Investment from Taiwanese businesses bringing their operations back from China is set to hit NT$225 billion (US$7.4 billion) by the end of the year. That’s according to Economics Minister Shen Jong-chin.
Shen said Wednesday that the ongoing US-China trade war has prompted many Taiwanese businesspeople in China to start investing back home.
Shen said that this year, 29 Taiwanese businesses have together invested around NT$60 billion (US$1.97 billion) in Taiwan. He said these businesses are also in the process of building over 130 factories here. These factories will bring in an additional NT$166 billion in funds.