Plans $760 mn investment | business | Hindustan Times
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Plans $760 mn investment

business Updated: May 04, 2010 21:37 IST

The Taiwanese government will invest 24 billion New Taiwan dollars ($760 million/ Rs 3,350 crore) in cloud-based computing over the next five years, as a complement to Microsoft Corp’s support for local firms to develop and use the new technology.

Cloud computing involves running applications in Web browsers instead of installing them on individual hard drives. The information is stored in data centers run by third parties such as Google.

Taiwan’s deputy economics minister Lin Sheng-chung said the Cabinet has approved the investment plan that could streamline public services and generate numerous business opportunities for local companies.