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Singapore remains vibrant, competitive semiconductor hub despite challenges: DPM Wong
Singapore’s key asset is human capital – a well-educated and highly skilled workforce that powers its strong innovation and research capabilities. ST PHOTO: KUA CHEE SIONG
Ovais Subhani
Senior Correspondent
UPDATED
2 MINS AGO
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SINGAPORE – The decision by GlobalFoundries (GF) to expand its manufacturing base here proves that Singapore will continue to have a strong, competitive and vibrant semiconductor industry despite the intense global battle for high-end chip investments, Deputy Prime Minister Lawrence Wong said on Tuesday.
Speaking at the opening ceremony of the US-based company’s new US$4 billion ($5.4 billion) microchip fabrication plant in Woodlands, Mr Wong said that Singapore “cannot afford to engage in a subsidy arms race” and outbid the United States, China, Japan and European Union, which have rolled out massive subsidies to attract chipmakers.
But he noted that while Singapore is not the cheapest location worldwide, “we have many things going for us – our excellent connectivity; our
reliability and stable business conditions; and also a critical mass of leading companies based here which cover the value chain, from design to wafer fabrication, to assembly and