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2019-11-21
InvesTaiwan today (21st) convened the 43rd joint review meeting for the “Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan” and the 11th joint review meeting for the “Action Plan for Accelerated Investment by Domestic Corporations.” The investment of over NTD600 million by Froch Enterprise Co., Ltd., the world’s third largest stainless steel pipe manufacturer and Investments exceeding NTD4.6 billion by four domestic corporations, namely Gain How Printing Co., Ltd., Tension Stell Industries Co., Ltd., ZYH YIN Enterprise Co., Ltd., and MACHVISION Inc. Co., Ltd. were approved during the meeting.
Froch Enterprise Co., Ltd. has marketed its brand Froch in more than 100 countries around the world over the past 40 more years. It is the largest stainless steel pipe manufacturer in Taiwan and the third largest worldwide. Stainless steel is a high quality product which is resistant to high temperature and corrosion, durable, and has a clean surface. It is an essential material used in the chemical engineering industry, papermaking industry, electronics industry, food industry, and wastewater treatment industry. The US-China trade war caused a sharp decline in demand and severely impacted its operation In coordination with its overall development in the future, the company decided to seize the business opportunities from transferred orders, and will invest over NTD600 million to establish a new factory in Douliou City, Yunlin, adding a smart production line to increase high added value products and production capacity, and also enlarge its market share. This investment will create 75 employment opportunities in Taiwan.
The four investments that were approved for the Action Plan for Accelerated Investment by Domestic Corporations all are industry leaders. Gain How Printing Co., Ltd. bravely engaged in innovation and took a leap from a conventional printing company into a blue ocean in the Cloud, becoming the supplier of convenience store bonus point stickers, coffee mugs, business cards, flyers for real estate agents and automobiles, and election campaign materials. The company has become the largest Cloud printing base among three areas by the Taiwan Strait. The company has dedicated its efforts to smart manufacturing in recent years. In light of the increasing ratio of customized orders with lower quantity and greater variety, and smart digital printing machines have become the market’s mainstream. To enhance its market competitiveness, the company will invest NTD1.3 billion to establish smart production lines in its new factory at Taichung Industrial Park, integrating IoT, big data, and smart production to increase product accuracy and efficiency. This will allow the company to meet highly customized demands and expand market opportunities worldwide. This investment will bring 160 employment opportunities to Greater Taichung.
Tension Stell Industries Co., Ltd. has stood firm in Taiwan’s steel pipe manufacturing industry for four decades. It endured the financial tsunami and resolutely remained in Taiwan when its downstream companies relocated overseas, and focused on high strength and high quality structures, nuclear power plants, automobiles, pipes for power cables, and other high added value products to turn crisis into an opportunity for marketing its products in Taiwan and overseas. The US-China trade war once again impacted the global steel pipe market, and made business even more difficult for the steel industrial chain. To achieve sustainable development, Tension Stell Industries Co., Ltd. decided to invest NTD1.2 billion to build a smart factory, comprehensively optimizing its production lines and processes to improve its pipe production technologies. The company will also recruit 30 domestic employees to bring its pipe business to a new peak.
Even though fasteners may seem insignificant, they play a key role in high quality equipment. ZYH YIN Enterprise Co., Ltd. is the leader in terms of furniture fasteners in Taiwan, and is also the world’s number one manufacturer of screws for furniture. It has dedicated its efforts in Taiwan for over 30 years, and exports to over 50 countries. It is the largest supplier of screws for the Swedish furniture brand IKEA, and has also become a part of the supply chain for major European and American wholesalers and retailers. To increase its output value and meet the demand of IKEA on a large variety of products in small quantities, as well as the ultra short delivery time of 7 days, the company decided to invest over NTD900 million and will recruit 30 domestic employees for a smart factory in Yenchao District, Kaohsiung City, which will use smart machinery and equipment. The company will expand its current warehouse and transform it into a smart manufacturing base, and will continue to work with the Industrial Development Bureau in implementing AI in its smart factory. In the future, the company will step into the automobile and aerospace industries to make Taiwan become the global leader in fasteners.
MACHVISION Inc. Co., Ltd. is a leading manufacturer of automated optical inspection (AOI) equipment and has been well-known around the world. It has the most advanced technologies in the industry, and 90% of printed circuit board (PCB) and large packaging plants in Taiwan are its customers. Its customers are returning to invest in Taiwan due to the trade war, and this will significantly increase the demands on equipment. To meet this demand with nearby capacity, the company decided to invest NTD1.2 billion to establish a factory in Hsinchu Science Park to increase its capacity. The company adopts a whole factory sale model and AI strategy for integrated inspection to expand the market share of its current products. The company will continue to invest in the research and development of new products, such as smart camera, to be ready for the era of 5G, and will also direct its efforts to AI, IoT, big data, and block chain, in hopes of maintaining long-term growth momentum under the impact of the US-China trade war. This investment is expected to create 100 domestic employment opportunities.
As the US-China trade conflict remains unresolved and begins to affect different aspects, the government consequently implemented three plans for investing in Taiwan to fairly take care of more companies. The plans create appealing conditions that will increase the willingness of companies to invest in Taiwan. Taiwanese companies that had invested in China or resolutely remained in Taiwan, regardless of scale or industry, are eligible to apply as long as they are willing to invest in Taiwan and cooperate with industrial upgrade. At present, the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan has attracted 154 Taiwanese companies to invest over NTD697.7 billion, creating 56,369 domestic employment opportunities. As for the Action Plan for Accelerating Investment by Domestic Corporations, 24 companies have invested over NT$54.1 billion and will create 3,813 domestic employment opportunities. The construction of new factories, establishment of smart production lines, and purchase of new equipment are all ongoing and continue to increase, working together to jointly make profits.
Spokesperson of InvesTaiwan: Acting COO He Kun-Sung
Telephone: 02-2311-2031 Ext.: 808
Mobile Phone: 0966-533-987
Email: ksho@moea.gov.tw
Source: Department of Investment Services, MOEA
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