Vietnam among top targets for US science aid funds: Nikkei Asia

Washington is prepared to pour funds into Hanoi’s chip industry as a move to fortify supply chains, said Jose Fernandez, U.S. Under Secretary of State for Economic Growth, in a quote from Japan’s Nikkei Asia newspaper. The U.S. is targeting seven countries, including Vietnam, for part of its CHIPS and Science Act (CHIPS Act), which includes foreign aid of US$500 million for improving semiconductor training, cybersecurity, and business climates globally, the newspaper reported on Monday, citing Under Secretary Fernandez, who recently visited Vietnam. The U.S. will allocate foreign aid under the CHIPS Act based on recommendations by the Organization for Economic Cooperation and Development (OECD) that are due in February. In reviving its own mines, America has entered a deal with 13 countries to coordinate financial and diplomatic support on minerals, and has offered to help Vietnam survey its rare-earth reserves.