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US$4 bil. in investment by returning firms already approved in '12: MOEA

TAIPEI, Taiwan -- The Ministry of Economic Affairs (MOEA) said it has approved 11 applications by overseas Taiwanese businesses to reinvest in Taiwan since the beginning of the year, with the investments to reach more than US$4 billion.

That marked a success in measures to expand investments here to pump up export momentum, the MOEA said in a statement released Friday, adding that the companies planning to make the investments play a crucial role in the global supply chain.

The total value of the new investment projects was assessed to reach NT$126 billion (US$4.36 billion), and they were expected to create around 16,000 new jobs for the island, the ministry said.

Last November, the government agency began a program aimed at attracting investments by overseas Taiwanese businesses, after forecasts indicating a declining economic growth due to the global slowdown and China's active moves to construct its own supply chain to gradually lessen its reliance on foreign makers.

Under the program, the government helped the companies in terms of finding manpower, land acquisition, equipment import, loans and investment environment.

The companies have business operations in America, Europe and Southeast Asia.

Businesses that qualify for government assistance must have their own brands that are circulating in the international market. Their products also must either have high added value or be the key parts and components of certain industrial products, according to the ministry.

The 11 businesses that have won government assistance include Catcher Technology Co., a manufacturer of computer cases and cases for electronic communication products; travel case producer Eminent Luggage Co.; and tire maker Kenda Rubber.

Sources familiar with the issue revealed that all the 11 home-returning businesses have found land in Taoyuan, Hsinchu, Yunlin and Tainan to house their factories.

Production is expected to begin by 2014 at the earliest, the sources said.

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