TAIPEI (Taiwan News) - April is not over yet but the government is already closing in on its target for the whole year of attracting NT$250 billion (US$8.08 billion) in planned investment from Taiwanese companies which originally left the country to invest overseas, the Central News Agency reported Thursday (April 25).
Most of the companies had established operations in China but were now interested in Taiwan again due to the trade war between the communist country and the United States, which threatened to make their exports from China more expensive.
The relevant Ministry of Economic Affairs (MOEA) department was planning to approve investment applications from five companies on Friday (April 26), which would make the total amount of investments break through the NT$200 billion barrier and also exceed the total number of 20,000 new jobs, CNA reported.
One of the investments came from an unnamed major electronics company, was worth NT$50 billion and would result in the creation of 7,000 to 8,000 jobs in Taiwan, according to an MOEA official. Electronics parts, green energy and even artificial intelligence were areas the corporation in question took an interest in.
The government has reportedly set NT$250 billion in investments as the target for all of 2019, a sum which will be relatively easy to reach since another 40 to 50 companies are considering returning to Taiwan, with 20 of those in an advanced stage in the application process, CNA reported.