UMC reports mixed financial results amid market challenges

Pure-play foundry United Microelectronics (UMC) has reported a revenue of NT$17.55 billion (US$541.1 million) for June 2024, marking a 10.5% sequential decline and a 7.9% decrease YoY. Despite this monthly dip, UMC’s revenue for Q2 2024 reached NT$56.8 billion, representing a 4% increase from the previous quarter. The revenue for the first half of this year totaled NT$111.43 billion, showing a modest 0.8% increase from the previous year.

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Vietnam reportedly misses billions of investments due to insufficient subsidies

Vietnam’s cautious approach to offering investment incentives may have cost the country billions of dollars in potential economic benefits and development. According to reports from Reuters and Vietnamnet, citing an official document from Vietnam’s Ministry of Planning and Investment, major tech companies like Intel and LG Chem bypassed Vietnam for their multi-billion dollar projects due to insufficient investment incentives.

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