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.
European Central Bank (ECB) President Christine Lagarde is expected to step down from her role before her eight-year term ends in October next year, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It is not clear yet when she might exit, the report said. “President Lagarde is totally focused on her mission and has not taken any decision regarding the end of
French President Emmanuel Macron told a global artificial intelligence (AI) summit in India yesterday he was determined to ensure safe oversight of the fast-evolving technology. The EU has led the way for global regulation with its Artificial Intelligence Act, which was adopted in 2024 and is coming into force in phases. “We are determined to continue to shape the rules of the game... with our allies such as India,” Macron said in New Delhi. “Europe is not blindly focused on regulation — Europe is a space for innovation and investment, but it is a safe space.” The AI Impact Summit is the fourth
CONFUSION: Taiwan, Japan and other big exporters are cautiously monitoring the situation, while analysts said more Trump responses ate likely after his loss in court US trading partners in Asia started weighing fresh uncertainties yesterday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war. The court’s ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world’s largest chip maker and a key player in tech supply chains. Within hours, Trump said he would impose a new 10 percent duty on US imports from all countries starting on
STRATEGIC ALLIANCE: The initiative is aimed at protecting semiconductor supply chain resilience to reduce dependence on China-dominated manufacturing hubs India yesterday joined a US-led initiative to strengthen technology cooperation among strategic allies in a move that underscores the nations’ warming ties after a brief strain over New Delhi’s unabated purchase of discounted Russian oil. The decision aligns India closely with Washington’s efforts to build secure supply chains for semiconductors, advanced manufacturing and critical technologies at a time when geopolitical competition with China is intensifying. It also signals a reset in relations following friction over energy trade and tariffs. Nations that have joined the Pax Silica framework include Japan, South Korea, the UK and Israel. “Pax Silica will be a group of nations
RSS