By: Chen Cheng-wei and Frances Huang
Taipei, July 3 (CNA) Taiwan is planning to set up a national investment company by the end of August
to speed up the pace of technology innovation in the country, National Development Council (NDC) deputy chief Kung Ming-hsin (龔明鑫) said Monday.
In its initial phase, the national investment firm, called Taishan Investment and Management Co. Ltd. (台杉投資管理股份有限公司), will have paid-in capital of NT$250 million (US$8.22 million), Kung said.
Over the longer term, the investment entity is hoping to raise NT$10 billion in funds for future investments.
Kung said the Internet of Things will likely be the first sector targeted by the company, and then it will look to a wide range of other high-tech opportunities, including in the semiconductor, green energy, smart machinery, and national defense sectors. [FULL STORY]