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21 April
Sunday

Asia

Overseas Taiwanese firms to invest billion dollars in Taiwan

The total amount is NT$17 billion

Photo: CNA

/NOVOSTIVL/ Four Taiwanese firms with operations in China are planning to shift some of their investments to Taiwan to avoid the impact from trade disputes between the United States and China, and the total amount they plan to invest will be around NT$17 billion (US$552 million), according to the Ministry of Economic Affairs (MOEA). This article appeared in the China News Agency.

The four companies - Long Chen Paper Co., broadband connection device provider Sercomm Corp., contact lens maker Unicon Taiwan, and a printed circuit board (PCB) supplier which declined to be identified - are expected to create 3,300 new jobs, according to the MOEA.

They are the latest group of Taiwanese investors operating overseas, who have responded to the MOEA's call to return to Taiwan.

The ministry launched incentives in January to encourage Taiwanese firms to return to the country to invest at a time of trade friction between Washington and Beijing.

The trade dispute could seriously hurt Taiwanese firms manufacturing in China, because the products they export to the U.S. will face higher tariffs.

Taiwan's incentives include giving the returning companies easier access to bank loans and a simplified process of recruiting migrant workers, as well as services tailored to their needs.

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