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 U.S. 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 U.S. 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.
It may also support local firms such as state-owned tech company Viettel to build fabs with imported equipment, Hung Nguyen, senior program manager on supply chains at Hanoi's University Vietnam, told Reuters.However, Robert Li, Vice President of U.S. Synopsys, a leading chip design firm with operations in Vietnam, urged the government to "think twice" before doling out subsidies to build fabs.
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Still mired in the Greenbelt scandal, with an RCMP investigation ongoing, the Doug Ford PC government is doing damage control to restore public trust. Its actions, however, continue to draw questions about the way this government operates when it thinks no one is watching.