Total of 24 Taiwanese companies returning home to invest

MOEA approved 6 new cases Friday

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So far this year, 24 companies have decided to return to Taiwan to invest.

So far this year, 24 companies have decided to return to Taiwan to invest. (By Central News Agency)

TAIPEI (Taiwan News) - Another six Taiwanese companies decided to return to the island to invest, bringing the total this year up to 24 for a combined value of NT$91 billion (US$2.95 billion), the Ministry of Economic Affairs (MOEA) announced Friday.

The government has been encouraging Taiwanese companies to pay more attention to the local market, and the move has speeded up due to the current trade war between the United States and China, which has contributed to Taiwanese firms wanting to leave the communist country.

The 24 cases approved since the beginning of 2019 would result in the creation of 9,000 jobs in Taiwan, the Liberty Times quoted the MOEA as saying.

The trend was still heating up, with more than 50 other companies evaluating the possibility of moving at least part of their production back to the country, the ministry added.

The list of companies approved Friday included a manufacturer of textile products with the U.S. as its main market, and producers of car parts and machinery, with the new investments spread over the island, including Tainan, Taichung and Taoyuan.

The new factories would make use of advanced technology in order to upgrade the quality of the products, the Liberty Times reported.