Vietnam just approved its first chip factory, which will cost $500 million. The country expects to finish the first phase by 2030, making specialized chips for military needs, AI systems, and other high-tech gadgets. The government will pay up to 30% of the costs, maxing out at 10 trillion VND, and hand out tax breaks to sweeten the deal. The Prime Minister leads a special team that watches how the project moves forward and where the money goes.
This factory kicks off Vietnam's bigger plan for making semiconductors, aiming to build up their ability to design, make, and test chips all in one country. The investment might seem small when you compare it to fancy new chip factories that cost around $50 billion. Vietnamese leaders see this...