Singapore, Vietnam and Thailand aim to become a regional leader in the semiconductor manufacturing industry while the demands of artificial intelligence technology and electric vehicles are increasing.
Singapore is expanding its decades-long domination in the semiconductor industry in the region following the visit of Indian Prime Minister Narendra Modi. During the visit, the countries signed four memoranda of understanding aimed at deepening cooperation in the areas such of semiconductors, digital technology, skills development, and healthcare.
Currently, Singapore accounts for 10% of global chipmaking output, and around 20% of semiconductor manufacturing equipment production.
Meanwhile, Vietnam is drafting a new digital technology industry (DTI) law that offers several privileges to global chip makers investing in the country, according to Nikkei Asia.
US semiconductor giant Nvidia is already in talks with Vietnam’s FPT Corporation to build a research and development facility for AI technology. Moreover, Netherlands’ chipmaker Besi has announced an investment of US$164 million in the country.
In Thailand, the country’s Board of Investment (BOI) says it would propose new measures to fast-track investments in upstream manufacturing of semiconductors and batteries.
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