Eleven Taiwanese companies based overseas yesterday pledged to invest a total of NT$67.55 billion (US$2.28 billion) in the nation to help lift the economy.
Representatives from the 11 companies based in China, the US and South American countries signed letters of intent with Minister of Economic Affairs Chang Chia-juh (張家祝) at the 2013 Taiwan Business Alliance Conference in Taipei.
The proposed investment amount was 78.7 percent higher than the NT$37.8 billion the ministry secured from 20 companies last year.
Photo: CNA
E United Group (義聯集團), the biggest investor among the 11 companies, plans to pour in more than NT$60 billion in hotels, department stores, hospitals and other tourism-related businesses in Greater Kaohsiung, the ministry said.
Bicycle maker Giant Manufacturing Co (巨大機械) plans to invest NT$4 billion to establish a new product research and development center and manufacture bicycle components in the Central Taiwan Science Park in Greater Taichung, the ministry said.
Food producer Great Wall Enterprise Co Ltd (大成長城) will spend NT$900 million to establish two new poultry slaughterhouses, while cosmetics product packager Tair Jiuh Enterprise (台鉅企業) will invest NT$560 million to expand its assembly lines in Greater Tainan, the ministry said.
Other companies include salon chain Jourdeness International Co Ltd (佐登妮絲), bicycle component maker Joy Industrial Co Ltd (久裕興業), beauty product developer Thai Ho Group (太和生技), tea and coffee chain store La Kaffa International Co Ltd (六角國際), genetics test conductor Generics Development Corp (基因科技), cookware manufacturer Crown Fancy Corp (鼎王) and flight school Privilege Aero LLC.
In other news, Chang said that electricity rates would rise as planned next month by an average of 8.49 percent, rejecting a proposal by opposition lawmakers to postpone the price hike.
The rate hikes are set to hit heavy users, especially businesses, to help reduce losses that state-run Taiwan Power Co (Taipower, 台電) has incurred over the years.
Chang attributed the losses mainly to the sharp increase in fuel costs in recent years, but also acknowledged the need for improvement in the company’s management.
All taxpayers may have to bear the responsibility for making up the difference if Taipower’s operating costs cannot be covered by the new rates, Chang said.
The rate hikes next month will affect households using more than 500 kilowatt-hours of electricity each month and businesses using over 1,500kWh a month.
The government estimates that would leave 85.7 percent of households and 80.2 percent of small businesses unaffected.
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
‘SEISMIC SHIFT’: The researcher forecast there would be about 1.1 billion mobile shipments this year, down from 1.26 billion the prior year and erasing years of gains The global smartphone market is expected to contract 12.9 percent this year due to the unprecedented memorychip shortage, marking “a crisis like no other,” researcher International Data Corp (IDC) said. The new forecast, a dramatic revision down from earlier estimates, gives the latest accounting of the ongoing memory crunch that is affecting every corner of the electronics industry. The demand for advanced memory to power artificial intelligence (AI) tasks has drained global supply until well into next year and jeopardizes the business model of many smartphone makers. IDC forecast about 1.1 billion mobile shipments this year, down from 1.26 billion the prior
People stand in a Pokemon store in Tokyo on Thursday. One of the world highest-grossing franchises is celebrated its 30th anniversary yesterday.
Zimbabwe’s ban on raw lithium exports is forcing Chinese miners to rethink their strategy, speeding up plans to process the metal locally instead of shipping it to China’s vast rechargeable battery industry. The country is Africa’s largest lithium producer and has one of the world’s largest reserves, according to the US Geological Survey (USGS). Zimbabwe already banned the export of lithium ore in 2022 and last year announced it would halt exports of lithium concentrates from January next year. However, on Wednesday it imposed the ban with immediate effect, leaving unclear what the lithium mining sector would do in the
RSS