The government is planning to reduce the rent for more than 9,000 local businesses by 20 percent, which would save them NT$660 million (21.94 million) in expenses, the Ministry of Economic Affairs’ State-owned Enterprise Commission said yesterday.
The commission yesterday proposed the rent reductions for companies leasing land from state-owned enterprises, including Taiwan Sugar Corp (台糖), Taiwan Power Co (Taipower, 台電), CPC Corp, Taiwan (CPC, 台灣中油) and Taiwan Water Corp (台水), until the end of the year to help businesses weather the storm sparked by the COVID-19 pandemic.
Companies could simultaneously apply to delay rental payment until the end of the year, it added.
They would be allowed to pay the interest-free deferred rent over a maximum period of three years, the commission said.
Taiwan Sugar, one of the nation’s largest landowners, is expected to shoulder most of the costs.
Earlier this week, Taisugar chairman Chen Chao-yih (陳昭義) told a meeting of the legislature’s Economics Committee that the company was expecting a NT$54 million decline in rental income this year.
The commission said the new rent reduction plan aims to help the service sector, as the government already has another plan for manufacturing companies leasing land from state-run enterprises.
The latter, announced a week ago, would see a similar 20 percent cut in rent for companies that operate manufacturing plants in the nation’s industrial parks and export processing zones.
Along with a 50 percent reduction in maintenance fees for public infrastructure, the plan also offers the possibility of extending payment periods for the treatment of industrial wastewater.
Separately, the ministry has approved applications from seven small and medium-sized enterprises for a government program aimed at boosting investments in Taiwan through various incentives.
The companies specializing in various fields, including metal components, machinery equipment, biomass treatment and sensor modules, are: Tai Li Enterprise Co (太利企業), IC Star Group (松讚實業), Jing Cheng Industrial Co (璟程小泉精機), Lu Yang Technology Co (如陽科技), Aplus Molds & Plastics Co (成綸企業), Taiwan Jhonsin Co (台灣眾鑫企業) and Jorjin Technologies Inc (佐臻公司).
They are to invest a combined NT$2.3 billion.
The program, which was launched in July last year amid an escalating trade dispute between the US and China, runs alongside two other programs seeking to increase local investments.
The three programs have to date attracted about NT$969.8 billion in investments from 454 companies.
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