Seven more firms pledge to invest over NT$34 billion in Taiwan

Taiwan News
Date: 2019/05/04
By:  Central News Agency

The number of investors returning to Taiwan keeps increasing rapidly, says the MOEA. (By Central News Agency)

An additional seven Taiwanese firms have pledged to invest more than NT$34 billion in Taiwan at a time when the government is urging companies operating overseas to relocate some of their investments back to the island, according to the Ministry of Economic Affairs (MOEA).

The seven firms’ NT$34.1 billion investment plans, which are expected to create 2,200 new jobs, have pushed up the total amount of investment pledged back to Taiwan to NT$239.8 billion, and total number of companies to 47 so far this year, the MOEA said.

It said the 47 firms are expected to add more than 23,000 new jobs in the local market, and that the investments will speed up the pace for Taiwan to build a more comprehensive industrial cluster and strengthen its supply chain.

The ministry launched incentives in January to encourage Taiwanese companies that have shifted their operations overseas in recent decades, especially to China, to return to the country to invest at a time of trade frictions between Washington and Beijing.

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