Can MoUs help India in the semicon race?

India recently signed an MoU with Singapore for developing its semiconductor ecosystem. Earlier, it signed similar pacts with the US, the EU, and Japan. What does signing of such MoUs signify and do they have any bearing on the companies which finally have to decide on investments?

India-Singapore semiconductor partnership

The memorandum of understanding (MOU) between India and Singapore assumes significance as India aims to establish itself as a global node for semiconductor manufacturing, driven by strong domestic demand in electronics, electric vehicles and manufacturing.