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.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
FALLING BEHIND: Samsung shares have declined more than 20 percent this year, as the world’s largest chipmaker struggles in key markets and plays catch-up to rival SK Hynix Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce its global headcount by thousands of jobs, sources familiar with the situation said. The layoffs could affect about 10 percent of its workforces in those markets, although the numbers for each subsidiary might vary, said one of the sources, who asked not to be named because the matter is private. Job cuts are planned for other overseas subsidiaries and could reach 10 percent in certain markets, the source said. The South Korean company has about 147,000 in staff overseas, more than half
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
RSS