Government efforts to accelerate domestic investment are paying dividends as applications from seven Taiwan businesses to invest a total of NT$2.61 billion (US$87 million) have been approved, according to information released May 28 by InvesTaiwan overseen by the Ministry of Economic Affairs.
Topping the list with investment of around NT$900 million is CSERL Environmental Resource Corp., a Kaohsiung City-based waste management business established with support from the MOEA in 2018.
Following suit is Chanson Metal Profiling Co. Ltd., a local manufacturer specializing in bar peeling, burnishing and straightening. The company is set to pour in NT$600 million to establish a new factory in central Taiwan’s Changhua Coastal Industrial Park.
Cathay Consolidated Inc., which turns out top-notch technical fabrics in northeastern Taiwan’s Yilan County, will ramp up its investment by nearly NT$400 million to increase production of textiles used in medical air mattresses and stretchers amid the COVID-19 pandemic, while a resealable polyethylene bag producer headquartered in western Taiwan’s Yunlin County, whose name was not released, will inject the same amount.
The other companies pledging to increase investment are Super Good Health Technology Co. Ltd., an air filter manufacturer headquartered in Kaohsiung, with NT$130 million; Dunitek Co. Ltd., a computer desk producer in southern Taiwan’s Chiayi County, NT$100 million; and Bonnie House Co. Ltd., an essential oil supplier in Kaohsiung, NT$80 million.
The successful applications are a result of three major programs launched by the government in July 2019 as a key part of efforts aimed at boosting businesses’ confidence in local investment. The programs include the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan, Action Plan for Accelerated Investment by Domestic Corporations and Action Plan for Accelerated Investment by SMEs.
According to MOEA, 510 businesses have utilized the programs to invest a total of NT$1.149 trillion in Taiwan to date. The applications of 41 more businesses are currently pending review. (YCH-E)
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