[News] Vietnamese Semiconductor Industry Rising with Projected Investment From Global Giants

Per a report by the Vietnam News Agency, Vietnamese Prime Minister Phạm Minh Chính recently signed Government Decree No. 791/QĐ-TTg on the establishment of the National Steering Committee for Semiconductor Industry Development.

The main tasks and functions of the steering committee include assisting the Prime Minister and the government in researching, guiding, and coordinating the resolution of important and cross-departmental matters related to promoting the development of Vietnam’s semiconductor industry; researching, consulting, and advising on directions and solutions to promote the industry’s growth; and guiding the coordination among various departments, government agencies, relevant organizations, and entities to vigorously advance the development of Vietnam’s semiconductor industry.

Semiconductor industry is one of the strategically important global industries, and it undoubtedly represents a significant development opportunity for Vietnam.

It is reported that the semiconductor, as one of Vietnam’s nine national-level products, has been included in the country’s key development priorities for the next 30 to 50 years.

According to its National Semiconductor Industry Strategy, Vietnam aims to become a global center for semiconductor chip design, packaging, and testing by 2030.

To achieve this goal, the Vietnamese government has introduced a series of preferential policies and incentives to encourage foreign enterprises to invest in the country.

Moreover, the government has established the National Innovation Center (NIC) to create a high-tech ecosystem and beef up the training of professionals to meet the needs of developing semiconductor industry.

Currently, Vietnam has drawn in investment from foreign enterprises such as Intel, ASE Group, Samsung Electronics, Amkor, Qualcomm, ONSemi, Renesas, Texas Instruments, NXP, Marvell, Synopsys, Hana, and Anpei. In fact, with global capital investment, Vietnam’s semiconductor industry ecosystem is gradually taking shape in recent years.

Vietnam’s Minister of Planning and Investment Nguyễn Chí Dũng stated that Vietnam boasts some conditions and factors conducive to the development of semiconductor industry, involving a stable political system, a favorable geographical location, and attractive investment incentive policies.

The Vietnamese government has been committed to developing semiconductor industry and hopes to attract more and more large enterprises to invest in Vietnam.

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(Photo credit: Intel)