MOEA sees delegation could generate NT$6 billion in investment

Taipei, Aug. 23 (CNA) A delegation organized by the Ministry of Economic Affairs (MOEA) that has just returned from the United States and Canada may end up generating NT$6 billion (US$189 million) in investment over the next three years, according to the MOEA.

The delegation, led by Vice Economic Affairs Minister Yang Wei-fuu, visited nine potential investors in the U.S. and Canada during its trip from Aug. 13 to 21.

Among the companies visited were Crosslight Software Inc., the Jim Pattison Group, Cabot Microelectronics Corp., and Garmin Corp., the MOEA said.

During the trip, the delegation signed letters of intent with Crosslight, a Canadian maker of technology computer aided design (TCAD) tools, Cabot, a U.S.-based semiconductor material manufacturer, and global positioning system developer Garmin on future investments in Taiwan.

Yang said the three companies that signed letters of intent and other companies that expressed interest in Taiwan could contribute at least NT$6 billion in investment in Taiwan over the next three years.

Among the three, Yang said, Garmin said it was willing to increase its investment in Taiwan to transform its production base in Taiwan into a global manufacturing and R&D center.

Cabot was cited by the MOEA as saying that its planned investment in Taiwan would be aimed at meeting rising demand from Taiwanese integrated circuit firms that are developing high-end semiconductor products.

According to the MOEA, Crosslight is eyeing the production and R&D of a new generation of highly efficient electronics components in Taiwan for use in the semiconductor industry.

The MOEA said conglomerate Jim Pattison, which has a wide range of businesses, such as entertainment and food/beverages, is studying the feasibility of setting up an aquarium and a museum in Taiwan.

The Canadian group sent a delegation to Taiwan in 2015 to survey the local market.

Lien Yu-ping, head of the MOEA's Department of Investment Services, said the ministry has provided Jim Pattison information on possible locations for the project and investment incentives available to the company.

Yang said the MOEA has agreed to provide foreign investors with any necessary assistance, including in helping them recruit talent and obtaining water and electricity supply, through a one-stop service channel.

During the trip, the government-sponsored Institute for Information Industry also signed a memorandum of understanding with Canada's innovation technology research group Wavefront to develop wireless communications technology, the MOEA said. (By Huang Chiao-wen and Frances Huang)