The US$50 billion chip foundry bet competes with China, US, South Korea, and EU subsidies and spending plans.
HANOI: Vietnam is holding talks with chips companies with the aim of boosting investment in the country and possibly building its first chipmaking plant, or fab, two business executives said, despite warnings from US industry officials about high costs.
A chip executive, who declined to be identified because he was not allowed to talk to media, said talks with potential investors have involved US contract manufacturer GlobalFoundries and Taiwan’s PSMC. GlobalFoundries attended a restricted business summit during Biden’s visit after an invitation from the president himself, the company said, but has since shown no immediate interest in investing in Vietnam, a person familiar with the matter said.
The Vietnamese government has said it wants its first fab by the end of this decade and on Monday said chip companies would benefit from “the highest incentives available in Vietnam”.