The Ministry of Economic Affairs yesterday said it expects about NT$200 billion (US$6.56 billion) of the approved investments by Taiwanese companies moving production back to the nation to materialize by the end of this year.
The ministry’s statement followed its announcement on Thursday that it had approved two more investment applications: Shuz Tung Machinery Industrial Co’s (旭東機械) NT$900 million and more than NT$200 million from Sunder Biomedical Tech Co (善德生化科技), which plan to expand their capacities in Taiwan.
Including the two latest approvals, the ministry has given the green light to 151 companies’ applications to invest a total of NT$623.6 billion since the beginning of this year, which are expected to create 54,970 jobs, it said.
About a third of this sum should materialize by the end of the year, Ho Kun-sung (何坤松), chief operating officer and spokesman for the ministry’s InvesTaiwan Service Center, told the Taipei Times by telephone.
“We estimated that about NT$200 billion [should materialize] by this year from Taiwanese companies returning to invest in the nation, while another NT$200 billion should materialize by the end of next year,” he said.
The ministry considers new investments as having materialized if the company has bought new land and equipment or has started construction of new factories as stated in its application, center director Emile Chang (張銘斌) said.
“That [NT$200 billion] is a practical estimate, as many companies have proceeded,” Chang said.
Shuz Tung, a supplier of machinery equipment to companies such as bicycle makers Giant Manufacturing Co (巨大) and Merida Industry Co (美利達), on Thursday said it plans to set up a smart manufacturing facility near its headquarters at the Central Taiwan Science Park (中部科學園區), which would focus on providing equipment for thin-film transistor liquid crystal displays and related packaging.
The Taichung-based company said its decision was prompted by its customers’ relocation plans.
It would simultaneously expand its existing plant in Taichung, as it is expanding into the aerospace industry, the ministry said, adding that the company would offer 56 job opportunities.
Sunder Biomedical said it is relocating its China orders to Taiwan amid rising trade tensions between the US and China, adding that it would purchase smart machinery equipment for its facilities in Yunlin County and Taichung’s Cingshuei District (清水).
The plan is expected to provide about 25 job opportunities.
Separately, the ministry on Thursday approved applications by four small and medium-sized enterprises to invest nearly NT$1.3 billion.
Bicycle component manufacturer Glory Wheel Enterprise Co (金盛元興業) plans to invest NT$90 million to expand its plant in Taichung’s Daya District (大雅) to develop its electric bicycle business.
Re-Dai Precision Tools Co (銳泰精密工具) is to invest NT$200 million to install a smart production line at its plant in Chiayi, while cold forming auto parts manufacturer Extend Forming Industrial Co (英鈿工業) is to invest more than NT$800 million to add advanced processing equipment to its plant in Kaohsiung.
Yu Hong Steel Industrial Corp (昱鋐實業), which specializes in the manufacturing and design of steel equipment, plans to invest NT$100 million to automate its plant in Pingtung County.
STEADY: Prices are to rebound following inventory rebuilding demand, TrendForce said, with Samsung Electronics Co further trimming capacity as it slashes DDR4 lines The contract prices of DRAM chips are to rise by as much as 18 percent sequentially this quarter — the first price upticks in about eight quarters — driven mainly by inventory rebuilding demand for DRAM chips used in mobile devices and PCs, TrendForce Corp (集邦科技) projected yesterday. The price rebound is led by a quarterly increase of mobile DRAM chips, which are to climb between 13 percent and 18 percent quarter-on-quarter this quarter, which has not been seen since the fourth quarter of 2021, the Taipei-based market researcher predicted. Likewise, the price of mainstream PC DDR4 DRAM is expected to bounce
SOLID FOUNDATION: Given its decades of expertise in megatronics, manufacturing and robotics, Japan has the wherewithal to create its own AI, Jensen Huang said Nvidia Corp plans to help build an artificial intelligence (AI) tech-related ecosystem in Japan to meet demand in a country eager to gain an edge in this emerging technology. The US company will seek to partner with Japanese research organizations, companies and start-ups to build factories for AI, Nvidia CEO Jensen Huang (黃仁勳) said yesterday during opening remarks in a meeting with Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura. The company is to set up an AI research laboratory, and invest in local start-ups and educate the public on using AI, Huang said. Huang earlier this week met with Japanese Prime
A Hong Kong court postponed a court hearing on troubled Chinese property developer Evergrande Group’s (恆大集團) winding-up petition scheduled for yesterday until Jan. 29. Evergrande is trying to win support from its creditors for a plan to restructure more than US$300 billion in debt to stave off liquidation. The company’s lawyer told the court it was requesting an adjournment to “refine” its new debt restructuring plan. The Hong Kong High Court has postponed the hearing over Evergrande’s potential liquidation several times. Judge Linda Chan (陳靜芬) had said in October that yesterday’s hearing would be the last before a decision is handed down. Chan
Huawei Technologies Co (華為) is among a field of “very formidable” competitors to Nvidia Corp in the race to produce the best artificial intelligence (AI) chips, Nvidia chief executive officer Jensen Huang (黃仁勳) said yesterday. Huawei, Intel Corp and an expanding group of semiconductor start-ups pose a stiff challenge to Nvidia’s dominant position in the market for AI accelerators, Huang told reporters in Singapore. Shenzhen-based Huawei has grown into China’s chip tech champion and returned to the spotlight this year with an advanced made-in-China smartphone processor. “We have a lot of competitors, in China and outside China,” Huang said. “Most of our competitors
RSS