Taiwanese tech giant MediaTek celebrated its 10th year in Singapore on Tuesday with plans to invest more than $250 million in its operations here by 2020.

The "fabless" semiconductor company wants to expand its research and development (R&D) operations here, which is already among its most advanced globally.

A fabless manufacturer designs semiconductor chips but outsources the fabrication to another firm.

Singapore is also its regional hub for logistics and manufacturing operations.

The company said in a statement that it will establish an innovation centre in Singapore that will develop cutting-edge consumer, medical and industrial products and applications.

"This strategic R&D leverages Singapore's well-established healthcare infrastructure and its desire to build a smarter city using the latest technology to improve people's lives."

Mr Leo Yip, Economic Development Board (EDB) chairman, added: "We are delighted that MediaTek plans to significantly expand its integrated circuit (IC) design centre here, making it the largest in Singapore with over 300 engineers."

He said the IC design centre and new innovation centre will develop "exciting new products and applications, enabling Singapore to harness growth opportunities from the Internet of Things".

Besides technology development, MediaTek also wants to build a strong technical talent pool in Singapore, and promote next generation technologies through research.

Nanyang Technological University (NTU) will start a new MediaTek Endowed Professorship in IC Design with a gift from the company and a matching grant from the Government.