Qualcomm Inc and Microsoft Corp are evaluating the feasibility of investing in the government-led “Asia Silicon Valley Development Plan,” which would help deepen collaboration between Taiwanese start-ups and international tech companies, the Ministry of Economic Affairs said yesterday.
“Qualcomm and Microsoft both expressed their willingness to participate in the program,” Minister of Economic Affairs Lee Chih-kung (李世光) told reporters before a conference on the plan in Taoyuan.
Qualcomm is interested in cooperating with the Industrial Technology Research Institute (工研院) to develop new technologies, and Microsoft might establish a research and development (R&D) unit in Taiwan, Lee said
The ministry is also approaching other international tech companies to invest in Taiwanese start-ups or set up R&D centers, Lee said.
The government plans to form three software and hardware system integration companies, targeting the Internet-of-Things (IoT), big data and driverless car technology, Lee said, adding that the government would also financially support the establishment of at least 100 start-ups.
“Taiwan cannot miss the opportunity of tapping the rising IoT industry, which could provide more than US$6 trillion worth of business opportunities by 2025,” Asia Silicon Valley Development chief executive officer David Weng (翁嘉盛) said, citing McKinsey & Company research.
The Asia Silicon Valley Development Plan aims to match Taiwanese companies with international companies, to encourage collaborations on new technologies for IoT applications and to expand the presence of Taiwanese firms in the IoT industry, Wang said.
The government in September last year launched the project, which is aimed at turning Taiwan into a tech hub in the Asia Pacific region.
The executive center of the program is in Taoyuan.
Luxury hotel Mandarin Oriental Taipei (文華東方酒店) plans to reopen its guestrooms in December to take advantage of a boom in domestic travel. The reopening would come six months after the five-star facility suspended room operations to cut costs as countries across the region impose border controls to contain the COVID-19 pandemic, diminishing demand for business travel. “We are delighted to share that Mandarin Oriental Taipei will resume room operations on December 1,” the hotel said in a statement yesterday. The hotel in Songshan District (松山) said it would adopt stringent health and safety practices to ensure the well-being of its guests and employees. It
HSBC Bank (Taiwan) Ltd (匯豐台灣商銀) has approved two sustainability-linked loans totaling NT$450 million (US$15.55 million) for Taya Group (大亞集團) and Sinbon Electronics Co (信邦電子), the bank said yesterday, adding that interest rates would fall if the borrowers’ sustainability performance improves. Those marked the first sustainability-linked loans granted by HSBC Taiwan, it said. While HSBC Taiwan has experience providing green loans for the nation’s developers of renewable energy sources to support their projects, the bank began focusing on sustainability-linked loans to meet rising demand from companies in other sectors planning to undertake sustainability programs, it said. “As we reward our clients who reach their
‘NEW TRAVEL MARKET’: The carrier initially planned to lay off about 8,000 people globally, but after government intervention reduced that to 18 percent of its workforce Cathay Pacific Airways Ltd (國泰航空) would cut 6,000 jobs and close its Cathay Dragon brand, the South China Morning Post reported, as part of a strategic review to combat the unprecedented damage caused by the COVID-19 pandemic. The Hong Kong-based airline is expected to officially announce the plan after the market close today, the newspaper said. It initially planned about 8,000 layoffs globally, but after government intervention reduced that to 18 percent of its total workforce, including about 5,000 jobs in Hong Kong, it said. The company, which posted a HK$9.9 billion (US$1.3 billion) loss in the first half, has for months
LEANNESS-ENHANCING DRUG: Assigning a commodity classification to meat containing ractopamine could come under scrutiny by the WTO, the economic affairs minister said Minister of Economic Affairs Wang Mei-hua (王美花) yesterday rejected opposition lawmakers’ calls to assign a product code for US pork and beef containing ractopamine. Facing a barrage of questions from lawmakers at a meeting of the legislature’s Economics Committee, Wang said that giving meat containing residues of ractopamine a commodity classification code would sow confusion and could come under scrutiny by the WTO. “Ractopamine is not a [meat] product, it is an additive,” said Wang, when questioned by Taiwan People’s Party (TPP) Legislator Chiu Chen-yuan (邱臣遠). “If we had a serial code for every additive it would cause confusion. There is