Taipei, Dec. 2 (CNA) President Chen Shui-bian praised a joint venture between Taiwan and Germany to build memory chip plant, saying the project will help lay a solid foundation for the development of Taiwan's industry.
President Chen made the remarks when he attended a ground-breaking ceremony for the plant to produce 12-inch silicon chip in Taoyuan, northern Taiwan.
President Chen said the major investment project, which will create 3,000 jobs and business revenue of NT$300 billion over the next five years, is significant at a time when Taiwan is facing the challenge of a decline in foreign investment.
He said the joint-venture not only represents the strength of Nanya Technology, but also signifies the strong competitiveness of Taiwan's semiconductor industry, which he said will help encourage other foreign investors to come to Taiwan.
He expressed appreciation to Nanya Technology and Infineon Technologies and said he hopes that the project will help stimulate the economy and help it out of its current doldrums.