Another 13 companies are to join the government’s three incentive programs aimed at encouraging Taiwanese companies to invest at home, the Ministry of Economic Affairs said last week, after approving their applications to invest more than NT$11.6 billion (US$393.14 million).
Since their launch in January last year, 650 companies have joined the programs, pledging to invest about NT$1.109 trillion and creating 92,859 job opportunities, while another 52 companies are waiting for approval, the ministry said.
The latest investments are led by China Petrochemical Development Corp’s (CPDC, 中國石油化學) NT$3.8 billion project in Miaoli County and server chassis manufacturer Chenbro Micom Co’s (勤誠興業) NT$2.2 billion project in Chaiyi County.
To meet market demand with more product lineups and offer total solutions to clients, CPDC plans to establish a smart factory in Miaoli County’s Toufen Township (頭份), the ministry said.
The company plans to set up six production lines in phases, build automation systems and reduce greenhouse gas emissions in the production of products that are used in aeronautical materials, bicycle frames, golf clubs, Tritan copolyesters, optical lenses and some key coating materials, the ministry said, adding that CPDC plans to recruit 147 local professionals for its project.
Chenbro Micom, which has manufacturing bases in the Chinese cities of Dongguan and Kunshan, plans to open a new plant in Chiayi Machouhou Industrial Park (嘉義馬稠後產業園區), creating up to 438 jobs, the ministry said.
At the request of its US clients, and due to the effects of the US-China trade dispute, the company’s new plant in Chiayi would introduce automated production lines for server chassis.
It also plans to develop new products through strategic alliances with makers of central processing units, hard discs, fans, RAID controllers and power supplies, the ministry said.
The company would continue to focus on white-box server markets in the US and China, while expanding in new markets in Australia, Europe, India and ASEAN, the ministry said.
Other investments that the ministry approved last week included those by Sunlite Electronics Co (大三得光電), Launch Technologies Co (明揚國際科技), Wintek Sealing Industrial Co (穩達密封工業), Shang Hao Biomedical Technology Co (上好生醫科技), Weco Sih Food Co (中港興食品), Chensu Plastics Co (謙塑工業), Tornos (Taichung) Machine Works Ltd (台灣托納斯科技), Sun Lung Gear Works Co (三隆齒輪) and LV International Co (元駿國際), it said.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
Nvidia Corp’s major server production partner Hon Hai Precision Industry Co (鴻海精密) reported 10.99 percent year-on-year growth in quarterly sales, signaling healthy demand for artificial intelligence (AI) infrastructure. Revenue totaled NT$2.06 trillion (US$67.72 billion) in the last quarter, in line with analysts’ projections, a company statement said. On a quarterly basis, revenue was up 14.47 percent. Hon Hai’s businesses cover four primary product segments: cloud and networking, smart consumer electronics, computing, and components and other products. Last quarter, “cloud and networking products delivered strong growth, components and other products demonstrated significant growth, while smart consumer electronics and computing products slightly declined,” compared with the
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
RSS