Taiwan plans to establish a sovereign wealth fund and investment platform, aiming to harness its industrial capabilities to expand globally and target key artificial intelligence (AI) markets.
President Lai Ching-te announced on Tuesday.
Lai highlighted the recent growth of U.S. firms such as Entegris, Micron, Google, AMD and Nvidia in Taiwan, underscoring their impact on technology and economic growth.
Just the previous day, Nvidia’s chief executive Jensen Huang announced in Taipei that the city has been chosen as the location for the company’s new overseas headquarters, Nvidia Constellation.
“We will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the U.S,” Lai said during a speech at the presidential palace to mark the first anniversary of his inauguration.
Lai also expressed his hopes for Taiwan to lead in the global economy and AI at Computex Taipei, an international tech trade fair, which was launched on Tuesday with 50,000 overseas participants.
He highlighted collaborations with democratic allies like the United States to strengthen the semiconductor supply chain and combat low-cost dumping linked to China’s state-supported industries.
In 2024, Taiwan’s semiconductor and tech sectors, crucial for AI, hit over US$100 billion in exports, a 59 per cent increase, with over 90 cent of advanced wafer manufacturing worldwide based in Taiwan. (dpa/NAN)
