Taiwan eyes lead in global ICT, semiconductor markets

TAIPEI (TVBS News) — Economic Minister Wang Mei-hua announced on Wednesday (Dec. 6) that Taiwan is set to capitalize on its information and communication technology (ICT) and semiconductor industries to gain a competitive edge in international markets.

Speaking at an opening ceremony in Taipei, the head of the Ministry of Economic Affairs (MOEA) witnessed the signing of a memorandum of understanding(MOU) between the Taiwan Association of Information and Communication Standards (TAICS) and the 5G Alliance for Connected Industries and Automation (5G-ACIA), heralding a new era of cooperation and exchange.

With 5G applications rapidly expanding worldwide, Wang forecasts the global smart manufacturing market to burgeon to US＄140 billion by 2030. She contends that Taiwan is an ideal proving ground for the integration of 5G into smart factories, an area in which the island already possesses substantial experience and infrastructure.

Wang conveyed her hopes that Taiwan can contribute its knowledge and experience with 5G smart factories to international organizations, aligning the island's 5G application standards with global benchmarks.

To strengthen the bond between domestic manufacturers and the international marketplace, the MOEA is further supporting the Industrial Technology Research Institute (ITRI) in innovating new technologies and partnering with Taiwanese companies to gain a voice within the global 5G community through 5G-ACIA.