Ministry of Foreign Affairs Increases "Rongbang Program" Subsidy to NT$60 Million for Investment in Allied Nations

(CNA) Taipei, July 3 - The Ministry of Foreign Affairs (MOFA) announced today that to accelerate the "Rongbang Program," it has amended the "Subsidy Regulations for Encouraging Businesses to Invest in Allied Nations." Effective July 1, the regulations expand the scope of subsidies, increase airfare subsidies for visits to allied nations to NT$100,000, and significantly raise the cumulative maximum subsidy within seven years from NT$20 million to NT$60 million, providing more substantial support.

In a press release, the MOFA stated that to expedite the "Rongbang Program," deepen economic and trade cooperation between Taiwan and its allies, and encourage Taiwanese businesses to invest and establish operations in allied nations, it has amended the "Subsidy Regulations for Encouraging Businesses to Invest in Allied Nations," which took effect on July 1.

The MOFA indicated that this amendment, through measures such as expanding subsidy items, increasing subsidy amounts, and strengthening support for visits to allied nations, aims to reduce the initial costs and investment risks for businesses entering emerging markets. It encourages Taiwan's advantageous industries to work with the government to cultivate development in allied nations, assist them in enhancing industrial capacity and expanding international markets, further strengthen bilateral economic and trade cooperation, and achieve the goal of mutual benefit and shared prosperity.

The MOFA highlighted that the key points of the amendment include expanding the scope of applicable subsidy items, increasing the cumulative maximum subsidy amount, and raising subsidies for investment exploration trips to allied nations.

Regarding the expansion of applicable subsidy items, the MOFA stated that based on the actual investment needs of businesses, the scope of subsidy items has been broadened to include local employee salaries, factory equipment, rental of business premises or land, and financing interest. The previous restriction of choosing only one item to apply for has been removed, increasing the flexibility and practicality of the subsidy measures.

The MOFA pointed out that concerning the increase in the cumulative maximum subsidy amount, considering the continuous rise in prices, labor costs in allied nations, and initial capital costs for overseas investment in recent years, the cumulative maximum subsidy for businesses within seven years has been raised from the original NT$20 million to NT$60 million, offering more substantial investment support to businesses.

In terms of increasing subsidies for investment exploration trips to allied nations, the MOFA stated that in response to rising international airfare and transportation costs, the maximum airfare subsidy for businesses visiting allied nations to explore investment environments, assess market conditions, and negotiate cooperation opportunities has been increased to NT$100,000, encouraging businesses to actively evaluate investment opportunities in allied nations.

The MOFA emphasized that in the face of global supply chain restructuring and industrial layout adjustments, allied nations are not only important diplomatic partners for Taiwan but also possess high potential for industrial cooperation, market expansion, and regional deployment. Through this amendment, by significantly enhancing policy support, the ministry hopes to reduce the initial risks of overseas investment for businesses, encourage more Taiwanese businesses to invest and set up factories in allied nations, establish supply chain nodes, and expand markets. Simultaneously, it aims to assist allied nations in upgrading industrial technology, creating local employment, and promoting economic development, fostering a win-win cooperation. (Editor: Wan Shuchang) 1150703

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