The Business Times
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Does Singapore have the stomach to back a local chip player?

Without a national champion, the Republic’s semicon industry is dependent on foreign giants

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Yong Jun Yuan

Yong Jun Yuan

Published Mon, Jul 22, 2024 · 05:00 AM
    • It is difficult for Singapore to outdo the massive subsidies and incentives offered by China and the US to their chipmaking businesses.
    • It is difficult for Singapore to outdo the massive subsidies and incentives offered by China and the US to their chipmaking businesses. PHOTO: REUTERS

    THE semiconductor industry is a major contributor to Singapore’s economy, accounting for 8 per cent of gross domestic product – yet, it has no national champion.

    This is in stark contrast to other key sectors, such as finance or oil and gas, which have local players that are bound tightly to the nation such as DBS and Seatrium, respectively.

    Amid turbulent times for the global semiconductor scene, one might ask: Could semicon giants someday abandon Singapore?

    semiconductorsSingapore manufacturingBT Chip series

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