A 4G advert at a telecom store in Taipei, Jan. 15. (Photo/Wang Ying-hao)
Taiwan has set a goal of attracting NT$120 billion (US$3.4 billion) in investments in the smartphone and emerging telecommunication industry this year, which, if realized, will mark a 17.5% year-on-year increase, the Ministry of Economic Affairs said Friday.
The ministry attributed the expected boost in investments in the sector to increasing investments by chipmakers and the launch of more 4th-generation (4G) infrastructure construction projects, the ministry said.
According to statistics from the Industrial Development Bureau, investments in the industry in 2013 totaled NT$102 billion (US$3.37 billion), due mainly to a response to 4G issues, an increase in research and development by chipmakers, expanding capacity of spare parts and components, and terminal companies' investments in developing new products.
The bureau said that it set the target at a time when chipmakers are expanding investments in research and development and the internet-based communications industry is considering deploying all of its 4G base stations through new construction projects.
Owing to strong demand for smart automation from domestic companies and Taiwanese businesses in China, the MOEA statistics show that NT$20 billion (US$661.1 million) was invested in the sector last year, and that investments are expected to grow to NT$24 billion (US$793.4 million) in 2015 and NT$40 billion (US$1.32 billion) in 2020.
The MOEA's Department of Industrial Technology said that it hopes to promote a plan to have three smart automation equipment, product and service companies enter the top five enterprises in the Asia Pacific by 2015, while having the top three companies enter the world's top five by 2020.
Economics officials said that they hope to raise the penetration of smart automation solutions to 40% in 2015 from the current 30% and to 60% by 2020.