Taiwan to set up science parks in Japan, Mexico, and US

Last Updated on May 17, 2024 3:30 pm

By Keoni Everington

TAIPEI (Taiwan News) — The new governement plans to build science parks in countries where Taiwanese businesses operate such as Japan, Mexico, and the U.S.

The Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) on Wednesday (May 15) invited Economic Minister-designate J.W. Kuo (郭智輝) to discuss the information and communication technology (ICT) industry, reported CNA. TEEMA Chair Richard Lee (李詩欽) hoped the new Cabinet sworn in Monday (May 20) will provide more support for the global expansion of Taiwan’s businesses.

Kuo replied the new administration intends to establish science parks in key regions where Taiwanese businesses are expanding. The strategy includes encouraging large companies to lead smaller ones in setting up supply chains in overseas operations.

Lee said that in 2022, the global output value of Taiwan’s ICT industry reached NT$24.8 trillion (US$770 billion) with approximately 27.4% manufactured in Taiwan, about 60% in China, and the remaining 12% elsewhere.

According to forecasts for the next five years, the production value of Taiwan’s ICT industry is expected to exceed US$1 trillion by 2027. It is projected that 25% of this will be manufactured in Taiwan, 40% in China, and 35% in other countries, with Japan, India, and Mexico being the three fastest-growing countries.

Kuo said the new administration would provide services to directly handle foreign affairs, reduce barriers for small and medium-sized enterprises (SMEs) to expand abroad, and accelerate the global expansion of Taiwanese companies.

Regarding TEEMA’s four core development areas—sustainability, energy, technology, and international and cross-strait relations—Kuo said the new government would also review Taiwan’s overall power supply.

Kuo said that upon taking office, he will uphold the principles of action and innovation characterized by an “AI Cabinet.”

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