Master Plans to Invest 30 Million USD in Paraguay for Manufacture of Electric Buses

Minister of Industry and Commerce (MIC) Javier Giménez, together with the Deputy Minister of Industry, Lorena Méndez, hosted representatives from Master Transportation from Taiwan, as well as the country's ambassador, José Chih-Cheng Han. The latter introduced the investment project for manufacturing electric buses.

Master Transportation Chairman Wu Ting-fa, along with his team from the Taipei headquarters, participated in the meeting, demonstrating significant commitment and interest in investing in Paraguay. Aníbal Giménez, Deputy Industrial Policy Director, Ministry of Industry, also attended the meeting. He stated that the proposal presented by Master involves establishing a chassis and body factory in Paraguay, aiming to produce electric buses for the domestic market and future international exports. He indicated that the project entails an investment around 30 million US dollars and would directly create 2,000 to 2,500 job opportunities, while also benefiting numerous local suppliers.

It's worth noting that this will be the third meeting with Paraguayan parties for Master, following the reception of Paraguay President Santiago Peña after his visit to Taiwan last year and the Master team's visit to Paraguay last August. Master Representatives pointed out in these meetings that progress has been made in researching potential needs, costs, and services, emphasizing the significant economic advantages that Paraguay can gain from adopting electric buses.

Aníbal Giménez expressed a very positive outlook, indicating that collaborative work among the two parties is expected to continue, refining the details of potential investments. Furthermore, it was emphasized that Master is keeping in touch with other companies in the region, providing promising prospects for introducing this innovative technology in Paraguay and regional markets. Terence Shen, Vice General Manager of Master Transportation, suggested that they realized the potential for Paraguay in electric transportation, whether for local use or for exports within the Southern Common Market.