TAIPEI (Taiwan News) — The National Development Council (NDC) announced Friday (Oct. 11) the government’s plan to invest NT$12.5 billion (US$388 million) into semiconductors, AI, defense technology, security systems, and communications.

NDC said in a press release it will coordinate with the Ministry of Economic Affairs (MOEA), the National Science and Technology Council (NSTC), and the Ministry of Digital Affairs (MODA) to implement the investment.

Regarding recruitment, the NDC cited the Cabinet’s approval of the “National Talent Competitiveness Enhancement Program,” on Sept. 9, which aims to cultivate 450,000 talents in fields such as artificial intelligence by 2028 and attract 120,000 foreign professionals, per CNA. The plan’s budget is estimated at NT$5.2 billion.

The NDC said the government will also introduce trillion-dollar investments to rejuvenate public infrastructure. It is collaborating with the relevant ministries to draft the “Trillion-Dollar Investment National Development Program,” which is under review by the Cabinet.

Additionally, the NDC confirmed the “Taoyuan-Hsinchu-Miaoli Silicon Valley Promotion Plan” was submitted to the Cabinet for approval on Sept. 30. The goal is to turn northwestern Taiwan into a leading technology corridor.