HO CHI MINH CITY -- Washington is prepared to pump funds into Vietnam's chip sector to shore up supply chains and wants the country to "take advantage" of its bid to reduce reliance on China, a visiting U.S. envoy said.
The U.S. is targeting seven countries for part of its CHIPS and Science Act, which includes $500 million for improving semiconductor training, cybersecurity and business climates globally, said Jose Fernandez, U.S. undersecretary of state for economic growth, energy and the environment. Fernandez told Nikkei Asia that Vietnam should also take action before it is too late to attract investment in vital industries, like clean energy and minerals, that can be used for electric vehicles and batteries.
