MOEA signs deals with overseas Taiwanese firms

As of the end of last month, firms focused on overseas markets had invested about NT$39.3 billion across the nation. The Ministry of Economic Affairs (MOEA) yesterday signed letters of intent with eight overseas-based Taiwanese firms, which pledged to invest NT$31.85 billion (US$1.1 billion) in Taiwan. With these investments, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said the ministry was set to achieve its goal of attracting NT$45 billion in investment from outbound Taiwanese firms this year. As of the end of last month, overseas Taiwanese firms — homegrown firms that focus primarily on markets other than Taiwan — had invested about NT$39.3 billion nationwide, he said. Shih made the remarks at an overseas Taiwanese enterprises' investment forum organized by the ministry. The eight companies that signed the letters of intent included specialty chemicals maker Swancor Industrial Co (上緯企業), tea maker Ten Fu Group (天福集團), pharmaceutical firm TWi Pharmaceuticals Inc (安成國際藥業) and water pipe manufacturer Kuo Toong International Co (國統國際). The others were machinery tool maker Fair Friend Enterprise Group (友嘉實業) and shoemaker Fulgent Sun Group (鈺齊國際), among others. Swancor said it would apply its know-how in producing components for wind generators to its plans to build offshore wind generators near Miaoli County that would cost NT$20 billion. The investment will span six years and it aims to complete wind generators that can produce up to 6 megawatts by 2015. The chemicals maker also has plans to recruit 150 to 200 personnel for its upcoming research and development hub to be located in Greater Taichung. The facility will focus on the development of LED, among other things. Ten Fu Group, the Chinese brainchild of Taiwan's Ten Ren Group (天仁集團), is going to establish a tea museum in Taiwan. It also intends to make a foray into the tourism industry by opening a hotel in the near term.