The government is in talks with several multinational high-tech firms to establish Internet of Things (IoT) development centers, the Chinese-language Commercial Times newspaper said yesterday.
The Asia Silicon Valley Development Agency has started negotiations with up to six US high-tech firms, including semiconductor giant Intel Corp, networking services provider Cisco System Inc and information technology services firm Hewlett Packard Enterprise on working with Taiwan to develop IoT, the newspaper said.
The agency seeks to transform Taiwan into an “Asian Silicon Valley” under the supervision of the government, part of the industrial policies launched by President Tsai Ing-wen’s (蔡英文) administration to upgrade Taiwan’s industry and spur economic growth.
Agency chief executive officer Kung Ming-hsin (龔明鑫) said talks with the US tech giants could lead to the signing of a memorandum of understanding (MOU) as soon as June, enabling them to establish an IoT foothold in Taiwan.
The government has budgeted NT$11.3 billion (US$373 million) for the plan this year, after establishing the agency at the end of last year, the report said.
The agency is seeking private sector partners at home and abroad with Kung and chief investment officer David Weng’s (翁嘉盛) guidance.
US-based software developer Microsoft Corp and smartphone chip designer Qualcomm Inc have already signed MOUs with the Ministry of Economic Affairs.
Cooperation with multinational high-tech firms is expected to help the local industrial sector integrate resources dedicated to IoT development, Kung said, adding that the participation of foreign firms provides a channel to market Taiwan’s innovation globally.
As of the end of last month, a total of 140 local enterprises had established an IoT alliance, which is expected to pave the way for international cooperation, the report said.
As part of the plan, Taiwan aims to have 5 percent of the global IoT market by 2025, the agency said on its Web site.
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