TAIPEI, Taiwan — The investment plans of 22 Taiwanese manufacturers operating overseas have been approved since the government launched a campaign in November to get them to invest at home, the Ministry of Economic Affairs said Wednesday.
The 22 Taiwanese companies operating abroad, commonly referred to as “Taishang,” have pledged to invest a combined NT$168.4 billion (US$5.67 billion) in projects in Taiwan that will create an estimated 23,628 jobs, the ministry said in a report delivered at a Cabinet meeting.
Of the 22 companies that had their investment applications approved, 13 are based in China while the others are located in the United States, Europe and Southeast Asia.
Ten of the 22 companies intend to invest in southern Taiwan while six each will invest in northern and central Taiwan, respectively, according to the report.
Taiwan’s government launched a campaign last November to encourage Taishang, and especially companies in China facing soaring labor rates, to invest back home.