Taiwan’s science parks look to attract local companies from overseas

Taipei, Oct. 28 (CNA) Taiwan’s three science parks have set up a special task force to help overseas Taiwanese businesses relocate their operations to Taiwan, the Ministry of Science and Technology details in a written report to be submitted to the Legislative Yuan.

The ministry is set to officially present the report on “what the government will do to help Taiwanese businesses return and invest in Taiwan and remove related obstacles” during a meeting of the Legislature’s Education and Culture Committee on Monday.

The report says that the administration of the three science parks–the Hsinchu Science Park, Southern Taiwan Science Park, and Central Taiwan Science Park–authorized by relevant government agencies to handle problems facing overseas Taiwanese businesses looking to return and invest in Taiwan, have established a center to accept applications to relocate operations back to Taiwan.

Under the ministry’s plan, such investment cases will be each assigned a project manager who will provide customized services for business planning. The special task force will conduct inter-ministerial coordination to help meet their needs.

The task force will also help eligible Taiwanese enterprises looking to operate in the parks secure land to rent within one month of an application and offer assistance in applying for government subsidies to carry out projects aimed at improving research and development and promoting industrial upgrades in the parks. This will enable companies to restart operations in the shortest possible time, according to the ministry.

Assistance will also be offered to meet returning companies’ manpower needs by building talent pools and holding job fairs.

Increasing worldwide uncertainty caused by U.S.-China trade tensions has prompted more overseas Taiwanese businesses to consider moving their manufacturing facilities back to Taiwan to take advantage of its many advantages, including outstanding executive talent, cheap water and electricity supply, according to the report.