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The government’s Invest in Taiwan initiative would be extended due to demand from Taiwanese businesses and an anticipated wave of reshoring amid an increasing threat of political pressure facing Taiwanese firms in China, Minister of Economic Affairs Wang Mei-hua (王美花) confirmed yesterday. “There are still many projects awaiting approval in the pipeline and we are getting feedback from the business community that they would like the project to be extended,” Wang said. The initiative offers businesses returning to Taiwan or seeking to upgrade their manufacturing facilities favorable...

Industrial production in Taiwan last month increased 11.25 percent year-on-year — the 21st consecutive month of annual growth — but decreased 2.36 percent month-on-month, the Ministry of Economic Affairs said yesterday. The ministry uses industrial production to gauge output in the nation’s five main industries: manufacturing, mining and quarrying, electricity and gas supply, water supply and architecture engineering. Manufacturing, which contributes 90 percent of overall industrial production, increased 17.28 percent year-on-year last month, rising for the 21st consecutive month, the mi...

Ministry touts the success of vouchers By Angelica Oung / Staff reporter The government’s Triple Stimulus Vouchers helped boost Taiwan’s retail sector last year amid the COVID-19 pandemic, the Ministry of Economic Affairs said yesterday as it unveiled the final tally for the program. The ministry’s statistics showed that 23.32 million people in Taiwan, or 99 percent of the population, participated in the program, claiming either paper or digital vouchers. The ministry said that 99.6 percent of the vouchers, or NT$64.28 billion (US$2.25 billion), were redeemed by vendors. Premier Su Ts...