The Ministry of Economic Affairs approved NT$1.4 billion (US$45.74 million) in combined investments on Friday from two small and medium-sized enterprises (SMEs) in a government program aimed at encouraging investment in Taiwan.
Chung Tai Resource Technology Corp (中台資源科技) — a subsidiary of China Electric MFG Corp (中國電器) that specializes in the management of lighting waste and components containing mercury — is to invest an estimated NT$900 million in machinery equipment as the company looks to set up a research and development center at its headquarters in Taoyuan.
Chung Tai plans to recruit up to 100 local professionals, the ministry said.
Coal supplier Li I Shin Oil Co (利一欣油品) intends to invest more than NT$400 million to establish a smart warehouse. The investment could provide 18 job opportunities, the ministry said.
Since the July launch of the program, 38 firms have invested a total of NT$23.8 billion, ministry data showed.
On Friday, the Chung-Hua Institution for Economic Research (中華經濟研究院) said that investments from local companies, coupled with orders shifting from China to Taiwan and the return of Taiwanese businesses, would serve as the primary driving forces for Taiwan’s economy this year and next year.
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
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