Vietnam dangles chip incentives to draw foreign companies

HO CHI MINH CITY -- Vietnam has pledged tax breaks and other perks to semiconductor companies that help to develop the sector in a Southeast Asian country that is taking on an increasingly crucial role amid the China-U.S. chip war.

Hanoi's national plan for chips will include industry grants through a science fund and joint state research with private companies like FPT, the science minister said in an interview published Monday. Companies from Nvidia to Samsung are looking to expand their chip businesses in Vietnam, which is slated to receive millions from the U.S. CHIPS and Science Act and already hosts Intel's biggest global test and assembly factory.