As part of its ‘Asia Silicon Valley Development Plan’, Taiwan has designated a special focus to each of its regions. The Taiwanese government is aiming to develop a new economic model and make Taiwan, “the stage for innovation talent in Asia and example of innovation and entrepreneurship, with the goal of achieving the vision of ‘Digital Nation, Smart Island.'”
Over the past 60 years, Taiwan has moved from being a factor-driven economy to an efficiency-driven one. With the rollout of the ‘Asia Silicon Valley Development Plan’, Taiwan aims to jump-start its development as an innovation-driven economy.