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Taiwan eyes NT$40b in foreign tech investment under new scheme

[TAIPEI] Taiwan hopes a new programme will attract NT$40 billion (S$1.2 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 NT$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," Mr 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, the world's biggest contract chipmaker and supplier to US tech giants such as Apple Inc.

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Mr Lin said the government wants to turn Taiwan into a "global hub for high technology" under the programme, in a bid to "seize the opportunity" amid a global reshuffle of the technology supply chain following US-China trade tensions.

Taiwan's government is in talks with international companies for future investments, Mr Lin added, declining to give details.

REUTERS

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