Foreign investors expand chip packaging footprint in Viet Nam
Illustrative image |
The semiconductor back-end manufacturing sector, which is less capital-intensive than more strategic front-end chipmaking in foundries, but Viet Nam is among the fastest-growing countries in the US$95 billion segment.
Viet Nam's growth in the back-end segment of the chips industry has been encouraged by the Biden administration amid growing trade tensions between Washington and Beijing, which may further escalate with the second presidency of Donald Trump.
Thanks largely to the investments from foreign companies, Viet Nam is expected to have by 2032 an 8-9 percent share of global capacity in chip assembling, testing and packaging (ATP), from just 1 percent in 2022, according to a report published in May by the U.S. Semiconductor Industry Association and Boston Consulting Group.
Reuters quoted Hana Micron's Vice President for Viet Nam, Cho Hyung Rae, as saying that the company was expanding in the Southeast Asian country to meet requests from industrial clients.
The Korean company is investing about US$930.49 million until 2026 to boost packaging operations for legacy memory chips, a company official based in South Korea said.
U.S.-headquartered Amkor Technology announced last year a US$1.6 billion plan to build a 200,000 square metre (2.2 million sq. ft) factory which it said would become its most extensive and advanced facility, "delivering next-generation semiconductor packaging capabilities."
A business executive with direct knowledge of Amkor's operation in Viet Nam said some of the equipment installed in the new plant had been transferred from factories in China.
Intel, which had a large booth last week at Viet Nam's first international semiconductors exhibition near Ha Noi, has in the country its largest chips back-end factory in its global network.
Meanwhile, local companies are also expected to contribute to the sector's forecast growth.
Earlier, Viet Nam set a target of some US$25 billion a year in revenue from the semiconductor industry by 2030, according to the country's semiconductor development strategy until 2030, with a vision for 2050, issued by the Prime Minister.
The figure will soar to $50 billion a year during the 2030-40 period and US$100 billion between 2040 and 2050./.
See more news
Construction material industry's revenue to reach 47 billion USD
11:40 | 13/11/2024 Industry
Footwear industry eyes UKVFTA to bolster exports
10:00 | 11/11/2024 Industry
North-South express railway – driving force to spawn new support industries
17:09 | 08/11/2024 Support industries
Automotive support industry strives to become spare part supplier
09:34 | 08/11/2024 Support industries
Việt Nam’s auto industry strives to reach global recognition
08:58 | 08/11/2024 Industry
Vietnam’s path to sustainable semiconductor industry
10:47 | 07/11/2024 Industry
Industrial production index rises 8.3 per cent in ten months
16:30 | 06/11/2024 Industry
Efforts to bring electricity to remote villages of Ha Giang Province
15:15 | 04/11/2024 Energy
Vietnamese F&B industry works to catch up with green consumption trend
17:38 | 03/11/2024 Industry
PM calls for Qatar's support for energy development in Việt Nam
08:56 | 01/11/2024 Energy
Garment makers pin hopes on coming year-end shopping season
17:04 | 14/11/2024 Economy
Viettel launches the world’s first O-RAN 5G Network
16:59 | 14/11/2024 Science - Technology
Quảng Ninh to attract more foreign tourists by year-end
16:52 | 14/11/2024 Tourism
Seminar helps fashion businesses identify future consumers
16:47 | 14/11/2024 Culture
Ample opportunities await Vietnamese exporters in South Asia: Workshop
16:20 | 14/11/2024 Economy
Multimedia
Vietnam actively contributes to APEC
08:59 | 14/11/2024 Infographic
Vietnam’s national brand value reaches 507 billion USD in 2024
17:06 | 11/11/2024 Infographic
Vietnam-Chile Comprehensive Partnership
09:51 | 10/11/2024 Infographic
