Two of the world’s leading chipmakers, TSMC and Samsung Electronics, have discussed developing prospective chip projects in the United Arab Emirates in the future years that could be valued more than $100 billion, as per media reports.
TSMC’s top executives recently visited the UAE and discussed a plant complex on par with some of the company’s largest and most advanced facilities in Taiwan, according to persons familiar with the conversations.
Samsung Electronics, a South Korean manufacturer of smartphones, televisions, and memory chips, is also planning substantial new chip-making facilities in the country in the coming years, according to the report.
TSMC said that it had no new investment plans to disclose.
“We are always open to constructive discussion on ways to promote development of the semiconductor industry, but we remain focused on our current global expansion projects and have no new investment plans to disclose at this time,” it said in a statement on Monday, without elaborating.
Samsung declined to comment on a report.
Senior executives from Samsung Electronics recently visited the UAE to discuss the proposal. The conversations were still in their early stages and could face technical and other challenges.
The UAE would fund the projects, with Mubadala, an Abu Dhabi-based sovereign development vehicle, playing a prominent role.
The report went on to say that the overall goal would be to enhance global chip manufacturing and assist in driving prices down while without jeopardizing chipmakers’ profitability.
As regional technology partnerships accelerate, Washington is growing concerned that the UAE and other Middle Eastern countries will serve as a conduit for advanced US AI technology to reach China.
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