New government plans to set up overseas science parks

Taipei, May 16 (CNA) Taiwan's new administration is planning to set up science parks in regions where Taiwanese businesses have made major investments, such as Japan, the United States, and Mexico, a local industry group cited Economic Minister-designate J.W. Kuo (郭智輝) as saying in a meeting with its members on Wednesday.

In a press statement released on Thursday, the Taiwan Electrical and Electronic Manufacturers' Association (TEEMA) said Kuo visited the group on Wednesday for an exchange of information and views on Taiwan's ICT (information and communication technology) industry.

The association in the press release cited Kuo as saying that the new administration has plans to set up science parks in places like Japan, the United States, and Mexico, where Taiwanese enterprises have made major investments.

The goal is to bring overseas commercial opportunities to smaller Taiwanese companies in the supply chain.

The incoming minister said the major Taiwanese companies could leadthe smaller ones in setting up their overseas plants and offices, withthe Taiwanese government offering the service concerning foreign dealings to lower the barrier for the medium and small enterprises to go abroad, according to TEEMA.

Kuo made the comment in response to TEEMA Chairman Richard Lee's (李詩欽) remarks on the fact that Taiwan's ICT industry is growing fast and expanding its manufacturing to other countries.

In 2022, Taiwan's ICT industry grew to US$770 billion in terms of its global output value. Of that total, products manufactured in Taiwan accounted for 27.4 percent, whereas manufacturing in China accounted for around 60 percent, and others 12 percent, Lee said in the news release.

The forecast is that in 2027, the total output value would exceed US$1trillion, and those manufactured in Taiwan would take up a quarter, China 40 percent, and other places 35 percent, with Japan, India, and Mexico being the countries seeing the fastest growth of Taiwan's investments, Lee added.

The incoming minister also told the association that he would examine Taiwan's overall power supply, and ensure power sufficiency for its industries and the public, according to TEEMA.