The Ministry of Economic Affairs yesterday said that it has approved four more companies’ applications to join a three-year government program providing firms with assistance in the areas of taxation, financing, land, utilities and labor to encourage them to relocate back to Taiwan.
The four companies would invest more than NT$6.4 billion (US$203.1 million), creating an estimated 1,114 jobs, the ministry said.
Cheng Day Machinery Works Co (誠岱機械), a leading manufacturer of construction machinery and equipment, has decided to cancel its production expansion plans in China due to rising US tariffs on Chinese goods, the ministry said.
The company plans to invest NT$520 million to build two plants and smart production lines in Taichung’s Dajia District (大甲), which would create an estimated 49 jobs, it said.
An unnamed electronic components manufacturer is following one of its major clients back to Taiwan and plans to spend NT$3 billion upgrading its existing plant in the Southern Taiwan Science Park (南部科學園區), the ministry said.
The company aims to add seven copper clad laminate production lines and recruit up to 227 professionals, it said.
Another electronics firm, which the ministry also declined to identify, plans to expand production of its network communications products by building a new plant in the Hsinchu Science Park (新竹科學園區).
The company would set up advanced production lines and purchase automated equipment, the ministry said.
A battery-related manufacturer plans to set up operational headquarters in Taiwan and move some of its production lines home, the ministry said.
The company plans to spend more than NT$600 million to build a new plant in Tainan, which is expected to provide about 200 jobs, the ministry said.
The investment would support the development of Taiwan’s green industry as countries around the world look for alternative energy sources, it said.
Since the beginning of this year, 73 companies received approval to bring back more than NT$375 billion in combined investments, creating more than 34,100 jobs, the ministry said.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
Taiwan has enough crude oil reserves for more than 100 days and sufficient natural gas reserves for more than 11 days, both above the regulatory safety requirement, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday, adding that the government would prioritize domestic price stability as conflicts in the Middle East continue. Overall, energy supply for this month is secure, and the government is continuing efforts to ensure sufficient supply for next month, Kung told reporters after meeting with representatives from business groups at the ministry in Taipei. The ministry has been holding daily cross-ministry meetings at the Executive Yuan to ensure
RATIONING: The proposal would give the Trump administration ample leverage to negotiate investments in the US as it decides how many chips to give each country US officials are debating a new regulatory framework for exporting artificial intelligence (AI) chips and are considering requiring foreign nations to invest in US AI data centers or security guarantees as a condition for granting exports of 200,000 chips or more, according to a document seen by Reuters. The rules are not yet final and could change. They would be the first attempt to regulate the flow of AI chips to US allies and partners since US President Donald Trump’s administration said it rescinded its predecessor’s so-called AI diffusion rules. Those rules sought to keep a significant amount of AI
A new worry has been rippling across the stock market lately: Entire businesses, not just their employees, might be thrown out of work. While most economists say fears of an artificial intelligence (AI) job apocalypse are overblown, seismic shifts have happened in the past after big tech breakthroughs. The IT revolution of the 1990s led to a surge in productivity that sped up the US economy for several years. It also rendered companies or even industries largely redundant — from travel agents and stockbrokers to classified advertising and newspapers, or video rental stores. Economists expect AI would deliver higher productivity,
RSS