FILE PHOTO -General view of the city during sunset hour in Taipei, Taiwan, April 29, 2020. REUTERS/Ann Wang
TAIPEI (Reuters) – Taiwan hopes a new programme will attract T$40 billion ($1.34 billion) of research and development investment by foreign tech companies, creating more than 6,300 jobs a year, the government said on Thursday.
Taipei will spend more than T$10 billion in subsidies over the next seven years to attract the investment, Lin Chuan-neng, the island’s vice minister of economic affairs, said on Thursday.
“We will target three investment in three areas, which are 5G, artificial intelligence and semiconductors,” Lin told a news conference in Taipei.
“We hope to get them to Taiwan to do research and development,” he added. “We hope to boost related supply chains in Taiwan.”
The export-reliant island is home to tech behemoths like Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), the world’s biggest contract chipmaker