Textile firms incentivised to move to Taiwan - sportstextiles: Lea SportsTextiles

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Textile firms incentivised to move to Taiwan

23/11/2012
The government of Taiwan has launched an investment drive to encourage more foreign investment in the country with policies favouring labour-intensive low-level manufacturing, which could prove a major boost to the country’s textile industry.

It has begun to cut tariffs on imports of equipment and machinery, offering bridging loans to investors and simplifying administrative procedures, according to a report by the UK-based Economist Intelligence Unit.

The government is planning to improve infrastructure, including upgrading the airport, and is mulling relaxing immigration laws – which could lead to a flood of cheap labour from other South East Asian countries.

It said one of the main aims is to attract Taiwanese firms that have their production bases in China to move their facilities back, as labour costs there rise.

Taiwan's Ministry of Economic Affairs said the total investment stock of Taiwan-headquartered companies returning from mainland China has grown from less than $170 million in 2006 to over $1.5 billion in 2011.

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