Premier Su vows to position Taiwan at heart of global tech industry supply chains
TAIPEI, (TAIWAN TODAY).- Premier Su Tseng-chang said July 2 that the government will continue prioritizing 5G and artificial intelligence technologies while strengthening the semiconductor industry’s material and equipment networks to place the country at heart of global supply chains for the tech sector.
Taiwan businesses are relocating operations of high-end products to the country from overseas amid worldwide economic restructuring stemming from the COVID-19 pandemic and trade friction between the U.S. and China, Su said, adding that the government is seizing the opportunity to fast-track the country’s economic transformation and industrial innovation.
Su made the remarks at a Cabinet meeting in Taipei City following a Ministry of Economic Affairs briefing on efforts to transform Taiwan into Asia’s high-tech manufacturing center and the world’s advanced semiconductor manufacturing hub.
The MOEA plans to accomplish these goals by cooperating with locally-based industrial associations to enhance industrial intelligence, expedite digital transformation and spur the development of innovative applications and solutions among homegrown businesses.
According to the MOEA, the production value of Taiwan’s semiconductor industry totaled NT$2.7 trillion (US$91.67 billion) in 2019, the second highest in the world. This provides a solid foundation for the government to strengthen the country’s international position in the industry, the ministry said.
No stone will be left unturned in encouraging overseas semiconductor manufacturers to invest in Taiwan, the MOEA said, adding that it will also expand collaboration between domestic and foreign firms. The ministry expects such moves to help localize manufacturing of relevant equipment and material while realizing the country’s goal of reaching NT$5 trillion in annual semiconductor production value by 2030. (YCH-E)