2022-07-22
InvesTaiwan today (22nd) approved the additional investment of over NT$4.1 billion in total by 3 companies, including YFY Inc. under the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan; Yee Fong Chemical & Industrial Co., Ltd. under the Action Plan for Accelerated Investment by Domestic Corporations; a certain metal manufacturing company under the Action Plan for Accelerated Investment by SMEs. At present, the three major programs for investing in Taiwan have attracted over NT$1.7587 trillion in investments from 1,227 companies, and are expected to create 136,579 domestic employment opportunities, in which the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan has attracted approximately NT$1.0681 trillion from 265 Taiwanese businesses and created 82,249 employment opportunities; the Action Plan for Accelerated Investment by Domestic Corporations has attracted approximately NT$317.5 billion in investments from 146 domestic corporations and created 23,251 domestic employment opportunities; the Action Plan for Accelerated Investment by SMEs has attracted approximately NT$373.1 billion in investments from 816 SMEs and created 31,079 domestic employment opportunities; applications of 13 companies are still pending review.
The major Taiwanese paper manufacturer YFY Packaging Inc., which is a subsidiary of YFY Inc., is in the business of industrial paper, paperware packaging, and renewable energy technology. YFY Packaging Inc. submitted an application for its first investment of over NT$1.4 billion under the Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan in September 2019. The company plans to make a second investment of NT$2.7 billion in a paperware factory in Xinwu, Taoyuan, and will install smart machinery and equipment in its current Taoyuan Plant, Changhua Plant, and Kaohsiung Plant to increase its production capacity. The investment is expected to increase 162 domestic employees. Upholding the group’s second generation founder Mr. S. C. Ho’s business philosophy of circular economy, all raw materials, products, and excess materials in the paper-making process can be reused. With regard to renewable energy, YFY Packaging Inc. continues to invest in biogas power generation facilities, and currently generates the highest amount of electricity from biogas in the papermaking industry in Taiwan. The total installed capacity of facilities is 5,200KW, which is able to generate up to 42 million kWh a year and supply nearly 12,000 households in Taiwan. The company also has the first zero coal combined heat and power system in Taiwan, which entirely uses SRF, supplying electricity for production. The company continues to lead the industry towards a low carbon, low energy consumption, and fossil fuel free future of renewable energy.
Yee Fong Chemical & Industrial Co., Ltd. mainly engages in the manufacturing of Chlor-alkali products, and its main products include soda lye, hydrochloric acid, bleach, liquid chlorine, hydrogen peroxide, and electronics grade chemicals. Taiwan’s electronics industry has a dominant position in the global market, and the semiconductor industry has flourished in recent years, driving an increase in demand on electronics grade chemicals. As the most stable supplier of chemicals for semiconductors, the company plans to recruit 22 domestic employees and invest over NT$1.1 billion to expand its factory and install a smart production line in Luzhu District, Taoyuan City. With regard to energy conservation and carbon reduction, the factory is planned with heat recycling equipment, which will reduce steam use by over a thousand tons each year. Solar panels will be installed in the parking lot and on the rooftop of the warehouse to generate renewable electricity for the company. The company aims to become eco-friendly while enhancing its competitiveness.
The metal manufacturing company is a manufacturer of products for LED lights, and its main products include LED traffic lights, LED street lights, indoor/outdoor LED lights, medical devices, automobile accessories, and other metal accessories. Global supply chains have shifted due to the impact of the US-China trade war and COVID-19 pandemic, and the company’s trade orders have shown steady growth. The company thus plans to invest an additional nearly NT$300 million to build a factor with smart machinery and technologies in central Taiwan, in order to improve its production performance. The investment will install numerous solar power generation modules, the factory will use equipment with low carbon emissions, and also has heat circulation, water circulation, and green building designs, in order to support the government’s policy of achieving net zero emissions by 2050. The investment will create 15 domestic employment opportunities.
Spokesperson of InvesTaiwan: Acting COO Chen Ming-Chu
Telephone: 02-2311-2031 Ext. 802
Mobile Phone: 0938-637-901
Email: nicole@invest.org.tw
Source： Department of Investment Services, MOEA
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