MOEA touts land incentives for "Taishang"

October 17, 2007

The Ministry of Economic Affairs (MOEA) has received a tremendous response to its program offering land to “Taishang” that return to Taiwan to invest, said Minister of Economic Affairs Steve Chen in an address at the annual meeting of the World Taiwanese Chambers of Commerce (WTCC). “Taishang” refers to Taiwanese entrepreneurs and companies investing outside of Taiwan.

The Taisugar Corporation is offering 1,000 hectares of land to returning Taiwan manufacturers and developers, which would be made available through an application process through the MOEA. To date, the ministry has received application requests for up to 4,000 hectares of land.

Representatives from the MOEA and the Taiwan External Trade Association attended the WTCC’s 13th annual meeting at the Grand Hotel in Taipei, where they took the opportunity to promote the benefits of Taiwan’s trade and investment environment. The two agencies were targeting Taiwanese companies that have operated abroad for a long period of time, said the Economic Daily News.

In his address, Minister Chen touted Taiwan’s availability of land, labor force, and funding as incentives for Taishang to consider a return. Returning investors would have an easier time obtaining land, he said.

The MOEA plans to continue with its 006688 program, which offers favorable rate incentives on land and land rental, and has agreed to allow companies to use past rent payments towards purchasing land.

Minister Chen also mentioned that previous restrictions on hiring foreign labor have been lifted, making it possible for companies to apply hire foreign labor at any time.

(Economic Daily News)

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