Focusing on the "readiness" factor waiting for foreign investors in the high-tech field

Vietnam focuses on attracting foreign investment in the fields of technology, semiconductor electronics...

Responding to the press about the fact that many large-scale foreign technology corporations have visited and worked in Vietnam recently, at the regular Government press conference on the afternoon of May 4, Deputy Minister of Planning and Investment Do Thanh Trung clearly stating that attracting investment and the investment ability of large technology corporations is one of the three breakthroughs that the Party's resolution identified right from the beginning of the term. Therefore, Vietnam has tried very hard to mobilize and attract foreign investment, especially in the fields of technology and semiconductor electronics...

After Apple CEO Tim Cook's visit to Vietnam, Apple announced a record investment plan of US $250 million in Singapore.

Therefore, responding to the fact that foreign investors do not "stop" in Vietnam, Deputy Minister of Planning and Investment Do Thanh Trung said that foreign businesses not only invest in Vietnam but also invest in many other countries. so it is normal for them to invest in Vietnam or invest in other countries.

According to the Deputy Minister, investment by foreign corporations and businesses depends on many factors, including three main factors.

First, objective factors include factors such as the geopolitical and economic situation in the world, the region and Vietnam, investment trends and global supply chain shifts, and security issues.

Second, subjective factors from businesses and investors, this factor depends on the investment strategy, investment and development goals, and assessment of the suitability of each locality and region, deployment resources…

Third, factors related to Vietnam's readiness to attract large technology corporations in the world, including institutions, infrastructure, and human resources. With the three factors mentioned above, according to Deputy Minister Do Thanh Trung, Vietnam needs to focus on factors related to readiness.

Accordingly, Vietnam is increasingly improving its legal system, mechanisms and policies to improve the investment and business environment. In particular, Vietnam has been building many attractive investment incentive mechanisms for technology companies and corporations, including the electronic semiconductor industry, chips... Semiconductor industry investment projects belongs to the high-tech field, receiving the highest incentives within the framework of Vietnamese law.

Regarding to infrastructure, Vietnam ensures infrastructure including road transport, waterway, aviation, infrastructure related to production in these industries such as electricity... all are invested equally. Recently, Power Plan VIII was also approved by the Prime Minister, ensuring priority for stable power supply for investment projects and moving towards sustainable energy development.

Paralle with that, Vietnam has also focused on developing high-tech parks, especially the National Innovation Center to create an outstanding environment and institutions, creating the best conditions for corporations. Foreign investors invest and produce in Vietnam.

Regarding human resources, Vietnam has an abundant workforce in the field of engineering and technology suitable for the semiconductor industry. Besides, there are agencies with training and research capacity, prestigious universities... such as Viettel, VNPT, FPT, CMC... carrying out the tasks assigned by the Government, the Ministry of Planning and Investment is building a project to develop Developing human resources for the semiconductor industry, ensuring the supply of 50,000 high-quality human resources for the semiconductor industry by 2030.

Vietnam has a favorable geographical location for foreign investors, the Vietnamese Government is highly determined to pursue and develop the semiconductor and chip industry. Vietnam is building a Strategy to develop the semiconductor industry and provide maximum support for foreign investors, especially the United States, to invest and do business in the semiconductor industry supply chain in Vietnam.

With the above actions, the Deputy Minister of Planning and Investment stated that Vietnam has been attracting more and more large technology corporations. In the semiconductor industry, more and more large corporations from Japan, Korea, Taiwan and especially US corporations are investing and cooperating specifically in Vietnam, typically: Intel, Amkor in the field of packaging, testing; Marvell, Qorvo, Qualcomm in design; Synopsys, Cadence in providing chip design tools...

Recently, leaders of NVIDIA Corporation have continuously visited Vietnam and committed to cooperation in artificial intelligence (AI) and semiconductors. Accordingly, improving cooperation capabilities includes building super computing centers in Vietnam, training AI and semiconductor industry human resources, and developing an ecosystem for research, development and AI startups.