The Taiwan government signed agreements with 27 foreign firms, which pledged to invest a total of NT$108.25 billion (US$3.42 billion) in Taiwan over the next two years, the Ministry of Economic Affairs said Tuesday.

According to the deal, Hewlett-Packard Co. (HPQ) plans to invest US$114 million on research and development in Taiwan, a spokesman at the ministry said.

Qualcomm Inc. (QCOM), Corning Inc. (GLW) and Applied Materials Inc. (AMAT) are also among the firms that will invest in Taiwan, the spokesman said, without elaborating.

-By Aries Poon, Dow Jones Newswires; 886-2-25022557; aries.poon@dowjones.com
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