Amended factory law to boost investment by up to NT$2 trillion: MOEA

Focus Taiwan
Date: 2019/07/16
By: Liao Yu-yang and Frances Huang

Taipei, July 16 (CNA) The newly amended Factory Management Act is expected to create up to NT$2 trillion (US$64.52 billion) in investment over the next 10 years, the Ministry of Economic Affairs (MOEA) said Tuesday.

At the end of June, the Legislative Yuan passed an amendment to the Factory Management Act, which aims to promote industrial development and strengthen factory management in Taiwan, and the new law is expected to encourage currently unlicensed low pollution factories to become legal.

The MOEA said the ministry plans to come up with complementary rules to the amended law on how these low pollution factories can become legal in September at the earliest.

Under the amended law, unlicensed low pollution factories have to apply to the MOEA within two years and submit a proposal to improve pollution and strengthen safety in three years to change their status from illegal to special factories.    [FULL  STORY]