Taipei, Jan. 4 (CNA) President Tsai Ing-wen (蔡英文) said Wednesday that her government's plan to create an "Asian Silicon Valley" in Taiwan does not mean copying Silicon Valley in the United States but rather is aimed at fostering greater cooperation between industries in the two countries.

The plan is to promote the Internet of Things (IoT) and innovative industries, boost Taiwan's economic development by integrating the relevant local and international sectors, and push for industrial transformation in Taiwan, Tsai said.

"The goal is to bring together local industries and open Taiwan to the world for a brighter, more sustainable future," Tsai said in a meeting at which deputy head of the National Development Council (NDC) Kung Ming-hsin (龔明鑫) presented a report on the plan.

On December 25, an executive center for the Asian Silicon Valley Plan was established in Taoyuan to implement the seven-year project, which was drafted by the Cabinet-level NDC.

A budget of NT$11.3 billion (US$357.9 million) has been allocated for 2017 for Internet infrastructure, mobile broadband services, e-commerce, smart applications, test beds, industry-university collaboration, digital talent and regulatory adjustment, according to the NDC.

Tsai said the government is aiming to create a robust startup and entrepreneurship ecosystem by cultivating innovative talent, providing capital for business expansion, and revising the relevant laws.

She urged all parties involved to work together toward the common goal, which is to help Taiwan transform from information technology-based industry to IoT.

(By Lu Hsin-huei and Ko Lin)
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