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2020-04-23
InvesTaiwan reviewed proposals for the “Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan” and “Action Plan for Accelerated Investment by Domestic Corporations” during the meeting today (23rd), and approved investments of over NT$2.8 billion by three companies to increase production capacity in Taiwan, namely King Ray Industry Co., Ltd., Bioteque Medical Phil., Inc., and Syngen Biotech.
Taiwan’s Three Major Programs continue to support private investment growth momentum and have attracted 447 companies to invest NT$967.5 billion, which is expected to create 79,817 domestic employment opportunities. This includes approximately NT$751.8 billion invested by 181 Taiwanese businesses, which will create 61,498 employment opportunities; the Action Plan for Accelerated Investment by Domestic Corporations has approved investments of approximately NT$126.8 billion by 60 companies, which is expected to create 9,830 domestic employment opportunities. The applications of 69 companies are still pending review.
King Ray Industry Co., Ltd. has 40 years of experience and is admired in the international luxury goods industry. The company is adjusting its production base in coordination with the requirements of its European and American customers. The company will invest over NT$400 million to build a new plant in Changhua Coastal Industrial Park, and will implement smart processes to significantly improve its production capacity and product stability. King Ray incorporates traditional crafts into modern innovative design, and develops mid-end to high-end metal accessories with its proprietary surface treatment technology and vertically integrated supply chain. While the majority of its competitors are disappearing due to price competition from China, King Ray has won the hearts of 115 international luxury brands and is Taiwan’s hidden champion in fashion manufacturing. The company is the only metal products supplier in the world to pass the certification for Nike belts, and is also the exclusive supplier of retro metal accessories for Harley-Davidson. The company is expanding its production capacity in Taiwan in hopes of reducing the impact of the trade war. It will also meet the demand from orders transferred due to the COVID-19 pandemic. Hence, the company decided to invest during the pandemic and hopes its production lines could reach full capacity when the global economic recovers, allowing Taiwan’s metal accessories to become a force leading global trends.
Bioteque Medical Phil., Inc. is the leading manufacturer of high-end medical consumables in Taiwan. The company will invest NT$1.6 billion to establish a flagship plant in Yilan Science Park, which will have smart automated production lines for manufacturing high-end medical consumables and various key medical components, such as angiographic catheters, drainage catheters, and intervention catheters, achieving better quality and higher output value. Bioteque Medical Phil., Inc. have obtained certifications and marketing approval in numerous countries, including Taiwan GMP, European Union CE, and United States FDA. The company created the brand “BIOTEQ” and worked with ODM/OEM to market in over 80 countries. Many of the company’s products, such as minimally invasive surgery catheters and medicine soft bags, have extremely high market share in Taiwan and overseas. The company’s current plants and products are not enough to meet the demand of future business growth. As the COVID-19 pandemic became more severe, it has driven demand on respiratory products and medicine soft bags. Hence, the company is actively establishing a new plant, developing new products with high added value to expand the BIOTEQ brand, and forming strategic alliances with multinational corporations to develop key technologies. This investment project is expected to create 141 employment opportunities in Yilan.
The health food market in Taiwan and overseas have flourished in recent years, and have more business opportunities by the spread of the pandemic. In response to the growth in business momentum, Syngen Biotech plans to add production capacity, smart production lines and its core microbial fermentation technology , have allowed it to secure its leading market position in microbial health foods and medicines made from fermented raw materials. Besides expanding investments to enhance its competitiveness, the company continues to invest in niche raw materials and products, and has obtained key technologies through strategic cooperation with domestic and overseas companies and research institutes. It also integrated upstream, midstream, and downstream resources of affiliated enterprises in the group, and further developed differentiated products with various features for Europe, America, and the global market.
Spokesperson of InvesTaiwan: Acting COO He Kun-Sung
Telephone: 02-2311-2031 Ext.: 808
Mobile Phone: 0966-533-987
Email: ksho@moea.gov.tw
Source: Department of Investment Services, MOEA
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