The Ministry of Economic Affairs approved nine more Taiwanese companies’ applications to join the government’s three-year action plan for domestic investment, it said on Friday.
The additions bring the number of approved applications to 927 since the beginning of 2019, when the program was initiated amid a US-China trade dispute, the ministry said in a statement on its Web site.
Another 55 firms are waiting for their applications to be reviewed, it added.
Photo: Huang Pei-chun, Taipei Times
The newly approved applicants aim to invest a combined NT$3.3 billion (US$118 million) in Taiwan, it said.
The ministry has approved more than NT$1.26 trillion in investments, which are expected to create 106,490 jobs, it said.
Automotive parts and green energy parts supplier World Known MFG (Cayman) Ltd (光隆精密), Superior Starch Co Ltd (優質澱粉), construction materials producer Road Applied Technology Inc (羅德應用材料), precision molding components maker Song Time Precision Industrial Co Ltd (松泰精密), metal forging supplier Kao Shang Industry Co (高尚工業), casting items maker Shin-Li Foundry Ltd (鑫立鑄造), CNC rotary tables and components producer Tanshing Accurate Industrial Co Ltd (潭興精工), Caitao Motors Co Ltd (凱桃汽車) and a subsidiary of seafood restaurant chain Hai Pa Wang (海霸王) are the latest firms to join the program.
The government’s action plan on domestic investment provides companies with assistance on taxes, financing, land, utilities and labor.
It comprises three programs to attract investments from Taiwanese businesses at home and abroad, and the number of companies applying to participate in the scheme has grown despite the effects of COVID-19, the ministry said.
Since early 2019, the action plan has encouraged 217 overseas Taiwanese companies to invest NT$823.4 billion in Taiwan, and potentially create 68,720 job opportunities, while 607 small and medium-sized enterprises have gained approval to invest NT$255.4 billion, which is expected to generate 23,783 jobs, the ministry said.
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