Taiwan's economics ministry approves three firms' investments

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The Ministry of Economic Affairs said Thursday that it has approved applications from Hannstar Display Corp. and two unnamed firms to invest in Taiwan under a plan launched by the government to encourage overseas Taiwanese businesses to invest at home.

The three companies are estimated to invest more than NT$22.8 billion (US$748 million), and create about 2,255 new jobs, according to the ministry.

Applications from 84 companies, including the latest three, have been approved since the program was launched in January, and the more than NT$434.6 billion in investments by the companies are expected to create around 39,110 new jobs, the MOEA said.

Among the three is an unnamed linear motion components manufacturer which plans to inject more than NT$7.2 billion to build a factory at Changbin Industrial Zone in Lukang, Changhua County and recruit 1,000 workers.

Another is a company that produces linear rolling motion components for use in semiconductor, electronics, biomedical and machine tool industries.

To ensure sustainable growth, the company decided to expand production and research and development facilities in Taiwan by setting up a global operational headquarters at the Southern Taiwan Science Park, investing NT$7.7 billion to build a factory in another industrial park in Tainan and hiring 320 domestic professionals.

Meanwhile, Hannstar Display Corp., which is primarily involved in the research and production of monitors, notebook displays, and televisions, is expected to invest NT$7.91 billion in assembly lines at the Southern Taiwan Science Park and create 935 jobs.