MOEA to Spend NT$12 B. to Support ICT-Technology R&D

Taipei, Feb. 16, 2006 (CENS)--The Ministry of Economic Affairs (MOEA) will spend NT$12 billion (US$375 million at US$1: NT$32) to subsidize the development of new technologies in Taiwan's information and communication technology (ICT) industry over next four years, according to Economics Minister Morgan Hwang.

Hwang made the statement at a recent meeting with several ICT tycoons. The economics minister also stressed that Taiwan would never be absent from the booming automotive electronics sector, the production value of which is expected to account for about 50% of the global auto-parts market in 2015.

Hwang also promised to those ICT tycoons that MOEA would appropriate NT$500 million (US$15.63 million) to help develop new techniques in the automotive sub-fields at set up a new automotive electronics industry office under his ministry.

To cash in on the rapidly rising automotive electronics, Hwang said that MOEA would give full support to auto electronics development in Taiwan through different funding programs in both manufacturing and academic sectors.

Rock Hsu, chairman of the Kinpo-Compal Group and Taiwan Electrical and Electronic Manufacturers' Association (TEEMA), pointed out that the global production value of automotive electronics parts and systems is expected to reach US$192 billion in 2010 as modern automobiles are adopting an increasing ratio of electronics and ICT equipment.

Hsu urges the government to utilize more resources to develop Taiwan's automotive electronics line and help ingrate up- and down-stream makers to achieve strong global competitiveness, and hold related international exhibitions on the island to attract global buyers.