ASEANEWS HEADLINE-BUSINESS | THAILAND/VIETNAM/SINGAPORE: Semiconductor competition: Thailand, Vietnam, Singapore seek to lead regional market
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ANN/THE NATION – Thailand, Vietnam, and Singapore are all in a race to establish themselves as regional leaders in the semiconductor manufacturing sector, as the industry gains momentum globally due to the increang demand for artificial intelligence (AI) and electric vehicles.
In Thailand, the Board of Investment (BOI) is planning to introduce new strategies aimed at accelerating investments in upstream manufacturing under the administration of Thai Prime Minister Paetongtarn Shinawatra.
Memento Maxima Digital MarketingThe focus will be on two critical sectors: semiconductors and batteries. BOI Secretary-General Narit Therdsteerasukdi announced that the BOI is pushing for the establishment of a dedicated ‘Semiconductor Board’ to oversee investments in this key industry and to attract firms from the United States (US) and Europe to Thailand over the next few years.
Meanwhile, Vietnam is developing a new Digital Technology Industry (DTI) law, which will provide significant incentives to global semiconductor companies seeking to invest in the country, according to a report by Nikkei Asia. The report said the DTI law offers up to 150 per cent tax rebate on research and development expenses of new innovations, as well as up to 10 years’ free usage of land and fast-track visas for foreign experts.
Companies investing more than USD160 million would be entitled to fast-track registration and exemption on selected raw materials and equipment, the report added.
Nikkei Asia noted that US semiconductor giant Nvidia is in talks with Vietnam’s FPT Corporation to build a research and development facility for AI technology. Netherlands’ chipmaker Besi also announced an investment of USD164 million in Vietnam.
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