Some 20 Overseas Taiwanese Firms to Invest NT$37.8 B. in Taiwan

Taipei, Oct. 5, 2012 (CENS)--Taiwan's Ministry of Economic Affairs (MOEA) has recently inked letter of intent (LOI) with some 20 overseas Taiwanese enterprises to invest some NT$37.8 billion (US$1.26 billion) on the island.

One company is Jinn Her Enterprise Co., a major supplier of bolts & nuts, who leads by investing NT$10 billion (US$333.33 million) to establish a warehousing & logistics center in Kangshan District, Kaohsiung City, southern Taiwan.

Y.Y. Tsai, chairman of Jinn Her, says Taiwan exports about NT$150 billion (US$5 billion) in nuts and bolts a year, 70% of which produced in Kangshan where not one large warehouse and logistics center exists; while hoping the government will expedite his application for land acquisition.

Lacquer Craft Mfg. Co., a leading Taiwanese furniture manufacturer in China and also an affiliate of Samson Group, expressed intention to invest over NT$2 billion (US$66.67 million) to set up a global operating headquarters in Taichung, central Taiwan.

Samuel Kuo, chairman of Samson and also chairman of the Association of Taiwan Investment Enterprises in China, says the investment environment in China has become increasingly tougher in recent years to drive Taiwanese enterprises to relocate back home. Kuo also intends to engage in healthcare, green energy, and tourism on the island.

Sino Horizon Holdings Ltd., reinvestment in China by Taiwan-based Advanced Semiconductor Engineering Inc., plans to establish a big shopping mall in Taiwan to tap booming business due to thriving cross-strait tourism.