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Textile expatriates from China to invest in homeland
12
Sep '11
Taiwanese expatriate businessmen from China are expressing interest to invest in their homeland.

At the 2011 'Taiwan Businessman Invest in Taiwan' summit, eight Taiwanese companies from China signed a letter of intent for investment of NT$ 31.85 billion with the Ministry of Economic Affairs (MOEA).

Among the eight companies that have signed letter of intent is the Fulgent Sun Group, Original Equipment Manufacturer (OEM) for leading sports brands like Li Ning and Nike. Fulgent Sun will be setting up its headquarters as well as warehouse centre in the Technology-based Industrial Park in Yunlin County.

Several entrepreneurs who have invested in Chinese textile industry are returning to Taiwan owing to shortage of labour, hike in wages, and withdrawal of tax breaks by the Chinese Government.

In fact, the Chinese Government had begun imposing property and land taxes on Taiwanese businesses since 2008, besides withdrawing supportive business conditions.

In May 2011, a Taiwanese textile company was asked by China's State Council to increase the salaries of all its employees by 28 percent. In recent years, the wages of workers have gone up by 25 to 28 percent annually.

Several Taiwanese-owned textile units in Dongguan have shutdown, as they failed to supply on time. After accepting bulk orders, these Taiwanese businesses procured adequate raw materials needed, but were unable to manufacture due to shortage of workers in the coastal regions of China.

Shih Yen-shiang, MOEA Minister said it is important that expatriates invest in the country's economic development. He was optimistic that his Ministry will be able to achieve the target of NT$ 45 billion in investments from expatriates in 2011.

He said that Taiwanese entrepreneurs from overseas have already invested NT$ 39.3 billion during the first eight months of the current year.

Fibre2fashion News Desk - India


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