The production of 3nm chips is already happening in Taiwan, and the even more advanced 2nm and 1nm development and production in Taiwan are also on track, Wang added.
Taiwan Semiconductor Manufacturing, as it is formally called, has repeatedly said that the bulk of its manufacturing will remain in Taiwan.
TSMC’s Taipei-listed shares were up 1.5 per cent on Wednesday morning, outperforming the broader index.
The company is the world’s largest contract chip maker and a major supplier to global tech firms including Apple.
United States President Joe Biden has sought to boost semiconductor production at home after the COVID-19 pandemic caused supply chain problems that led to shortages of chips for vehicles and many other items.
Taiwan has been keen to show the US, its most important international supporter and arms seller in the face of mounting Chinese military pressure, that as a “like-minded democracy” it is a reliable semiconductor partner and supplier and has supported the Arizona plans.
But the government is also rolling out more support for the chip industry at home, including proposing larger tax breaks for technology companies’ research and development to retain its competitive edge.
It is also encouraging more foreign tech firms in the chip supply chain to invest in Taiwan.
Premier Su Tseng-chang said late on Tuesday that his deputy Shen Jong-chin was leading a task force to promote such investments.