Taipei, Sept. 13 (CNA) The production value of Taiwan's integrated circuit (IC) sector is expected to grow 3.5 percent in 2017 year-on-year, to serve as a pillar of Taiwan's industrial development, a top economic official said Wednesday.
Speaking at the opening ceremony of SEMICON Taiwan 2017, the largest IC trade show in the country, Deputy Minister of Economic Affairs Kung Ming-hsin said that the output of Taiwan's semiconductor business is expected to hit NT$2.54 trillion (US$84.67 billion) in 2017, up 3.5 percent from NT$2.45 billion recorded a year earlier.
Kung said that the growth of the IC sector shows its business strength after years of stable development, which has boosted Taiwanese semiconductor firms' global competitiveness and improved their efficiency.
Kung praised Taiwan's efforts in developing the semiconductor industry, which has built a strong foothold -- from IC design to contract chip production to IC packaging and testing services -- to take the lead in the global market.
Taiwan is home to many IC heavyweights, including Taiwan Semiconductor Manufacturing Co., the world's largest contract chip maker, and Advanced Semiconductor Engineering Inc., the largest IC packaging and testing service provider in the world.
"Taiwan's IC sector, which has laid a solid foundation for local industrial development, is expected to serve as support for the next-generation industries," Kung said, referring to the government's "five plus two" industrial innovation program.
The "five plus two" industries refers to seven key innovative industry development projects that the government has proposed to transform Taiwan's economic and industrial structures.
Among them are a project to turn Taiwan into an "Asia Silicon Valley," along with projects related to biotech, green energy, smart machinery and national defense.
Kung said that these industries will develop based on a strong IC industry, so the government is determined to fully support the semiconductor sector to benefit industrial development.
SEMICON Taiwan, which will run through Friday at the Taipei Nangang Exhibition Center, hosts about 700 exhibitors from Taiwan and abroad, showcasing their products and solutions in 1,700 booths, and is expected to attract more than 43,000 visitors, according to the organizer, SEMI Taiwan.
