 Vietnam is determined to promote semiconductor industry |
Amid the global trend of diversifying supply chains and evolving geopolitical dynamics, Vietnam is increasingly positioning itself as an attractive destination for semiconductor industry investors, boasting its numerous advantages – strong political commitment, a favorable investment climate, a skilled workforce, and the world's second-largest rare earth reserves.
Vietnam has also established comprehensive strategic partnerships with nations leading semiconductor technology, further enhancing its appeal as a key player in the global semiconductor ecosystem.
Strategic vision and roadmap
Vietnam has taken several actions to create a robust ecosystem for semiconductor development and foreign investment attraction. Key initiatives include the Vietnam Semiconductor Industry Development Strategy to 2030 with a vision to 2050 and the Semiconductor Industry Human Resource Development Program to 2030, with a vision to 2050. Vietnam hosts 174 FDI projects in the semiconductor industry, with a total registered capital of 11.6 billion USD. US tech giant NVIDIA recently signed an agreement on the establishment of a research and development center and an AI data center in Vietnam.
Aware that the semiconductor industry demands significant capital investment, advanced technological capabilities, and a highly skilled workforce, Vietnam has created a clear, methodical roadmap.
Prime Minister Pham Minh Chinh told the National Steering Committee on Semiconductor Industry Development: “Our determination must translate into specific, focused scientific actions to complete every task. Only then can we achieve socio-economic development driven by science, technology, and innovation, with the semiconductor industry as a key priority.”
To support these goals, Vietnam has channeled resources into mechanisms, policies, infrastructure, and high-quality human resources. By 2030, Vietnam aims to train at least 5,000 engineers specialized in artificial intelligence and provide in-depth training to 1,300 lecturers from research institutes, universities, training centers, and enterprises.
Nguyen Thi Le Quyen, a representative of the National Innovation Center under the Ministry of Planning and Investment, said: “The development of the semiconductor industry must align with advancements of the ecosystem of fundamental and specialized sciences and with Vietnam’s roadmap. Collaboration among the State, academic institutions, and enterprises is essential, alongside diversifying training resources. In the initial phase, priority must be given to training lecturers and transformational teams.”
International cooperation enhanced to promote semiconductor industry
In addition to promoting policy reforms, infrastructure development, and a skilled workforce for the semiconductor industry, Vietnam has also strengthened international cooperation in this field.
Do Nam Trung, Deputy Director of the Department of Information and Communications Industry of the Ministry of Information and Communications, said: "Vietnam is determined to engage in all stages of the semiconductor supply chain, guided by a clear roadmap. By leveraging the global trend of restructuring the semiconductor industry under the ‘plus one’ model, Vietnam aims to become a pivotal ‘plus one’ destination—fostering participation from other countries and organizations in the supply chain while attracting investment from the world's leading semiconductor enterprises."
Vietnam’s strong commitment has garnered optimism from international partners and leading semiconductor enterprises, who recognize the country’s potential and express readiness to collaborate.
Ms. Mariam Sherman, Director of the World Bank in Vietnam, noted: "Although still in the early stages of development, Vietnam's semiconductor sector is on promising trajectory, having established itself a key player in the global supply chains. By 2023, semiconductor revenues reached an impressive 20.1 billion USD, making Vietnam the 3rd largest exporter of semiconductor to the US. Global tech giants like Samsung, Intel, and Apple have already established significant operations in Vietnam. Other global technology leaders such as Nvidia, Meta, and Google are accelerating their engagement, signaling the country's readiness to take its place as a high-tech hub in Asia."
With the government’s strong determination, targeted solutions, and clear roadmap, Vietnam is seizing opportunities to rapidly and robustly develop its semiconductor industry in order to enter a new era where technology is a cornerstone of socio-economic growth.