Hey Chai, Here 為 (pronounced in the second tone) means is (是). It's used in formal writing. Also, you needn't put spaces in between the characters. Laurence

"is".

A great question! “为” has two tones, wéi and wèi. Here the 为 in your sentence should be pronounced as wéi. It means “是”（roughly in English is “is”) . Reference： 百度汉语， https://hanyu.baidu.com/zici/s?wd=为&query=为&srcid=28532&from=kg1&srcid=&query=为

”为“有两个意思，根据上下文确定。 1、请问现在是什么时间？时间 为 两 小时 二 十 分钟。“是”的意思。不常用。 2、你们走了10公里路，消耗的热量为10000卡路里，时间 为 两 小时 二 十 分钟。“用”或“花费”的意思。这个的意思更常用一些。

为 in this sentence is mean “”is“”，the time is two hours and twenty minutes.