Taiwan will spend US$290 million over the next five years to boost the development of quantum technology. Premier Su Tseng-chang announced the plan at a Cabinet meeting on Thursday, saying Taiwan would create a “quantum national team” of industry experts.

Quantum technology is an emerging field of engineering that works by using the principles of quantum mechanics. It promises to create more powerful computers, more reliable navigation systems and more secure communications.

Cabinet Spokesperson Lo Ping-cheng says Taiwan aims to create a platform for exchange between the worlds of industry and research. The government will also push forward with plans to set up a quantum research base at the Shalun Industrial Park in Tainan.

Lo says the project aims to ensure that Taiwan continues to play a key role in the use and development of core quantum technologies in an era of international competition. He says the project will allow quantum computers to spark the next leap forward in Taiwan’s semiconductor industry.