Premier Cho Jung-tai (卓榮泰) outlined his vision for Taiwan at the Taiwan Venture Capital (TVCA) Summit on Tuesday. Cho says he hopes to create 20,000 new jobs within five years, attract NT$150 billion (USD$4.6 billion) in annual venture capital, and to position Taiwan as a global exporter of innovative solutions within a decade.
In his speech, Cho emphasized the importance of collaboration between government and industry leaders in maintaining Taiwan's competitive edge amid geopolitical threats, supply chain restructuring, and the rise of AI. Cho also reaffirmed the government’s commitment to supporting small and medium-sized enterprises with over NT$10 billion (USD$313 million) in next year’s budget for revitalization.
Cho says that President Lai Ching-te’s (賴清德) Economic Development Commission, which includes economic heavyweights and prominent business leaders, has already initiated various projects, including a trillion-dollar investment plan and an advanced talent program meant to position Taiwan as the asset management center of Asia.
TVCA Chair Andy T.C. Chiu (邱德成), who has spent 40 years in innovation and entrepreneurship, added that “without investment today, there will be no protective barriers for the country tomorrow.” He says that investing in startups is investing in the country's future, and supporting venture capital will fuel Taiwan's future growth.