Deputy Economics Minister Kung Ming-hsin says the government will do its best to support Taiwan’s semiconductor industry.
Kung was speaking Wednesday at the opening of SEMICON, Taiwan’s biggest international semiconductor expo. He said that Taiwan’s semiconductor industry is vertically integrated and maintains a high level of flexibility, efficiency and product quality. This gives it a competitive advantage on the global market.
"We are planning the development of the Internet of Things industry. By 2025 we hope that Taiwan will have created a NT$10 trillion (US$332.5 billion) industry based on the NT$2.5 trillion semiconductor industry. We believe there is a very good chance for it to develop to that scale," Kung said.
Kung said Taiwan’s semiconductor industry’s total output value this year is expected to reach NT$2.54 trillion (US$84.5 billion), a projected year-on-year growth of 3.5%.
Kung said the semiconductor industry is key to Taiwan’s economic development, and the government will continue to do its best to help boost the industry’s growth.