Taiwanese businesses are increasingly returning to Taiwan to invest in the country. Over the past three years, investment from returning businesses has increased by an average of 8.1% per year. That’s according to new figures released by the economics ministry on Monday.
In 2019 the government began three large programs to entice Taiwanese businesses in China to return and invest in Taiwan. Due to its success in increasing returning investment, officials say the schemes will be extended until 2024.
The figures show that returning investment has grown faster than investment in industry overall. The economics industry says wages in businesses benefiting from the investment schemes have increased wages by an average of 4.2% per year.
The ministry says investment has made Taiwan’s industry chain more complete. It adds the policies and new focus on Taiwan’s semiconductors industry has led to a 42% increase in investment over the last three years.