Taiwan's government plans to continue heavily investing in and developing the 5G network to bring a new era of "smart technology". That's according to a report released by the finance ministry on Thursday. The report states that Taiwan has already invested almost NT$2 billion (US$68 million) in making the switch to 5G, and that it plans on increasing the speed of these developments.
Premier Su Tseng-chang says that by 2035, global economic activity spurred by the 5G network will surpass US$13 trillion. He adds that 5G will be critical to establishing "smart" vehicles, medical care systems, cities, and manufacturing plants.
Su says that Taiwan's telecommunications industry is renowned throughout the world, and that having an advanced 5G network throughout the country will further cement this position.
Meanwhile, Cabinet Spokesman Lo Ping-cheng says that in order to develop the 5G system more rapidly, the government will be investing NT$49 billion (US$1.8 billion) in 5G over the next five years. Lo says that investors in 5G will be rewarded with reduced property taxes.