The move by President Joe Biden’s administration is a “muscular industrial policy to bring back manufacturing and technology development to the US,” Beh said. “It has definitely made competition for investments more intensive and certainly for the type of investments that today Singapore is also aiming for.”
Singapore will be looking to win its “fair share” of investments in semiconductor assembly and integrated circuit design, a top official said, amid a growing geopolitical divide between the US and China over trade and technology.
The city-state will be focusing on the semiconductor value chain of activities, Beh Swan Gin, chairman of Singapore’s Economic Development Board, said in an interview with Bloomberg Television’s Haslinda Amin on Monday, as he discussed the fallout of the US’s so-called CHIPS Act aimed at wooing investments back to America and stemming China’s economic influence.
