Nine more small and medium-sized enterprises have pledged to invest NT$3.8 billion (US$131.13 million) as a part of the government’s Invest in Taiwan initiative, the Ministry of Economic Affairs said in a statement yesterday.
So far this year, the ministry has approved NT$1.13 trillion in investment as part of the initiative, creating 94,000 jobs, while 42 projects are still pending approval, it said.
Taiwan Harlin Enterprise Co (哈林企業), which produces plastic products such as pallets, baskets and furniture, pledged to invest NT$600 million on smart manufacturing equipment for its Chiayi County factory. The firm’s pallets solve the problem of mold that befalls wooden pallets and are environmentally friendly and reusable, the ministry said. In addition to local clients in the food, chemical and electronic sectors, the pallets are also exported to firms throughout Asia and the Americas, it added.
Yeou Bin Foods (友賓食物), a producer of pineapple cakes and other traditional sweets, pledged to invest NT$500 million to build a new factory with automated production equipment to improve food safety and quality, the statement said.
Shin Agri Tech Co (新農科技), a producer of chicken, duck, goose and pig feed, plans to invest NT$600 to build a third livestock feed factory with a smart production system to prevent order errors and improve after-sales service.
Qi Mao Industrial Co (棨懋實業), a maker of sports and industrial goggles, is to invest NT$400 million to build a new factory with smart manufacturing and Internet of Things equipment, as well as research and development capabilities.
Other small and medium-sized businesses approved yesterday include companies that produce food and packaging products, engine and laser components, and anti-forgery stickers, the ministry said.
Ho Kun-sung (何坤松), chief operating officer and spokesman for the InvesTaiwan Service Center, said that for companies to be considered for the initiative, they must invest in high-value manufacturing, create quality jobs and must not cause harm to the environment.
The initiative provides subsidies and other assistance to selected companies, such as employment and real-estate services.
Luxury hotel Mandarin Oriental Taipei (文華東方酒店) plans to reopen its guestrooms in December to take advantage of a boom in domestic travel. The reopening would come six months after the five-star facility suspended room operations to cut costs as countries across the region impose border controls to contain the COVID-19 pandemic, diminishing demand for business travel. “We are delighted to share that Mandarin Oriental Taipei will resume room operations on December 1,” the hotel said in a statement yesterday. The hotel in Songshan District (松山) said it would adopt stringent health and safety practices to ensure the well-being of its guests and employees. It
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months
LEANNESS-ENHANCING DRUG: Assigning a commodity classification to meat containing ractopamine could come under scrutiny by the WTO, the economic affairs minister said Minister of Economic Affairs Wang Mei-hua (王美花) yesterday rejected opposition lawmakers’ calls to assign a product code for US pork and beef containing ractopamine. Facing a barrage of questions from lawmakers at a meeting of the legislature’s Economics Committee, Wang said that giving meat containing residues of ractopamine a commodity classification code would sow confusion and could come under scrutiny by the WTO. “Ractopamine is not a [meat] product, it is an additive,” said Wang, when questioned by Taiwan People’s Party (TPP) Legislator Chiu Chen-yuan (邱臣遠). “If we had a serial code for every additive it would cause confusion. There is