Taipei: The Ministry of Economic Affairs (MOEA) announced its approval of capital increase plans for the Taiwanese subsidiaries of American tech giants Google and Amazon.
According to Focus Taiwan, the MOEA’s Department of Investment Review has sanctioned a NT$7 billion (US$211.3 million) investment by Google Engineering UK Holdings into Google Taiwan Ltd. This funding is earmarked for developing hardware and electronic information software, with a specific focus on mobile phone and wearable technology product design.
Furthermore, the department has greenlit a NT$2.59 billion investment by Amazon subsidiary A100 Row Inc. into Amazon Web Services Taiwan. This investment is intended to cover personnel costs and equipment maintenance at Amazon’s Taiwan data center.
In addition to these approvals, the MOEA has permitted Taiwan Semiconductor Manufacturing Co. (TSMC) to transfer US$10 billion to its subsidiary, TSMC Global, located in the British Virgin Islands. The purpose of this transfer is to hedge against foreign exchange risks by investing in bonds and certificates of deposit.
Other notable approvals include a US$170 million loan-based investment by CTBC Bank to its Philippine subsidiary and a US$300 million investment by AI server supplier Wiwynn Corp. into a U.S.-based subsidiary. Last month, Wiwynn disclosed plans to invest in its first U.S. manufacturing facility in Texas.
Overall, the review meeting approved two inbound investment plans, two outbound investments to China, and four outbound investments to other countries, as stated in the MOEA statement.