Taipei, June 3 -- Taiwan Semiconductor Manufacturing Co (TSMC) Chairman and CEO CC Wei stated on Tuesday confirmed that the company has no plans to establish a manufacturing plant in the Middle East, specifically dismissing rumors about building a chip foundry in the United Arab Emirates (UAE), as reported by Focus Taiwan.

This comes after reports surfaced about TSMC engaging in discussions with White House officials and UAE's state-owned investment firm MGX regarding a potential fabrication plant in the UAE.

Speaking at TSMC's annual shareholders' meeting, Wei, attending in his capacity as chairman for the first time, directly addressed the shareholders and said that TSMC will focus on regions with strong customer demand, prioritizing ...