The U.S. government has approved a $50 billion investment package to strengthen domestic semiconductor manufacturing. The initiative comes amid rising global demand and increasing dependence on Asian suppliers.
The “Chips for America” Act will provide incentives for companies to set up fabrication plants across several states. Intel, TSMC, and Samsung have already announced major projects under this plan.
According to President Joe Biden, the move is essential for maintaining technological leadership and reducing supply chain vulnerabilities exposed during the pandemic. Economists say it could create over 100,000 high-tech jobs within the next five years.
Asian nations like India and Bangladesh, which are developing their own electronics manufacturing ecosystems, are expected to benefit from technology transfer and potential U.S. partnerships.