MOEA approves proposed NT$27 billion in investments by Google

Taipei, April 22 (CNA) The Ministry of Economic Affairs has approved two applications from U.S.-based tech giant Google to invest an additional NT$27 billion (US$857 million) in Taiwan to expand its data processing and semiconductor-related businesses.

In a statement Tuesday, the MOEA's Department of Investment Review said Google got the green light to invest about NT$25.34 billion in Taiwan through wholly owned subsidiary Fructan Holdings Singapore Pte. in data processing and electronics information services.

Google has also obtained the MOEA's approval to invest another NT$1.74 billion in Taiwan through wholly owned subsidiary Connectds Singapore Pte. to handle semiconductor-related purchases, the statement said.

While the MOEA did not reveal details about Google's new investments, local media said they will be used to pay off debt built up by the company in expanding its cloud-related business and setting up a data center in the Changbin Industrial Park in Changhua County.

In addition to the Changbin data center, Google is planning another data center in Tainan to expand its AI business, local media said.

According to the MOEA, Google was applying for investment approvals in Taiwan for a second consecutive year after seeking a green light in 2025 to invest NT$7 billion through its United Kingdom subsidiary.

In a recent interview with CNA, Rick Osterloh, senior vice president of Devices & Services at Google, said Taiwan is playing a "central role" in Google's transition toward AI-based computing, as well as in the broader industry shift.

Meanwhile, the MOEA statement said it had also approved an application filed by Cayman Islands-registered KKcompany Technologies to remit US$55.20 million to Taiwan to take an 88.72 percent stake in online learning platform operator Taiwan Pressplay Inc.

As for outbound investments, the MOEA approved four projects, including an application filed by contract notebook computer maker Compal Electronics to invest US$85 million in Virgin Islands-registered AC Advanced Tech L.P. for financial investments, the statement said.