Elevating the Semiconductor Industry: Affirming Position in the Digital Age

The semiconductor industry is becoming a crucial pillar of Vietnam's digital economy, with the government actively attracting investment from foreign enterprises.

Strong Development Potential

With its key role in the digital economy, the semiconductor industry is solidifying its importance in the context of the Fourth Industrial Revolution. Semiconductor products are widely applied across various fields, creating a trend that requires countries to enhance their capabilities and diversify supply chains.

Vietnam holds geopolitical advantages and human resources in the semiconductor sector. With an estimated 20 million tons of rare earth reserves, Vietnam ranks second in the world for this resource, following China. Furthermore, the government has approved a human resource development program for the semiconductor industry, aiming to train at least 50,000 university-level professionals by 2030.

Increasing Investment Sources

Currently, Vietnam is attracting significant interest from leading corporations in the semiconductor industry. In 2024, the value of the semiconductor industry is projected to exceed $6.16 billion, positioning Vietnam as one of the important chip manufacturing hubs in the world.

Sustainable Development Strategy

On September 21, 2024, the Prime Minister issued a strategy for developing Vietnam's semiconductor industry through 2030, with a vision for 2050. The goal is to selectively attract investment, and establish at least 100 chip design companies, one small-scale chip manufacturing plant, and 10 packaging plants.

Vietnam is actively facilitating the entry of foreign high-tech enterprises into the semiconductor industry, aiming to improve product quality and expand access to modern technology, striving for a leading position as a semiconductor manufacturing center in the region.

Source: Information and Communication Magazine