Published Date: 2021-12-03
A government
program encouraging Taiwanese businesses to invest back into Taiwan has
achieved its target early. That was the word from Economics Minister Wang
Mei-hua on Friday.
The three-pronged
program offered incentives such as special loans and favorable terms regarding
land taxes to draw investment in Taiwan.
Wang says that
between the program’s launch in July 2019 and Friday, the program had convinced
1,082 companies to invest over NT$1.5 trillion (US$54 billion) in Taiwan.
Wang said that
interest in the program has grown significantly in the last six months, in
particular. She said one reason for this is what she called “international
factors” pushing Taiwanese companies to bring their outsourced operations back
to Taiwan. She said another reason is the fact that most Taiwanese companies
returning from overseas are high-tech manufacturers, which has created a more
complete supply chain within Taiwan.
Wang was asked
whether Taiwanese companies are deciding to bring back their operations from
China due to power shortages and Beijing’s recent fining of Taiwan’s Far
Eastern Group. Wang said that it is instead the growing insistence of US
customers that products be made outside of China, plus Taiwan’s transparent
legal system and efficient government that have convinced Taiwanese companies
to invest in Taiwan once again.