Google & Amazon Bolster Taiwan Presence: MOEA Approves Major Investments

Tech Giants Pledge Billions to Expand Operations, Signaling Confidence in Taiwanese Market.

Taipei, March 27 – The Ministry of Economic Affairs (MOEA) has announced the approval of significant capital increases for the Taiwanese subsidiaries of Google and Amazon, solidifying their commitment to the island's thriving tech sector. This move underscores Taiwan's importance as a strategic hub for innovation and investment.

The Ministry's Department of Investment Review greenlit a substantial NT$7 billion (US$211.3 million) investment from Google Engineering UK Holdings to Google Taiwan Ltd. This injection of capital is earmarked for the advancement of hardware and electronic information software development. Specifically, the funds will fuel Google's research efforts in the design of mobile phone and wearable technology products, representing a focused investment in cutting-edge technologies.

In a parallel development, the MOEA also authorized an investment of NT$2.59 billion by Amazon subsidiary A100 Row Inc. into Amazon Web Services Taiwan. This investment will be directed towards covering personnel expenses and ensuring the ongoing maintenance of equipment at the company's Taiwan data center, reflecting Amazon's commitment to expanding its infrastructure within the region.

The review meeting also addressed significant investments made by Taiwanese companies. The MOEA approved Taiwan Semiconductor Manufacturing Co. (TSMC) to transfer US$10 billion to its subsidiary, TSMC Global, located in the British Virgin Islands. This strategic move is designed to help hedge against foreign exchange risks, with the funds earmarked for investment in bonds and certificates of deposit.

Further approvals included a US$170 million loan-based investment by CTBC Bank to its subsidiary in the Philippines and a US$300 million investment by AI server supplier Wiwynn Corp. into a U.S.-based subsidiary. Wiwynn had previously announced plans to establish its inaugural U.S. manufacturing facility in Texas, demonstrating the growing global presence of Taiwanese tech firms.

In total, the review meeting yielded a series of investment approvals: two inbound investment plans, two outbound investments to China, and four outbound investments to other countries, highlighting Taiwan's dynamic investment landscape and its pivotal role in the global economy.