Just one small step away! Three major investment plans in Taiwan will break the 3 trillion yuan mark

The three major investment plans (three major plans) in Taiwan have so far approved investments of 2.9982 trillion yuan, which is only 1.8 billion yuan away from the 3 trillion yuan milestone, which is a step away. (File photo)

[Reporter Liao Jianing/Taipei Report] The three major investment plans (three major plans) in Taiwan have so far received 2.9982 billion yuan of investment, which is only 1.8 billion yuan away from the 3 trillion yuan milestone, which is one step away. In accordance with the trend of Taiwanese factories and foreign businessmen increasing investment in Taiwan in recent years, it is expected that the three major plans will exceed the 3 trillion yuan mark.

In response to the need for Taiwanese companies to relocate their production bases due to the U.S.-China trade war, the Ministry of Economic Affairs has assisted Taiwanese companies in China to accelerate their return. In July 2019, it launched three major plans for investing in Taiwan, providing financing discounts, land rental discounts, water and electricity construction, exclusive tax services, pre-approved introduction of migrant workers and other preferential measures. In addition, for large enterprises and small and medium-sized enterprises that have not invested in China, it provides a stay-in-Taiwan and an acceleration plan for small and medium-sized enterprises respectively, enjoys preferential financing measures, and guides the industry to upgrade towards smart and low-carbon upgrades. In August last year, the Executive Yuan approved version 2.0 of the three major plans to expand their application to foreign investors in Taiwan.

The three major investment plans in Taiwan were launched in 2019 and exceeded the 1 trillion yuan mark in May 2020 and the 2 trillion yuan mark in February 2023. So far, the three major plans have attracted 1,840 companies and approximately 2,998.2 billion yuan in investment, and are expected to create 174,628 domestic jobs.

Among them, the "Action Plan to Welcome Taiwanese Businessmen to Return to Taiwan to Invest" has 372 companies investing approximately NT$1,697.5 billion, creating 100,962 job opportunities; the "Action Plan to Accelerate Investment for Remaining Taiwan Enterprises" has 240 companies investing approximately NT$669.2 billion, creating 30,835 jobs; and the "Action Plan to Accelerate Investment for Small and Medium-Sized Enterprises" has attracted 1,228 companies to invest approximately NT$631.5 billion, creating 42,831 new job opportunities. There are still 9 manufacturers waiting in line for review.