Taiwan unveils expanded incentives to attract foreign investment

Mint

4 days ago

Taipei [Taiwan], July 4 (ANI): Deputy Minister for Taiwan's Economic Affairs Cynthia Kiang has reaffirmed the government's commitment to supporting overseas Taiwanese and foreign companies investing in Taiwan, following Cabinet approval of a new round of incentives, including loans and subsidies, the Taipei Times reported.
"Any companies [that wish to invest in Taiwan] and contribute to Taiwan's economy will receive government support," Kiang said at a press briefing in Taipei, quoted by the Taipei Times on Thursday.
She emphasised that while key sectors such as artificial intelligence, cybersecurity, and military technology remain priorities, the government also welcomes investment from the health and service industries.
The incentives form part of an expanded version of the "Invest Taiwan" initiative, which was first launched in 2017 in response to the US-China trade war to encourage Taiwanese businesses to shift operations from China back to Taiwan.
According to the Ministry of Economic Affairs (MOEA), the new measures--effective from 2025 to 2027--will extend support not only to Taiwan-based companies returning from China but also to globally operating Taiwanese firms and foreign businesses.
Senior MOEA official Chang Ming-pin announced that the incentives include up to NT$720 billion (USD 24.96 billion) in loans over the next three years. Loan service fee subsidies will also be increased to between 0.3 and 1 per cent, up from the previous 0.1 to 0.7 per cent.
The government aims to draw NT$1.2 trillion in new investment and create approximately 80,000 jobs in Taiwan under the new plan, Chang said.
Since its launch in 2017, the "Invest Taiwan" initiative has attracted 1,678 approved investments, with over 1,100 coming from small and medium-sized enterprises. Together, these companies have invested NT$2.53 trillion in Taiwan, as per MOEA data. (ANI)