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2022-12-22
InvesTaiwan today (22nd) approved the additional investment of nearly NT$9.9 billion in total by 4 companies, including a key material manufacturer for panels under the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan; Lao Xie Zhen Co., Ltd. under the Action Plan for Accelerated Investment by Domestic Corporations; Magnetic Packaging Inc. and Yibai Precision under the Action Plan for Accelerated Investment by SMEs. At present, the three major programs for investing in Taiwan have attracted over NT$1.8473 trillion in investments from 1,298 companies, and are expected to create 141,498 domestic employment opportunities, in which the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan has attracted approximately NT$1.109 trillion from 277 Taiwanese businesses and created 84,566 employment opportunities; the Action Plan for Accelerated Investment by Domestic Corporations has attracted approximately NT$342.3 billion in investments from 155 domestic corporations and created 24,154 domestic employment opportunities; the Action Plan for Accelerated Investment by SMEs has attracted approximately NT$395.9 billion in investments from 866 SMEs and created 32,778 domestic employment opportunities; applications of 19 companies are still pending review.
The key materials manufacturer is the global leader in panel display materials with extensive product applications. Due to the turmoil in the global investment environment in recent years, as well as the market trends of sustainability and green consumption, the company applied for a second project that will invest over NT$4.8 billion to build a plant in Central Taiwan with smart production equipment. For energy conservation and carbon reduction, the rooftop of the plant will have solar panels, low carbon emission equipment, and heat recycling. The investment will allow the company to face new challenges and become the leading brand in the industry. The investment is expected to create even more local employment opportunities once it is completed.
Lao Xie Zhen is a well-known manufacturer of high-end ingredients and food products in Taiwan. It offers Buddha’s Casserole, chicken essence, Ginsheng essence, and rice burger under its century old brand “Lao Xie Zhen.” The products are sold in all major retail chains in Taiwan, and also exported to the United States, Hong Kong, Singapore, Japan, and Australia. The company plans to invest nearly NT$4.8 billion to build a plant with 4 smart production lines in Luzhu, Taoyuan City under its global strategy, and to meet market demand on nutrient supplements, frozen food, Chinese New Year dishes, and rice burgers. With regard to investment plans for energy conservation and carbon reduction, besides using low carbon emission equipment, the plant will have a rainwater storage system, and plans have been made to obtain a green building mark. The investment is expected to create 110 local employment opportunities.
Magnetic Packaging Inc. mainly produces nozzle and head packaging materials, which can be used for cosmetics, perfume, fragrance, skin care products, and personal care products. It also provides vertically integrated packaging material OEM/ODM services for top tier international cosmetics brands, such as Estee Lauder, LVMH, PRADA, and KOSE. The company provides customers with high quality products and promotes carbon reduction with foreign customers. It plans to recruit 4 domestic employees and invest over NT$50 million to expand smart production lines in its plant in Dadu District, Taichung City. The new mechanical equipment has the energy efficiency mark of the European Union, and use more eco-friendly materials in its production process, which will benefit recycling and achieve plastic, waste, and carbon reduction, so that the company can take strides towards a new milestone.
Yibai Precision focuses on the development of metal heat treatment equipment and is able to provide customized solutions. Its products are exported to China and Southeast Asia. Look towards future market development, the company will utilize new technologies to develop energy efficient industrial furnaces, and thus plans to recruit 6 domestic employees and invest over NT$200 million to build a new plant with smart energy-efficient production lines in Wufeng District, Taichung. As for energy conservation and carbon reduction, solar panels will be installed on the plant’s rooftop to increase the percentage of green electricity use. The company is gradually implementing environmental protection and reducing energy consumption in its plant, processes, and finished products, in order to realize its vision of high tech machinery, energy conservation, and innovation.
Spokesperson of InvesTaiwan: Acting COO Chen Ming-Chu
Telephone: 02-2311-2031 Ext. 802
Mobile Phone: 0938-637-901
Email: nicole@invest.org.tw
Source: Department of Investment Services, MOEA
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