Aug 02, 2019 General Comments Off on Investment pledges top NT$500 billion goal
Taipei, A program to encourage Taiwanese companies operating overseas to invest at home has passed the 2019 target of NT$500 billion (US$15.94 billion) in investment pledges after four more companies got on board, the Ministry of Economic Affairs (MOEA) said Friday.
The four companies TXC Corp., Jebsee Electronics Co., Feedback Technology Corp. and Jarlleytec Corp. have committed to invest NT$7.4 billion in Taiwan to bring total pledges this year under the program to NT$504.7 billion.
The four companies helped the MOEA achieve the NT$500 billion goal set by President Tsai Ingwen well ahead of schedule, the ministry said.
The MOEA launched the incentive program in January to encourage Taiwanese companies that have shifted all or part of their operations overseas in recent decades, especially to China, to invest more in Taiwan to avoid high U.S. duties on products made in China.
The incentives offered include easier access to bank loans and a simplified process to recruit migrant workers, as well as services tailored to their needs.
The MOEA said that beyond the 102 companies that have already pledged investment, applications have been received from another 50 enterprises to join the program and total investment pledged for 2019 could range between NT$600 billion and NT$700 billion.
The MOEA said it will work hard to push for at least NT$170 billion of the pledged investment to be realized in the second half of this year.
On Friday, the MOEA approved an application from TXC, the largest supplier of quartz crystals in Taiwan and the fourth biggest supplier in the world, to invest NT$2.5 billion to add capacity to its plant in Taoyuan to roll out 5G technology products.
Currently, almost 80 percent of TXC's production for clients in the internet communications, automotive, smartphone and information sectors is done in China, and the company has been hurt by the WashingtonBeijing trade dispute, the MOEA said.
Jebsee Electronics, which manufactures components for video/audio electronics products and communication devices, said it will invest NT$1.5 billion in Tainan by adding smart production lines to produce products for the U.S. market, the MOEA said.
Feedback Technology, a maker of ion implanter parts used in semiconductor manufacturing, is planning to invest NT$1.5 billion to set up a new plant in Hsinchu.
The MOEA said Jarlleytec, which produces various hinges for flat panel, notebook computer and smartphone use, will invest about NT$1.8 billion to build a new production site in New Taipei as it relocates its highend production to Taiwan.
Source: Focus Taiwan News Channel