Investments in Taiwan Under the Three Major Programs Surpasses NT$2 Trillion!
2023-02-10
InvesTaiwan today (10th) approved the additional investments of 5 companies in Taiwan, including Formosa AdvEnergy Technology Corporation under the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan; Powerchip Semiconductor Manufacturing Corporation under the Action Plan for Accelerated Investment by Domestic Corporations; Revivegen Environmental Technology Co., Ltd., UNION Industrial Brushes, and Pin Chuang Technical Manufacturing Co., Ltd. under the Action Plan for Accelerated Investment by SMEs. At present, the three major programs for investing in Taiwan have attracted nearly NT$2.1 trillion in investments from 1,319 companies, and are expected to create 143,457 domestic employment opportunities, in which the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan has attracted approximately NT$1.1352 trillion from 281 Taiwanese businesses and created 85,333 employment opportunities; the Action Plan for Accelerated Investment by Domestic Corporations has attracted approximately NT$459.6 billion in investments from 159 domestic corporations and created 24,938 domestic employment opportunities; the Action Plan for Accelerated Investment by SMEs has attracted approximately NT$405.2 billion in investments from 879 SMEs and created 33,186 domestic employment opportunities; applications of 16 companies are still pending review.
Formosa AdvEnergy Technology Corporation is a subsidiary of Formosa Smart Energy Tech Corporation in the Formosa Plastic Group, which spans petrochemical, electronics, healthcare, and education industries in coordination with the nation’s overall economic development. The global trend of carbon reduction has driven the development of renewable energy and electric vehicles, and Formosa Smart Energy Tech Corporation will focus on energy conservation, energy storage, new energy, and recycling and reuse. Formosa AdvEnergy Technology Corporation specializes in battery cell manufacturing in the field of energy storage, and meets the demand of vehicle batteries, household energy storage, and energy storage containers. The Company plans to invest nearly NT$10.2 billion to build the largest LiFePO4 battery manufacturing plant in Taiwan in Changhua Coastal Park. The plant is aligned with the trend of energy conservation and environmental protection, and will install solar panels on its rooftop. VOCs generated from organic substances, such as electrolytic solution, in the process will be recycled to lower the impact on the environment. The investment is expected to create 540 domestic employment opportunities after it is completed, and will increase domestic battery manufacturing capabilities.
Powerchip Semiconductor Manufacturing Corporation is the world’s 6th largest semiconductor foundry, and its technologies include logic IC, power management IC, image sensing devices, DRAM, flash memory, micro controller, and discrete devices. With consideration to the volatile international economic and trade situation, and separation of supply chains, the company has dedicated its efforts to development in Taiwan, and improved process technologies to develop semiconductor products with high added value. The company plans to build a plant in Tongluo Science Park of Hsinchu Science Park, and invest NT$60 billion over the next 3 years in smart production lines, utilizing innovative technologies such as AI, big data, and IoT to effective enhance its manufacturing capabilities. Furthermore, this investment will continue to introduce energy conservation and carbon reduction technologies, and plans to increase the percentage of green electricity use, as well as energy and resource recycling systems. This expansion of production capacity is expected to create job opportunities for high-tech talent in Taiwan, and achieve the goal of steady business growth.
Revivegen Environmental Technology Co., Ltd. specializes in waste incineration/physical treatment and sale of recycled solvent and steam. Turning waste into energy is an important link of innovation in the industry today. The company’s first application for the Action Plan for Accelerated Investment by SMEs was approved in August 2019. For the second application, the company plans to invest nearly NT$20 million to add waste treatment equipment, solid recovered fuel production line, and waste container recycling process equipment in its plant in Liuying District, Tainan City, expanding the scope of operations to inorganic waste treatment. Furthermore, the plant will be planned towards energy conservation and carbon reduction, solar panels are installed on the plant’s rooftop, and waste, and waste generated by the production line can be recycled in the plant. The investment is expected to create 6 domestic job opportunities once it is completed.
UNION Industrial Brushes specializes in the design and manufacturing of industrial brushes. Its main products include power brushes, precision brushes, technology brushes, large roller brush, and FM roll. It understands brush materials suitable for brushing, grinding, polishing, and cleaning, and provides customized services. It markets products in Southeast Asia, Japan, China, Europe, and America under its own brand UNION Brush. The company plans to invest over NT$300 million to build a plant in the South District of Tainan City, and will install smart machinery and equipment to increase production efficiency. With regard to energy conservation and carbon reduction, a solar PV system will be installed on the plant’s rooftop, and the plant will use energy-efficient and low carbon equipment. The investment will improve product quality and lay the foundation for developing smart manufacturing. It will allow Taiwan’s industrial brushes to reach international standards, and is expected to create 18 domestic job opportunities.
Pin Chuang Technical Manufacturing Co., Ltd. mainly engages in aquatic product processing and produces prepared food. Product categories include salmon, shrimp, salted and dried fish, and shellfish. The company provides high quality food to customers through wholesalers, supermarket chains, e-commerce, and the catering industry. The company will hire 19 domestic employees and invest NT$500 million to build a new plant and cold storage warehouse in response to market demand. Furthermore, the plant will be planned into a green building, which is aligned with the trend of carbon reduction, and will increase the percentage of green electricity use and install a heat recycling system. The plant will effectively reduce energy consumption via a smart freezer monitoring system, in order to achieve sustainability and enhance its competitiveness.
Source： Department of Investment Services, MOEA
