CHALLENGES IN CHINA: The company’s investment is by far the largest among the 153 applications submitted to a government program since the beginning of the year
Date: Nov 15, 2019
By: Natasha Li / Staff reporter
Flat-panel maker Innolux Corp (群創) is to invest NT$70.1 billion (US$2.29 billion) in Taiwan, the Ministry of Economic Affairs said yesterday, after approving the company’s plan to participate in a government program encouraging Taiwanese firms to return and invest at home.
Innolux’s investment is by far the largest among the 153 applications submitted to the program since the beginning of the year.
The applicants have pledged to invest NT$697.1 billion — of which NT$200 billion has been committed for this year — and create 56,294 job opportunities, the ministry said.
Facing rising production costs in China and an oversaturated flat-panel market, as well as trade difficulties due to US tariffs on Chinese-made goods, the Miaoli-based Innolux has decided to set up an automated “Zero Touch” production facility in Tainan’s Southern Taiwan Science Park (南部科學園區), the ministry said. [FULL STORY]