Vietnam wants to compete with Taiwan by establishing its first wafer fab

In brief: The Vietnamese government has just approved the construction of the country's first-ever wafer fabrication plant. It's an ambitious project with a total investment of VND 12.8 trillion (~$500 million), and construction is expected to be completed before 2030. But it doesn't end there. The country also aims to become one of the world's leading semiconductor nations between 2040 and 2050. TrendForce reports that the facility will focus on producing specialized chips for high-tech applications like AI, defense tech, and more. It has some serious financial backing as well, with the local government pledging to cover up to 30% of the cost, plus tax incentives. A special steering committee led by Vietnam's Prime Minister will also oversee everything. This push shouldn't come as a total surprise. Over the last couple of years, Vietnam has actively engaged in negotiations and discussions with major chip companies from the US, South Korea, Taiwan, and other leading semiconductor nat ... Read full article.