Taiwanese Government Raises Incentive for Branded Businesses
September 19, 2005
Industrial Development Bureau of the Ministry of Economic Affairs in Taiwan has just revised the Measures for Assistance in the Development of New Leading Products by raising the incentive to 50% from 40%, which will take effect starting October 2005. Aimed at encouraging Taiwanese enterprises to produce own brand products and sell to overseas, the measures will support 50% of the total project budget to enterprises who propose a new leading own-branded product project targeted at international markets. The measures apply across all sectors, from high-tech industries such as semiconductor, optoelectronics, communications, IT services, networking, and digital content, to traditional industries such as steel, petroleum, metals, and textiles. 639 cases have been approved since the implementation of the measures, mostly from the consumer electronics, precision machine, and communication industries.