Mon, Oct 21, 2019 - Page 16 News List

Program adds two more SMEs

SMART SITE:Chung Tai Resource Technology Corp is to invest an estimated NT$900m, while Li I Shin Oil Co intends to invest more than NT$400m on warehousing

By Natasha Li  /  Staff reporter

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.

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