The small Southeast Asian city of Singapore continues to attract multi-billion dollar semiconductor investments, muscling in on larger economies trying to grab their own share of the critical chip supply chain.
Vanguard International Semiconductor, a chipmaker backed by Taiwan Semiconductor Manufacturing Company, will team up with the Netherlands' NXP Semiconductors to invest $7.8 billion in a new chip wafer plant in Singapore. The companies expect to begin construction later this year, with production coming online in 2027.
