Taipei, May 20 -- President Lai Ching-te on Tuesday announced a plan during his first anniversary speech for Taiwan to set up a sovereign wealth fund (SWF) to be responsible for foreign investment "to connect with the world," as reported by Focus Taiwan.

"The government will set up a sovereign wealth fund to build a national-level investment platform," he said in his address made at the Presidential Office one year after he took office.

The fund will "take advantage of the strengths of Taiwanese businesses and be led by the government while harnessing the power of the private sector to build a global presence and connect with major target markets in the AI era," Lai said, without elaboration.

During a question and answer session follow...