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Five overseas Taiwanese firms pledge NT$15.4 billion investment

2019/04/19 21:15:03

Image taken from TYC's Facebook page

Taipei, April 19 (CNA) Five Taiwanese firms operating overseas have pledged to invest about NT$15.4 billion (US$500 million) in Taiwan, answering a government call to move some of their investments back to Taiwan, the Ministry of Economic Affairs (MOEA) said Friday.

The MOEA said the investments by the five companies have boosted the total amount pledged by 35 firms since the government launched incentives in January to encourage Taiwanese companies to return to more than NT$137 billion.

The incentives are aimed at urging Taiwanese firms to bring some of their overseas operations, especially those in China, back to Taiwan at a time of trade friction between Washington and Beijing.

The incentives include giving returning companies easier access to bank loans and a simplified process for recruiting migrant workers, as well as providing services tailored to their needs.

The MOEA said the 35 firms that have promised to return home are expected to create more than 11,800 jobs in Taiwan, which has been touted by the government as part of its efforts to boost the local economy.

Among the latest five firms, TYC Brother Industrial Co., a car light supplier, will invest more than NT$4 billion to set up a large smart warehouse in Tainan, while it plans to install automation equipment for smart production, the MOEA said.

In addition, Awea Mechantronic Co., a machine tool maker, will invest NT$2.35 billion to build new production lines in a factory in Chiayi and expand another plant based in Hsinchu, the MOEA added.

As a connector and adaptor maker, Acon Optics Communications Inc. has promised to invest NT$160 million to expand optical communication equipment production capacity in New Taipei and Hsinchu at a time when the country is gearing up to develop its 5G technology, according to the MOEA.

The ministry said Coating P. Materials Co., a thermoplastic polyurethane (TPU) product maker, has pledged to invest NT$2.6 billion in a plant in Taichung by adding medical material production lines, while Ginko International Group, one of the leading contact lens makers in Taiwan, aims to invest NT$6.25 billion to expand its production capacity in the Central Taiwan Science Park for exports to the U.S. and European markets.

(By Tsai Peng-min and Frances Huang)