TAIPEI (TVBS News) — President Lai Ching-te (賴清德) announced on Tuesday (Nov. 4) the launch of a new AI initiative aimed at securing Taiwan's competitive edge for the next 30 years. Speaking at the opening ceremony of the summit hosted by the Commercial Times (工商時報) to showcase Taiwan's financial potential, Lai emphasized the strategic importance of this development.
Lai highlighted the dual purpose of the national defense budget, which will also support industrial growth. He stated that his future goal is to build a shield that ensures the safety of citizens and bolsters the defense industry. Lai revealed plans to negotiate investment protection agreements with the Philippines, Vietnam, and India, aiming to avoid double taxation and provide legal safeguards for Taiwanese investors abroad.
The president also mentioned upcoming agreements with the U.S. and the U.K., alongside enhanced trade collaborations with Canada and Australia, to expand the global reach of Taiwanese products. Lai reaffirmed his administration's commitment to the semiconductor industry, which he identified as crucial for the future smart era.
Addressing geopolitical shifts, Lai detailed plans to increase the defense budget to 3.32% of GDP, potentially reaching 5% by 2030, aligning with NATO standards. He noted ongoing collaboration with the U.S. and international partners in the defense sector, highlighting the record scale of this year's defense industry space exhibition, with the most participating countries and companies and more advanced weaponry.