Southeast Asia’s Chip Bids and Latin America’s Nearshoring: The Factories Nobody Has Built Yet
Thailand and Vietnam have launched concrete chip strategies with big incentives, challenging Latin America's nearshoring pitch. The real competition is over trained people and tax breaks, not just wages. The post Southeast Asia’s Chip Bids and Latin America’s Nearshoring: The Factories Nobody Has Built Yet appeared first on The Rio Times .
Four Southeast Asian nations are vying to establish semiconductor industries, while Latin America's nearshoring strategy faces a new competitor. Thailand recently unveiled a semiconductor roadmap, followed by Vietnam. The competition is not solely about low wages but also incentives and skilled labor. Both Thailand and Vietnam are competing with Mexico and Brazil for global capital.
Thailand's plan includes a 2030 target of one semiconductor factory, two advanced packaging facilities, and eight chip design firms. The country will need approximately 3,000 specialized workers, including researchers, engineers, and technicians. Thailand's Board of Investment has approved a 200 billion baht incentive package, featuring a 15-year corporate income tax exemption, tariff reductions, infrastructure subsidies, and a talent fund to train 20,000 engineers in five years.
Vietnam's strategy emphasizes regional cooperation and talent development, focusing on its strengths in assembly and testing. Both Asia and Latin America face a shortage of skilled engineers and technicians, making talent development crucial for winning investment.
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