At Thursday’s weekly Cabinet meeting, Premier Chen Chien-jen received a briefing from the National Science and Technology Council on the Taiwan Chip-based Industrial Innovation Program. The premier said that the program aims to create new prospects for Taiwan’s tech industry and will lay the foundations for the nation’s technological strength over the next 10 to 20 years.

Taiwan’s strengths in the field of semiconductors are universally recognized around the world, the premier said. To meet the opportunities and challenges posed by future technological transformations and capitalize on Taiwan’s leading position, the government is taking preemptive action today to lay the groundwork for the tech industry of tomorrow. To this end, the government plans to allocate NT$12 billion (US$369.4 million) to the science and technology budget in 2024, and a total of NT$300 billion (US$9.2 billion) for the program’s implementation over the next 10 years (2024 to 2033).

Premier Chen said the program will focus on four main strategies: combining generative artificial intelligence with integrated circuit technology to advance breakthrough industrial innovation; improving the environment for domestic talent cultivation and welcoming international R&D personnel; accelerating development of the heterogeneous integration processes and advanced technology necessary for industrial innovation; and utilizing Taiwan’s strengths as “Silicon Island” to attract international startups and investment. The premier said the present moment is a golden opportunity for international collaboration. Taiwan should take advantage of its dominance in the semiconductor industry ecosystem to pave the way for the nation’s future science and technology industries and fortify its industrial capacity for breakthrough innovation.