Taiwan draws up plan to woo US$1.3 billion of annual tech research in semiconductors, 5G and AI
- Taiwan has created a seven-year blueprint to safeguard the island’s lead in semiconductors and other cutting-edge fields
- The cabinet plans to allocate more than NT$10 billion to entice foreign chip makers to set up R&D facilities locally
Taiwan is dangling incentives to attract more than NT$40 billion (US$1.3 billion) of annual investments in research and technology, creating a seven-year blueprint to safeguard the island’s lead in semiconductors and other cutting-edge fields.
Taiwan President Tsai Ing-wen has pledged to transform Taiwan into an R&D hub for emerging technologies. Her government is now pursuing more foreign tech investments from multinationals seeking to shift out of China over concerns about the intensifying US-China trade war and their desire to reduce dependency on the world’s second-largest economy.
The incentive program is mainly targeted at makers of memory chips, though part of it will also be used to attract global 5G and artificial intelligence technology companies.