We also have a comprehensive ICT [information and communications technology] industry as well as a robust semiconductor industry,” Shen said, citing as an example UK-based Dialog Semiconductor PLC, which plans to invest NT$3 billion to expand its research and development center in Taiwan.
Dutch semiconductor equipment maker ASML Holding NV is to set up an extreme ultraviolet lithography development center in the nation, while its German peer, SUSS MicroTec SE, plans to establish a coater and developer machine assembly plant, the ministry said.
Air Liquide Far Eastern Ltd (亞東工業氣體), a joint venture between France’s Air Liquide SA and Taiwan’s Far Eastern Group (遠東集團), plans to invest about NT$3 billion and provide 120 local job opportunities, as it seeks to integrate environmentally friendly procedures in its plant at the Changhua Coastal Industrial Park (彰濱工業區), the ministry said.
“Foreign companies are also investing in Taiwan’s energy sector, as the nation is in the process of energy transformation, which would bring many business opportunities,” Shen said.
Thailand-based Mitr Phol Group, the biggest sugar and bio-energy producer in Asia, which has set up Formosa Sun Energy Corp (厚聚能源) in partnership with TSEC Corp (元晶太陽能), plans to increase its investments in solar farms across the nation, the ministry said.
Japan’s Sojitz Corp plans to invest in ground-mounted solar energy plants in Taiwan by next year, while JERA Co Inc proposes to invest an estimated NT$10 billion in the nation’s offshore wind farms, solar farms and liquefied natural gas businesses, offering more than 100 job opportunities, the ministry said.
Foreign investments in Taiwan amounted to US$7.88 billion in the first nine months of the year, Shen said, citing figures compiled by the Investment Commission.
The ministry has set a target of attracting US$11.4 billion in foreign investments by the end of the year, he added.
The theme of the Taiwan Business Alliance Conference this year is “Secure and Trustworthy,” with a focus on business opportunities related to 5G technology, the Internet of Things, artificial intelligence, big data, electric vehicles and autonomous driving, the ministry said.
This story has been updated since it was first published to correct the name of TSEC Corp.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
END TO SPECULATION: The hotel’s management contract has been extended, despite reports that it wanted to end its alliance with Hyatt Hotels over a deal with Riant Capital Singapore-based Hong Leong Hotel Development Ltd (豐隆大飯店股份) yesterday said it has extended a management contract to ensure the continued presence of the Grand Hyatt brand in Taipei, ending rumors that the two sides were parting ways. “We are pleased Hyatt is able to come to terms on the extension of the management contract of Grand Hyatt Taipei,” said Kwek Leng Beng (郭令明), executive chairman of City Developments Ltd (城市發展) and Millennium & Copthorne Hotels Ltd (千禧國敦酒店). Hong Leong Hotel Development is a subsidiary of Millennium, and both fall under the Hong Leong Group (豐隆集團). The Grand Hyatt Taipei (台北君悅大飯店), owned and built by
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion