The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement.
The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said.
It marks the second consecutive year that Google has applied to increase its investment in Taiwan.
Photo: CNA
Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and invest another NT$1.74 billion in Google Taiwan Supply Chain Ltd (台灣科高供應鏈) through its Singapore-registered unit Connectds Singapore Pte Ltd, the ministry said.
The US search giant in March last year was approved to invest NT$7 billion in Google Taiwan Engineering Ltd (台灣科高工程) through its UK subsidiary Google Engineering UK Holdings Ltd for hardware and electronic information software development, it said.
The department yesterday approved seven investment applications, including granting Cayman Islands-registered KKCompany Technologies Inc, Asia’s leading artificial intelligence multimedia technology group, permission to acquire 88.72 percent of Taiwan PressPlay Inc (瑞奧股份) for US$55.2 million to develop online learning platforms and conduct media creator agency business.
Contract electronics maker Compal Electronics Inc (仁寶電腦) was approved to invest US$85 million in British Virgin Islands-registered AC Advanced Tech LP for investment consulting, portfolio management and fund management business.
DRAM chipmaker Nanya Technology Corp (南亞科技) won permission to infuse US$400 million in British Virgin Islands-registered Nanya Technology International Ltd for general investment purposes, the ministry said.
Meanwhile, wire-and-cable maker Walsin Lihwa Corp (華新麗華) was approved to invest 70 million euros (US$82.32 million) in its Luxembourg-based unit Walsin Lihwa Europe SARL to conduct investments across Europe, it said.
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