A total of NT$703.4 billion (US$23.06 billion) in homebound investment has been pledged year to date by 156 Taiwan-owned companies operating in China, according to InvesTaiwan Nov. 28.
This commitment is forecast to create 56,000-plus new jobs in manufacturing sectors under strategic government promotion, the interministerial organization overseen by the Ministry of Economic Affairs said. Such strong numbers exceed targeted projections and reflect confidence in Taiwan’s business climate, as well as the effectiveness of related government policies, InvesTaiwan added.
At the vanguard of these measures is the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan. Launched in January, the three-year program tailors to firms potentially affected by the U.S.-China trade conflict.
Key components of the plan include fast-tracked utilities applications, land rental concessions, flexible foreign labor recruitment regulations and preferential loan financing.
New Taipei City-headquartered Mei Jer International Co. Ltd. is the latest beneficiary of the program. Operating in southern China for 26 years, the supplier of plastic floor tiles will set up an NT$2.6 billion stone-plastic composite plant generating 245 jobs in southern Taiwan’s Tainan City.
Two other investment undertakings catering to companies unable to qualify for backing via the plan are paying handsome dividends. InvesTaiwan said NT$87 billion pledged by more than 90 businesses has been greenlighted by the MOEA since the launch of the initiatives in July.
Total investment of NT$1.18 trillion creating 104,000 employment openings and output of NT$3.16 trillion is anticipated over the 36-month terms of the three plans, InvesTaiwan added.
Source: Ministry of Foreign Affairs, Republic of China (Taiwan)