Several Taiwanese companies have applied to bring their overseas operations back home, attracted by a slew of government incentives, and their initial investments will total NT$39.9 billion (US$1.29 billion), the Ministry of Economic Affairs (MOEA) said Friday.
Since the incentive plan was launched in January, the ministry said, it has approved 14 applications by Taiwanese companies seeking to return, while another 14 are being processed. The 14 companies that have already gained approval will bring back NT$39.9 billion-worth of investments, which will create 4,400 new jobs in Taiwan, the ministry said.
Among them are Quanta Computer Inc., a manufacturer of notebooks and other electronic hardware, and Giant Manufacturing Co., one of the world's leading bicycle brands, the MOEA said.
Giant, which gained MOEA approval last week, will invest NT$5 billion in its new Taiwan operations as it is facing higher United States tariffs on its products made in China, the ministry said.
Due to the tariffs, auto parts maker Mobiletron Co., Ltd. will also return from China, bringing NT$2.5 billion-worth of investment and creating about 220 new jobs, the ministry said.
As part of it investment, Mobiletron will install smart production facilities in its existing plant in Taichung, the MOEA added.
Meanwhile, the 14 companies awaiting approval are mainly in the electronics information and metal/machinery industries, the ministry said, adding that another 30 companies are considering returning to take advantage of the government incentives.
The incentives include easier bank loans, recruitment of migrant workers, and tailored services provided by the MOEA to each applicant.