Vietnam manufacturing returns to expansion
13:31 | 09/11/2024 Infographic
Vietnam's key contributions to ACMECS
11:02 | 07/11/2024 Infographic
PM urged parliament to pass legislation to ensure sufficient electricity, restart nuclear projects
09:47 | 13/11/2024 Policy
New policy drafted to help non-bank credit institutions develop further
17:13 | 12/11/2024 Policy
Việt Nam to stiffen regulations on violating social network platforms
16:23 | 12/11/2024 Policy
Party leader of Việt Nam holds phone talks with President-elect of US
08:55 | 12/11/2024 Policy
Foreign investors expand chip packaging footprint in Viet Nam
16:17 | 14/11/2024 Industry
Construction material industry's revenue to reach 47 billion USD
11:40 | 13/11/2024 Industry
Footwear industry eyes UKVFTA to bolster exports
10:00 | 11/11/2024 Industry
North-South express railway – driving force to spawn new support industries
17:09 | 08/11/2024 Support industries
Bac Giang prioritises high-tech FDI projects, services industry
17:04 | 12/11/2024 FDI
Vietnam draws new wave of high-value investments: Savills
19:30 | 10/11/2024 Investment
Hanoi attracts 1.6 billion USD in FDI in ten months
15:18 | 07/11/2024 Investment
Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion
16:16 | 04/11/2024 Investment
UK stands ready to help Vietnam build international financial hub
17:13 | 13/11/2024 Finance-Banking
S&P affirms Techcombank’s BB- rating
10:10 | 11/11/2024 Finance-Banking
Tax sector fulfils nearly 95% of state budget collection target
15:38 | 09/11/2024 Finance-Banking
Việt Nam's stock market moves closer to emerging market status amid key policy changes
18:05 | 06/11/2024 Stock Market
Hà Nội requires comprehensive emission data to develop effective air pollution control plan
15:03 | 14/11/2024 Environment
Vietnam looks towards Net Zero goal in agriculture
17:25 | 12/11/2024 Environment
Holistic approach needed to improve glass recycling
11:31 | 12/11/2024 Environment
Storm Toraji intensifies and moves northwest in East Sea
08:58 | 12/11/2024 Environment
Viettel launches the world’s first O-RAN 5G Network
16:59 | 14/11/2024 Science - Technology
4G mobile network coverage reaches 99% of Vietnamese population: Minister
16:51 | 13/11/2024 Science - Technology
Quang Ninh to host 3rd Vietnam Int'l Digital Week next week
17:11 | 12/11/2024 Science - Technology
Việt Nam's new fast track policies to boost high-tech investment environment set for approval
09:33 | 09/11/2024 Science - Technology
Night flights added at six airports to meet rising travel demand during Tet
15:12 | 14/11/2024 Society
Vietnamese universities strive to attract international students
11:43 | 13/11/2024 Society
Social network users must authenticate accounts from December 25
17:10 | 12/11/2024 Society
Long Thanh Airport’s runways expected to be completed three months ahead of schedule
15:57 | 12/11/2024 Society
Hà Nội to host large-scale international fair for key industrial products in 2025
16:54 | 12/11/2024 Vietnamese Brands
Agriculture, craft village festival to be held in Hà Nội
16:49 | 12/11/2024 Vietnamese Brands
Vietnamese Goods Week brings vibrant showcase to Thai province
10:16 | 08/11/2024 Vietnamese Brands
Sóc Trăng’s ST25 fragrant rice awarded 5-star OCOP rating
11:05 | 07/11/2024 Vietnamese Brands
Seminar helps fashion businesses identify future consumers
16:47 | 14/11/2024 Culture
Kiên Giang to host Khmer cultural festival
16:45 | 13/11/2024 Culture
Two Vietnamese artists nominated for Grammy Awards
17:02 | 12/11/2024 Culture
Great Solidarity of Ethnic Groups Week to take place next week
09:55 | 08/11/2024 Culture
Quảng Ninh to attract more foreign tourists by year-end
16:52 | 14/11/2024 Tourism
Vietnam promotes int’l cooperation in MICE tourism development
14:47 | 14/11/2024 Tourism
2025 Nha Trang – Khanh Hoa Sea Festival to spotlight cultural heritage space
17:04 | 13/11/2024 Tourism
Việt Nam to welcome more international cruise ship tourists
16:36 | 13/11/2024 Tourism