Tue, Oct 08, 2019 - Page 12 News List

Foreign firms pledge to invest NT$32bn

BUSINESS CONFERENCE:The investments by 13 foreign companies, ranging from IC chips to energy, would create about 1,345 jobs, the economics ministry said

By Natasha Li  /  Staff reporter

Vice President Chen Chien-jen, center left, Minister of Economic Affairs Shen Jong-chin, center right, and other officials and guests pose for pictures at the annual Taiwan Business Alliance Conference in Taipei yesterday.

Photo: Huang Pei-chun, Taipei Times

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.

“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.

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