On the evening of September 14, President Tsai Ing-wen attended the SEMICON Taiwan 2022 Leadership Gala Dinner. In remarks, President Tsai stated that the semiconductor sector is central to our plans to turn Taiwan into a major force in the global economy. The president said that we will work together with the industry and academia to develop the talent and technology to maintain Taiwan's strategic advantage in this field. She also expressed confidence that, with the incredible array of firms throughout the industry chain, Taiwan will be able to capitalize on the latest technology trends and help our semiconductor industry scale new heights.
A transcript of President Tsai's remarks follows:
It is a pleasure to once again attend the SEMICON Leadership Gala Dinner and join so many leaders from the semiconductor industry at this influential event. As you all know, this industry has been the cornerstone of Taiwan's economic development. And your efforts have helped Taiwan maintain its competitive edge.
Now in its 27th year, SEMICON Taiwan continues to facilitate collaboration and highlight the latest industry trends and opportunities. SEMICON is not just an important event for Taiwan. It is a key driver of progress for the global semiconductor sector.
This year's SEMICON Taiwan will be the biggest since its founding in 1995, with over 700 exhibitors and more than 2,400 booths. This, together with our domestic semiconductor sector's outstanding 2021 growth rate of 26.7 percent over the previous year, is a sign of even better things to come.
The continued success of this industry comes in the face of unprecedented global challenges in recent times, including considerable uncertainty around supply chains. And even today, new challenges continue to arise, making the situation more volatile.
But, as in the past, our government will work closely with the industry to get through this challenging time. Time and again, Taiwan has proven its agility and resilience in meeting challenges and ensuring that our semiconductor industry maintains its world-leading status.
Taiwan has the most complete semiconductor ecosystem, home to the world's largest foundry and packaging and testing sectors, and second largest IC design sector.
When it comes to the most advanced chips, Taiwan always leads the way. Taiwan manufactures 70 percent of chips under seven nanometers and is at the cutting edge of two nanometer process R&D.
Our government continues to encourage and facilitate investment in our domestic semiconductor industry to sustain its remarkable progress. We are delighted to see SPIL announce its plan to invest more than US$3 billion in a new facility in central Taiwan. And this past July, I visited the impressive new Micron plant in Taichung.
I hope that these new facilities and the recent investments made by Taiwanese and international companies, including TSMC, Nanya, PSMC, and Merck, will create quality jobs and further consolidate our industry clusters.
To invest in the future of this critical industry, the government and universities are joining the private sector in establishing several new semiconductor institutes in Taiwan. This is part of our efforts to raise the bar for talent cultivation and R&D, ensuring the sector's sustainability.
We also continue to work with the industry to spur greater innovation, and push the limits of what is possible in semiconductor technology. The semiconductor sector is central to our plans to turn Taiwan into a major force in the global economy. Working together with the industry and academia, we are developing the talent and technology to maintain Taiwan's strategic advantage in this field.
Semiconductors are the beating heart of the technologies of the future. AI, next-generation communications technology, electric vehicles, autonomous driving technology, and smart manufacturing all rely on the chips that your companies are producing. I am confident that, with the incredible array of firms throughout the industry chain, we will capitalize on these technology trends and help Taiwan's semiconductor industry scale new heights.
Lastly, I want to thank you all again for your contributions, which have made possible the continued success of this industry. The government stands ready to help you achieve your goals and help our semiconductor sector thrive well into the future.
I hope this year's SEMICON Taiwan is a great success and wish you all the best. Thank you.
Following her remarks, President Tsai presented a number of distinguished industry professionals with Industry Contribution Awards in recognition of their outstanding work.