Taiwanese President Lai Ching-te unveiled plans on Tuesday for a sovereign wealth fund and investment platform. This initiative aims to enhance Taiwan's global industrial capabilities, with a significant focus on technology and artificial intelligence (AI). The announcement was made at the presidential palace on the first anniversary of his inauguration.

Lai emphasized that the initiative would support Taiwan’s objective of maintaining a strong domestic base while simultaneously expanding its international economic influence. “We will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the U.S.,” Lai stated.

This announcement follows increased U.S. investment in Taiwan’s tech sector. Lai mentioned companies like Entegris, Micron, Google, AMD, and Nvidia as examples of Taiwan’s growing importance in the global technology ecosystem. Nvidia’s CEO, Jensen Huang, announced plans a day earlier to establish a new overseas headquarters, Nvidia Constellation, in Taipei.

President Lai also spoke to international attendees at Computex Taipei, a major tech trade event that opened on Tuesday, hosting 50,000 visitors from abroad. He highlighted Taiwan’s collaboration with democratic partners like the United States to strengthen the semiconductor supply chain and counter low-cost competition from China’s state-subsidized industries.

In 2024, Taiwan’s tech and semiconductor industries achieved export revenues exceeding $100 billion, a 59 per cent increase. Over 90 per cent of the world’s advanced wafer manufacturing is currently based in Taiwan. Lai said that the fund and investment platform would enable Taiwan to lead in AI and tech innovation while reinforcing its role in the global economy.