Mar 04, Kathmandu- Taiwan's semiconductor maker TSMC has announced a $100 billion investment in the United States. The company's CEO, C.C. Wei., unveiled the plan during a meeting with US President Donald Trump on Monday.

The investment will see the opening of five chip factories in the United States over the next year. "We need to be able to produce the chips and semiconductors we need here, it's a matter of national security," Trump said while unveiling the plan.

By producing locally, the United States will be less dependent on Asia for chips. Taiwan's TSMC is currently the world's largest chip maker.

The company said that the investment will create 40,000 construction jobs over the next four years.