On the morning of September 19, President Tsai Ing-wen met with directors and supervisors from SEMI and the Taiwan Semiconductor Industry Association (TSIA), as well as other top executives of semiconductor firms from home and abroad. The president stated that last year, the output value of our semiconductor industry reached NT$2.6 trillion, for an annual growth of 6.4 percent. Our administration will continue working with our friends in the business community to make Taiwan even more competitive, so that the semiconductor industry can continue to spur economic growth, and secure a key spot in the global market.
A translation of the president's remarks follows:
SEMICON Taiwan 2019 is currently underway, and this year there are more than 700 domestic and international firms from 43 countries participating. This is the world's second largest semiconductor industry exhibition, thanks to leaders like yourselves who have worked so hard to promote industry development.
I attended the SEMI Leadership Gala last night with many of you, and I am delighted to have the opportunity to receive you today at the Presidential Office. I would like to once again thank you on behalf of our government for your contributions, and hear your valuable insights.
Over the past three years, our administration has utilized Taiwan's semiconductor sector advantages to promote innovative applications under our "5+2 industrial innovation program." We are using projects like the IC Design and Semiconductor Technology Research and Application Project to integrate government and private resources, strengthen linkages between IoT and AI industries, and cultivate the industry talent we need.
When I met with you last year, I said that I would transform Taiwan into the world's premier investment destination. I'm sure that you have seen the results of our efforts, as many major domestic and international firms have expanded their investments in Taiwan.
TSMC Chairman Dr. Mark Liu (劉德音), Powerchip Semiconductor Chairman Dr. Frank Huang (黃崇仁), and ASE Group Chief Operating Officer Dr. Tien Wu (吳田玉) are all here today. TSMC's plant in the Southern Taiwan Science Park will launch the trial run of its 5-nanometer chip manufacturing process this year, and has announced plans to build a wafer fab for its 3 nanometer manufacturing process in Taiwan as well. Powerchip Group has successfully transitioned to the foundry sector, and its subsidiary Powerchip Semiconductor Manufacturing will complete construction of a 12-inch wafer fab.
ASE Group is also working hard to develop advanced packaging technologies and manufacturing processes while expanding investments in Taiwan. Furthermore, Micron Technology's A3 plant in Taichung will make Taiwan a one-stop base for global DRAM manufacturing.
These developments are all a reflection of the continued progress of Taiwan's semiconductor industry. Last year, the output value of our semiconductor industry reached NT$2.6 trillion, for an annual growth of 6.4 percent. Our administration will continue working with our friends in the business community to make Taiwan even more competitive, so that the semiconductor industry can continue to spur economic growth, and secure a key spot in the global market.
I look forward to hearing your valuable insights and suggestions.
Also in the visiting group was SEMI President and CEO Ajit Manocha.