The US State Department has joined forces with the Government of Vietnam to grow and diversify the global semiconductor ecosystem under the International Technology Security Innovation (ITSI) Fund, created by the CHIPS Act of 2022.
As a first step, this partnership will conduct a comprehensive review of Vietnam’s current semiconductor landscape, regulatory framework, and infrastructure requirements to identify areas of collaboration.
According to global data company Statista, Vietnam’s semiconductor market is projected to reach $17.24bn in 2023. The US also recognises the country’s semiconductor market as both diverse and resilient.
In August 2022, President Biden signed into law the CHIPS Act of 2022, which allocated new funding to bolster domestic semiconductor manufacturing and research in the US.
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