Taiwan Announces $1.3 Billion Foreign Tech Investment Plan

Taiwan announced an annual investment of NT$40 billion ($1.3 billion) in research and technology for the next seven years. The island hopes that this will attract foreign tech companies and create more than 6,300 jobs a year.

With this new plan, Taiwan intends to allocate around NT$10 billion to attract foreign chipmakers to set up R&D facilities locally and aims to subsidize almost half of all research and development costs towards global chipmakers that choose the island and build their centers there.

The national plan envisioned by Taiwan President Tsai Ing-wen especially targets memory chipmakers, 5G equipment manufacturers and related tech firms, and artificial intelligence technology companies. President Tsai Ing-wen envisioned Taiwan as an R&D hub for emerging technologies, and the government is now pursuing more foreign tech investments from multinationals seeking to move out of China.

“We will target three investments in three areas, which are 5G, artificial intelligence, and semiconductors.” “We hope to get them to Taiwan to do research and development,” he added. “We hope to boost related supply chains in Taiwan.”

Taiwan President – Tsai Ing-wen

With the aid of the investment plan, in its attempt to “seize the opportunity” amid a global restructuring of the technology supply chain following U.S.-China trade tensions, Taiwan stands to gain some ground in this sector if this new investment scheme works out for them.