Tsai government nears goal of bringing 50 companies and NT$250 billion in investment back to Taiwan
By: Keoni Everington, Taiwan News, Staff Writer
TAIPEI (Taiwan News) — Taiwan has been making the most of the U.S.-China trade war by successfully luring back 40 Taiwanese companies and is on a pace to quickly surpass its year-end a goal of 50 firms and NT$250 billion (US$8 billion).
As the tariff war kicked in last year, many Taiwanese companies found themselves caught in the crossfire with their costs at factories in China skyrocketing, suddenly making Taiwan much more appealing. Taiwan President Tsai Ing-wen (蔡英文) capitalized on this opportunity by starting the “Invest Taiwan” campaign last year to incentivize Taiwanese companies to return from China.
The Tsai administration says that overseas compatriots and foreign entrepreneurs invested NT$536.5 billion in Taiwan last year, an increase of 31 percent over the previous year, reported TVBS.
The Ministry of Economic Affairs (MOEA) Invest Taiwan office reports that in the past four months, it has generated NT$200 billion in returnee investments. At this rate, the country will easily meet it’s year-end goal of NT$250 billion by the end of May. [FULL STORY]