However TSMC is a direct creation of the Taiwanese government.

    In 1985 Morris Chang was recruited by 
    the Taiwanese government to help develop 
    the emerging semiconductor industry. In 
    1986 Morris joined the Hsinchu based non 
    profit research institute ITRI as Chairman 
    and President and launched what would be 
    TSMC’s first semiconductor wafer 
    fabrication plant on the ITRI campus. 
    Taiwan Semiconductor Manufacturing Company 
    Ltd. was officially formed in 1987 as a 
    joint venture between the Taiwan government 
    (21%), Dutch multinational electronics 
    giant Philips (28%), and other private investors.

https://semiwiki.com/semiconductor-manufacturers/tsmc/1539-a...