The Ministry of Economic Affairs recently said it has approved US$16.09 billion in investments as another four companies joined a government program aimed at boosting investment in the nation.WebSite(Open In New Window)
As a trade dispute between the US and China continues, the ministry has approved 102 companies returning to invest in the nation, providing up to 43,900 job opportunities, while another 50 companies are waiting in line.
TXC Corp, the nation’s leading quartz crystal components maker, is to invest NT$2.5 billion to expand production of parts using 5G and microelectromechanical system technologies at the company’s plant in Taoyuan’s Pinzheng District.
Jexsee Electronics Co Ltd, which specializes in the production of TVs, plans to relocate production from China and invest more than NT$1.5 billion by setting up a smart production plant in Taichung Industrial Park. The company is to create an estimated 300 jobs.
Machinery parts manufacturer Feedback Tech Corp, which produces semiconductors, display panels and DRAM, is to invest NT$1.5 billion in a new plant in Hsinchu City’s Xiangshan District and recruit about 38 people.
The world’s second-largest manufacturer of hinges used in laptops, display panels and other electronic devices, Jarllytec Co Ltd, plans to invest NT$1.8 billion to set up a new plant in the New Taipei Industrial Park and create an estimated 70 job opportunities.
The ministry also approved three small and medium-sized enterprises’ applications to join a similar government program.
Atom Health Corp, Propower Fastener Corp and Pang Chan Metals Co Ltd are to invest more than NT$1 billion to increase production in Taiwan and create about 130 jobs.
With US President Donald Trump recently announcing another round of 10 percent tariff on US$300 billion of Chinese goods, the Bureau of Foreign Trade warned of a bigger impact on Taiwan’s economy, which depends heavily on exports.
The potential tariffs include products such as smartphones, PCs and other communication devices, steel products and machinery equipment, as well as other consumer goods, the bureau said, adding that original equipment manufacturers would be directly affected, while machinery equipment makers would see a decrease in Chinese investment.
However, the textile industry would suffer less of an effect as a majority of companies have relocated production sites from China, the bureau said.
Source: Taipei Times
Nina Lin (email@example.com)