The Kaohsiung Export Processing Zone (高雄加工出口區), the first of its kind to be established in the world, yesterday began renovations to expand its work space.
Funded by a NT$2.4 billion (US$80.13 million) budget, the Ministry of Economic Affairs is revamping up to 4.17 hectares of the export processing zone (EPZ) by adding two new plants and one office building.
The renovated EPZ would offer an additional 80,000m2 of work space and is scheduled to be completed by August next year, the ministry said.
Photo courtesy of the Ministry of Economic Affairs via CNA
The new plants would be for rent only to maximize their utility, Export Processing Zone Administration Director-General Huang Wen-guu (黃文谷) said in a statement, pointing to the long-standing challenge that companies face in procuring land.
The ministry yesterday inked memorandums of understanding on investment and relocation to the EPZ with Radiant Optoelectronics Co (瑞儀光電), Kaohsiung Opto-Electronics Inc (高雄晶傑達), JET Optoelectronics Co (凱銳光電) and Loami Biotech Co (樂米生技).
New investments from the four companies are expected to create NT$11.8 billion in combined production value and 3,000 job opportunities, the ministry said.
The EPZ would seek to attract more IC and LCD related industries to boost its competitiveness, Huang said.
Minister of Economic Affairs Shen Jong-chin (沈榮津) said that the government is in talks with multinational companies such as Amazon.com Inc and Google to drive up investment in Taiwan.
Amid US-China trade tensions, establishing a high-tech research center, green energy research center, a high-end production hub and an advanced semiconductor processing technology center would be crucial to Taiwan’s industrial and economic development over the next 20 to 30 years, Shen said.
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