Vietnam’s infrastructure ready for semiconductor industry

Illustrative image (Photo:cafef.vn)

Hanoi (VNA) – A roundtable on Vietnam’s infrastructure readiness for semiconductor industry in Vietnam was organised by the Ministry of Planning and Investment (MPI) in collaboration with the National Innovation Centre (NIC) and the US Semiconductor Industry Association (SIA) in Hanoi on December 7.

Addressing the event, Minister Nguyen Chi Dung said to implement cooperation for developing the semiconductor industry as outlined in the joint statement between Vietnam and the US, Vietnam has focused on perfecting the one-stop-shop mechanism, building a plan for developing human resources until 2030, and establishing NIC in the Hoa Lac Hi-Tech Park in Hanoi.

Vietnam is ready to cooperate with foreign companies in investment cooperation projects in the semiconductor field with the most preferential treatments, he said.

Participants at the roundtable on Vietnam’s infrastructure readiness for semiconductor industry (Photo: VNA)

Dung said he believes that SIA and its member businesses will receive a lot of information to soon have plans for cooperation with and investment in Vietnam.

SIA President and CEO John Neuffer briefed participants on cooperation activities between the US and Vietnam to promote the semiconductor industry, saying that SIA member companies have had significant investments in Vietnam, including Intel, Marvell, Synopsys, Qualcomm, Ampere, Infineon, and others.

Many businesses have doubled their investment in the country, he said, noting that this demonstrates Vietnam's increasingly growing role in the global semiconductor supply chain.

Vietnam has incredible opportunities to establish its hallmark in the global semiconductor supply chain, he stressed.

The country has established specific directions, goals, and actions, creating a coherent foundation for the semiconductor industry. It is seen as a country with a dynamic and innovative ecosystem thanks to the rapid development of its digital economy and strong growth in the high-tech industry.

Vietnam has asserted itself as a new economic growth centre in Asia with a robust position in the global supply chain as it consistently attracts investment from multinational corporations.

Deputy Minister of Education and Training Nguyen Van Phuc said that Vietnam has abundant human resources, with the number of students studying STEM (Science, Technology, Engineering, and Mathematics) method accounting for one-third and increasing about 10% in the last three years.

Vietnam has strengths in training mathematics and chemistry, a good foundation for developing remaining industries such as semiconductor and information technology.

He expressed his hope that US firms will cooperate closely with and support Vietnamese universities to build training programmes, and establishe laboratories.