Taiwan is setting up a governing body to map out the island's development of 5G mobile networks, according to Xinhua News.
This should be done as soon as possilbe to help Taiwan keep its edge in the communications industry and provide people with a smart lifestyle, said Jiang Yi-huah, Taiwan's premier.
The island could explore developing its own 5G services to create a niche in specific sectors, and take the initiative in setting standards for the region.
Taiwan is the latest to jump on the bandwagon, following South Korea's announcement last week to invest US$1.5 billion to set up a 5G network by 2020. With an increasingly mobile workforce, a speedier mobile network is seen as crucial in supporting businesses and growing new services.
Separately, Taiwan is targeting to attract NT$120 billion (US$3.4 billion) in investments in the smartphone and telecoms industry this year, according to Want China Times. Its goal comes at a time when chipmakers are expanding R&D investments and the launch of more 4G infrastructure projects.