TAIPEI ? Taiwan will spend around seven billion Taiwan dollars ($219.3 million US) over the next four years to boost the development of cutting-edge telecom technologies, an official said Tuesday.

The project to give the island an edge in fourth-generation (4G) technologies was approved Monday by the Council for Economic Planning and Development, the island's top economic planning body.

"Part of the money will be used to encourage local private companies to develop key parts for the WiMAX network," said Chou Chung-pin of the Industrial Development Bureau, an agency under the economic ministry.

Companies involved in the projects will have to provide up to 80 percent of the cost, with the balance covered by subsidies from the government.

WiMAX 4G technology provides high-speed broadband wireless services as well as improved image and data services, and will potentially allow for such features as multi-channel high-definition TV broadcasting.