TAIPEI (Taiwan News) — A government promotion program to attract investors, including Taiwanese businesses active overseas, to Taiwan is likely to be extended by up to three years, National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said Wednesday (Dec. 8).
The program features loan and land rental benefits to encourage mostly Taiwanese investors who have moved to China to come back. While the measures were launched as the United States and China engaged in a trade war, power supply problems and recent threats of action by the Chinese government against businesses supposedly funding Taiwan independence will continue to drive supply chains to relocate, CNA reported.
At a forum on Wednesday, Kung said the government had already decided to continue the program for at least one more year beyond its original end date of 2022. However, a three-year extension is also a possibility, he added.
There would be new conditions, most likely a demand to reduce carbon output and to consider environmental, social, and corporate governance (ESG), according to the minister. Kung emphasized that taking steps in that direction would benefit investors in the long run.