Talent deficit Taiwan's biggest problem for returnee investors: MOEA

Five more returning overseas Taiwanese companies to undergo credential assessment before April 27

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Taipei CBD skyline.

Taipei CBD skyline. (By Wikimedia Commons)

TAIPEI (Taiwan News) — A talent deficit is the biggest problem Taiwan must solve as more and more overseas Taiwanese companies move back and invest in the country, said the Ministry of Economic Affairs (MOEA).

Businesses are returning to Taiwan at an increasing pace. The government announced on Thursday (April 25) that it will likely reach its NT$250 billion returnee investment target in May, according to the Central News Agency.

Invest Taiwan, an office of the ministry, implemented an action plan for welcoming businesses back to Taiwan earlier this year. In the past four months, it has generated NT$200 billion in returnee investments.

35 companies have undergone credential assessments this year, according to a MOEA official, with five more assessments scheduled to be completed on April 26. One of the five is a major electronics manufacturer set to invest NT$50 billion and create between 7,000 and 8,000 jobs, they added.

The new investments will see old factories reactivated or new plants built in six or seven locations across Taiwan, they said, including Taipei, Taoyuan and Taichung.

The government has sought cooperation with industrial leaders such as Chunghwa Picture Tubes Ltd. and Career Technology Co. to help address a temporary manpower shortage, CNA reports.

The current demand for new land is small, the official said. A talent and manpower deficit is the most important issue that must be addressed in the short term—especially in Taoyuan, Hsinchu and Miaoli.