15 U.S. chip companies eye $8bn investment in Vietnam, says senior official
Jan.26,2024

Asia Tech Wire (Jan 26) -- Fifteen U.S. chip companies have expressed interest in investing $8 billion in Vietnam, a U.S. senior official visiting the Asian country said on Friday, according to Reuters.

Jose W. Fernandez, Under Secretary for Economic Growth, Energy, and the Environment at the U.S. State Department, said the investment would be conditional on development of a renewables regime in Vietnam.

Fernandez said 15 semiconductor companies have now told the U.S. government they are ready to invest up to $8 billion in this sector in Vietnam.

But he added that the companies emphasised the need for Vietnam to develop a renewable energy regulatory regime because they "made commitments to shareholders and customers they will use only renewable energy."

The companies are waiting for permission and development of the regulatory regime in Vietnam before they can proceed with their investment plans, Fernandez added.

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