Taipei--Minister of Economic Affairs Lee Chih-kung (???) said Tuesday that U.S.-based smartphone chip designer Qualcomm Inc. and software giant Microsoft Corp. have expressed interest in investing in Taiwan under the country's plan to create a Silicon Valley in Asia.
Lee said his ministry has been in talks with the two multinational high-tech firms on the possibility of them setting up three world-class system integration companies and 100 research facilities in Taiwan.
The establishment of the 100 facilities would allow other multinationals to carry out research and development in Taiwan, Lee told reporters on the sidelines of a forum in Taoyuan on the government's Asia Silicon Valley initiative.
He said the three system integration companies could be formed by integrating the resources of existing companies in Taiwan, which would help them expand beyond semiconductors to fields such as the Internet of Things (IoT), big data and self-driving vehicle technology.
As Taiwan seeks to upgrade its industries, it is critical that local manufacturers learn how to operate in line with international standards, Lee said.
He said the Silicon Valley development plan will help Taiwan to consolidate its resources in the electronics and machinery sectors through international cooperation with foreign high-tech giants, thus paving the way for greater strength in the IoT era.
The Ministry of Economic Affairs (MOEA) has been establishing new technology incubation centers in Taiwan to create key components for IoT development, Lee said.
The ministry has also been pushing for law revisions that would make Taiwan more attractive to foreign professionals and bring foreign funds into the country under the Silicon Valley development plan, he said.
Last year, the administration of President Tsai Ing-wen (???) established the Asia Silicon Valley Development Agency (ASVDA) to facilitate its plan to spur economic growth by expanding the base of Taiwan's industrial sector beyond information technology into the IoT.
The government has allocated NT$11.3 billion (US$374 million) to implement the Asia Silicon Valley plan.
Source: Focus Taiwan News Channel