Twenty-two Taiwanese companies based overseas plan to invest NT$168.4 billion (US$5.67 billion) in Taiwan over an unspecified period as part of efforts to relocate some business to the nation, a government official said yesterday.
The announcement came after the government received investment applications from the firms.
The investment could create 23,268 jobs, Industrial Development Bureau (IDB) Director-General Shen Jong-chin (沈榮津) told reporters following a Cabinet policy meeting yesterday.
Of the firms, 13 are based in China and nine in the US, Europe and Southeast Asia, Shen said.
The companies have presented plans to manufacture machinery, metal products, yachts, vehicles and related components, electronics, digital content, opto-electric devices, optical devices, rubber and fabric products, and luggage, Shen said.
The government has put in place measures to encourage Taiwanese investors to relocate funds, including a speedy review of applications, assistance in securing loans, and help with land acquisition and labor issues, such as higher foreign-labor quotas.
Applicants must have their own brand and access to the global market, must occupy a key position in the international supply chain, manufacture high value-added products or plan to establish research and development centers, and be headquartered in Taiwan.
The government forecast that the plan would attract NT$200 billion in investment, creating NT$303.7 billion in production value and 82,000 jobs from December last year to the end of next year.