Three government incentive programs launched early last year to attract investments from Taiwanese businesses have accrued NT$1.072 trillion (US$36.32 billion) in investment pledges from 595 companies, the Ministry of Economic Affairs said on Friday.
The programs, which provide participating companies with assistance for financing, taxation, land, utilities and labor, are estimated to create 89,153 jobs, the ministry said in a statement.
Another 58 companies are waiting for approval to invest in the nation, the ministry said.
Taiwan’s GDP last quarter contracted 0.73 percent year-on-year, the first decline since the first quarter of 2016, the Directorate-General of Budget, Accounting and Statistics (DGBAS) reported on July 31.
The contraction was relatively moderate compared with other economies, thanks to the nation’s success in containing the COVID-19 pandemic, the competitiveness of the local tech sector and continued investment in the private and public sectors, the DGBAS said.
The DGBAS is due to update its projections on Friday.
InvesTaiwan Service Center last week approved eight companies to participate in the programs to invest a combined NT$4.1 billion, the ministry said.
SGM Stone Co Ltd (翔聯企業) is to invest NT$200 million to expand its manufacturing capacity and install smart production lines at its plant in Taoyuan’s Yangmei District (楊梅), to meet rising demand for curtain walls in local manufacturing and real-estate sectors, the ministry said.
The demand for new factories and offices due to the large-scale return of Taiwanese businesspeople and the need to replace or renovate dangerous and aging buildings have driven growth in the civil engineering industry and created the biggest market boom for curtain walls in 30 years, the ministry said.
Lung Shing Refrigerating Works Co Ltd (隆興冷凍), Lu Fa Plastics Corp (陸發塑膠), Kuanda Polylon Co Ltd (廣大保利龍), Sheng Lun Co Ltd (昇輪股份), Chen You Technology Co Ltd (宸宥科技), CompTake Technology Inc (亞毅精密) and Dakim Environmental Protection Enterprise Co Ltd (達清環保) are to invest NT$3.9 billion, InvesTaiwan Service Center said.
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