Premier Cho Jung-tai said July 3 that the government is expanding the scope and duration of its three major investment promotion projects, and anticipates that the initiatives will create 80,000 more jobs and attract NT$1.2 trillion (US$41.6 billion) in domestic investment.
Launched in 2019 in response to trade friction between the U.S. and China, the three initiatives are the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan, Action Plan for Accelerated Investment by Domestic Corporations and Action Plan for Accelerated Investment by Small and Medium Enterprises.
Citing statistics compiled by the Ministry of Economic Affairs, Cho said the projects have prompted 1,678 firms to invest NT$2.54 trillion in Taiwan and created more than 160,000 jobs so far.
Cho said such impressive results are reflected in the country’s placement at No. 6 in the latest World Competitiveness Ranking published last month by Switzerland-based International Institute for Management Development. Taiwan moved up two spots on the list, with its global standing in the subcategory of economic performance jumping from 26th to 10th, he added.
Building on the success of the action plans and taking into account President Lai Ching-te’s five strategies in response to the new U.S. tariff polices, Cho said the government is extending the duration of the three projects to 2027 and expanding their scope to encompass investors around the world.
Equally important, the targeted sectors will include health care, service industries and the president’s Five Trusted Industry Sectors. A budget of NT$720 billion is earmarked for preferential business loans, and firms will be able to hire more migrant workers if they meet certain criteria. (SFC-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
Launched in 2019 in response to trade friction between the U.S. and China, the three initiatives are the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan, Action Plan for Accelerated Investment by Domestic Corporations and Action Plan for Accelerated Investment by Small and Medium Enterprises.
Citing statistics compiled by the Ministry of Economic Affairs, Cho said the projects have prompted 1,678 firms to invest NT$2.54 trillion in Taiwan and created more than 160,000 jobs so far.
Cho said such impressive results are reflected in the country’s placement at No. 6 in the latest World Competitiveness Ranking published last month by Switzerland-based International Institute for Management Development. Taiwan moved up two spots on the list, with its global standing in the subcategory of economic performance jumping from 26th to 10th, he added.
Building on the success of the action plans and taking into account President Lai Ching-te’s five strategies in response to the new U.S. tariff polices, Cho said the government is extending the duration of the three projects to 2027 and expanding their scope to encompass investors around the world.
Equally important, the targeted sectors will include health care, service industries and the president’s Five Trusted Industry Sectors. A budget of NT$720 billion is earmarked for preferential business loans, and firms will be able to hire more migrant workers if they meet certain criteria. (SFC-E)
Write to Taiwan Today at ttonline@mofa.gov.tw
from Taiwan Today – Top News