At a Cabinet meeting Thursday, Premier Su Tseng-chang directed government agencies to make every effort to clear investment obstacles faced by overseas Taiwanese companies looking to return home. These companies will help transform and upgrade domestic industries while laying a strong foundation for Taiwan's economic future. Companies that have remained in Taiwan deserve recognition and encouragement as well, he said.
The premier made the remarks following a Ministry of Economic Affairs (MOEA) briefing on efforts to bring back overseas Taiwanese firms and their investments.
Since its launch in January, the government's action plan to welcome investments by Taiwanese companies abroad has seen approval granted to 13 companies to invest NT$37.4 billion (US$1.2 billion) and create over 4,200 job opportunities in Taiwan. More than 30 additional companies have also expressed high levels of willingness to return, Premier Su added.
The MOEA said that the action plan was formed in response to the trade conflict between the U.S. and China and broad changes in the global economic and trade environment. Under the plan, companies in the electronic and information industry—especially in network communication equipment, servers and computer peripherals—have so far accounted for the highest proportion of returning firms, followed by those in the metal and machinery industry. As companies up and down the supply chain return home, the "Made in Taiwan" brand of high value-added products and key technologies will take deeper root, and local industries can look forward to faster transformation and upgrading that will yield stronger competitive advantages and positions in the global industry chain.