Bicycle component manufacturer Glory Wheel Ent. and bicycle production machinery manufacturer Shuz Tung are two examples out of the bicycle industry of the total of 151 companies from a wide variety of sectors that applied for support at the Taiwan government to return their production from China.
Taiwan’s Ministry of Economic Affairs recently announced that it expects a total of NTD 200 billion (5.9 billion euro) of approved investments by Taiwanese companies moving their production back to their home country before the end of this year.
The Ministry of Economic Affairs considers new investments as having materialized if the company has bought new land and equipment or has started construction of new factories. According to a report in the Taipei Times, about 55,000 new jobs will be created with this investment scheme.
Resource: Bike Europe
Lillian Lee (firstname.lastname@example.org)