Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Samsung asks the US To Ensure an Equal Chance for CHIPS Act Incentives

Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Samsung Electronics called on the US to give foreign chipmakers an equal chance to compete for state incentives to expand production capacity and solve a continuing chip shortage, a document showed on Tuesday.

Washington should “ensure that all qualifying companies should be able to compete for CHIPS Act incentives to pursue semiconductor projects in the US on an even playing field, irrespective of their country of incorporation, – Samsung said in a response submitted to the US Commerce Department.

That way, the Act could fulfill its objectives of “increasing US semiconductor capacity,” the South Korean company said, by encouraging “new private capital investment in the semiconductor ecosystem.”

The CHIPS Act is aimed at boosting US chip manufacturing capacity and capability, and shoring up supply chains, ultimately restoring its manufacturing prowess, reports Yonhap news agency.

If enacted, it would offer chipmakers $52 billion in grants and subsidies to rev up chip production in the US.

Global competition for chip dominance has heated up amid the global shortage of semiconductors that have crippled the production of cars and consumer appliances.

Samsung is building a $17 billion advanced chip plant in Texas, with mass production to begin in the latter half of 2024.

The company has been running manufacturing operations in the US for more than four decades and is employing over 20,000 Americans.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic