Taiwan's parliament on Tuesday approved a tax exemption package designed to extend a five year tax break currently only afforded to hi-tech companies to all manufacturing investment.
The AFP news agency revealed that the move, which it is hoped will attract around NT$120 billion (US$3.47 billion) in investment to the manufacturing sector, will cover investments made in 2002 and 2003.
An unnamed official from the Economics Ministry told AFP that the government expects around 52,000 new jobs to be created in the industry as a result of the newly approved exemption package.
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