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2019-07-11
InvesTaiwan convened its 25th joint review meeting today, and approved the investments of five Taiwanese businesses, including YFC-BonEagle Electric Co., Ltd., CFTC Precision Ltd., Wiwynn Corporation, Eclat Textile Co., Ltd., and an anonymous key materials manufacturer for panels, which exceeded NT$9.5 billion in total. The investments are expected to create nearly 900 employment opportunities in Taiwan. From welcoming Taiwanese businesses to return to Taiwan 1.0 to 2.0, 89 companies have passed the review and made investments exceeding NT$444.1 billion, creating over 40,000 employment opportunities in Taiwan.
YFC-BonEagle Electric Co., Ltd. has been a leader in the 3C power and network cable industry for over three decades. The specialized cables manufactured by the company ,which have mainly been researched and developed by its Taiwan head office, are basic components for communications, transmission, computers, and peripheral equipment and its production bases are in Wuxi and Dongguan, the U.S. is its main market, accounting for over 80% of sales. Its customers include well-known retailers in the U.S., such as Lowe’s and Costco. Even though Yeh Chun-Jung, Chairperson of YFC-BonEagle Electric Co., Ltd., is the former chairperson of the Taiwan Business Association of Dongguan, the company was still impacted by the U.S.-China trade war and had to adjust its production line in coordination with the demands of its U.S. customers. The company thus moved the production of most of its purchase orders from China back to Taiwan, and invested NT$900 million to relocate its current head office and R&D center to its new building in Taoyuan THSR station special zone. It constructed a new factory to expand its production capacity and also implemented smart processes. This investment will create 34 employment opportunities in Taiwan and increase the company’s share of the U.S. market.
CFTC Precision Ltd. is the largest fine blanking company in Greater China, and is the main supplier for Volkswagen, Getrag, Danfoss, and main electric vehicle manufacturers. The U.S.-China trade war has driven CFTC to accelerate the construction of its Taiwan base, and relocate its auto parts and hard drive components production lines back to Taiwan. The company invested over NT$1.5 billion and recruit 188 domestic specialists for new automated facilities and smart production line equipment in its Erlin Factory in the Central Taiwan Science Park. The company has achieved vertically integrated production and continues to expand new energy and electric vehicle industries with high added value, transforming crisis into an opportunity.
Wiwynn Corporation specializes in large cloud data center hardware and solutions, it receives purchase orders from three of the four main cloud service providers worldwide. The company accelerated its global manufacturing strategy after the U.S.-China trade war began, and has long made plans to relocate its production lines with consideration to customers’ long-term needs and to diversify risk. The company decided to build its first self-owned production and innovative R&D base in the Southern Taiwan Science Park due to the complete industrial cluster and R&D capabilities, and works closely with local industry, academia, and research institutes. Besides setting up a cloud server production line, it will also establish a smart R&D laboratory, global products failure analysis laboratory, and Asia-Pacific after-sale service and repair center in coordination with its R&D plans. The company will invest over NT$1.5 billion and recruit 410 specialists in Taiwan.
Eclat Textile Co., Ltd. is the global leader of functional garments and the textile industry stock leader. Even though it is a conventional industry, it has over 100 R&D personnel and boasts to be a technological textiles company. In the four decades since it was established, the company has upheld the spirit to develop proprietary and innovative products in an eco-friendly and energy efficient way. It developed high-tech stretch knitted fabrics and functional garments with high added value, and continues to invest nearly NT$1 billion (about 3-5% of its turnover) every year in the development of new products. The company has maintained long-term, close supply chain partnerships with famous sports brands worldwide with its uniquely fast R&D and innovation capabilities. Eclat Textile Co., Ltd. choose to keep its roots in Taiwan under the effect of the U.S.-China trade war, and invested NT$1.02 billion to build a new digital printing factory in Miaoli Xizhou to produce printed fabric with high added value. The company will recruit 60 technical talents. This advance digital printing technology will enhance the competitiveness of fabric dyeing and finishing, and utilizes the company’s advantage in vertical integration to elevate Taiwan’s key position in the textile value chain.
The anonymous public company that manufactures key materials for panels decided to increase its investment in Taiwan, with consideration to the fact that the trade war will not be resolved within any short period of time, and that it must take action to reduce risks. The company will construct a factory for manufacturing upstream materials of panels, battery materials production lines, optical testing system, and automated warehouse. It will also expand the production capacity of its current facilities, add automated equipment, and upgrade its sensors to continue structural transformation and develop greater added value. The company will invest several billion NTD and create several hundred employment opportunities in Taiwan, strengthening the overall panel supply chain.
Besides the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan 2.0, the SME Investment Plan and Keeping Roots in Taiwan Investment Plan were also implemented to benefit even more companies. The government continues to actively help companies seize opportunities for upgrade and transformation through a single window. Now is the time to invest in Taiwan!
Spokesperson of InvesTaiwan: Assistant Manager Tang Wei-Min
Telephone: 02-2311-2031 Ext.: 304
Source: Department of Investment Services, MOEA
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