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Singapore plays catch-up with Taiwan as chip investments soar

City-state gains from supply chain diversification drive but lags Asian peers

U.S. semiconductor giant GlobalFoundries will invest over $4 billion in its Singapore plant, increasing its capacity to about 1.5 million wafers per year.   © GlobalFoundries

SINGAPORE -- Singapore has unveiled billions of dollars of semiconductor-related investments over the past year - but it still has far to go if it wants to match Taiwan and other chipmaking powerhouses in Asia.

Although it is known in Asia as a prominent financial and technology hub, Singapore's peers in the region dwarf it in chipmaking. The city-state is attempting to shore up its electronics sector, having set a target to grow its manufacturing industry by 50% by 2030, with the semiconductor segment featuring strongly in the effort. Foreign investment will play a key role in reaching the target.

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