The Ministry of Economic Affairs is considering extending wage subsidies for convention and exhibition businesses for another quarter, as a COVID-19 outbreak earlier this year weighed heavily on the sector, the Central News Agency reported yesterday.
The ministry allocated NT$220 million (NT$7.88 million) in wage subsidies for the convention and exhibition industry in the second quarter, as it was heavily affected by a resurgence of local COVID-19 infections starting in the middle of May.
The outbreak prompted the government to issue a nationwide level 3 COVID-19 alert, which limited social gatherings to a maximum of five people indoors.
Photo: Lin Jin-hua, Taipei Times
Consequently, several conferences and exhibitions either shifted online or were canceled in the following months, heavily affecting companies in the industry, the bureau said.
For instance, Computex Taipei was forced to take place from May 31 to June 30 using an “online-merge-offline” hybrid model, allowing people to participate in the computer and technology trade show remotely and gain industry insights despite virus restrictions.
While the government downgraded the alert to level 2 on July 27 and increased the maximum number of people allowed at indoor gatherings to 80, it remains difficult for companies to hold conventions or exhibitions due to lingering concerns over COVID-19, the bureau said.
As a result, the ministry is considering continuing wage subsidies this quarter as a show of support, the bureau said, without elaborating on a timeline for applications or the amount of its relief budget.
With a cap of NT$20,000 per employee, the ministry had subsidized up to 40 percent of the payroll of companies that reported a 50 percent year-on-year drop in revenue, on the condition that owners did not reduce staff or cease operations.
The ministry received applications from June 7 to Aug. 2. To qualify, companies had to submit documents showing their sales had dropped significantly.
About 700 firms in the convention and exhibition industry applied for wage subsidies last quarter, the bureau said, adding that it had used up the NT$220 million relief budget.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
RSS