Infrastructure readiness for the semiconductor industry in Vietnam

Creating the most favorable conditions for investors

Speaking at the seminar "Infrastructure readiness for the semiconductor industry in Vietnam," Minister of Planning and Investment Nguyen Chi Dung stated that the joint statement on upgrading the Vietnam - US relationship to a Comprehensive strategic partnership clearly affirms Vietnam's enormous potential to become a key player in the semiconductor industry. To implement the cooperative content in semiconductor industry development stated in the joint statement, Vietnam has actively prepared conditions to be ready to cooperate with US enterprises and investors in the semiconductor supply chain.

Vietnam has gradually perfected the system of policies and laws on investment and businesses to facilitate investment and business procedures for enterprises and investors. Simultaneously, it continues to improve the "one-stop" mechanism for handling procedures for investors through High-tech park management boards, industrial zones, and economic zones in localities.

Additionally, the Government has directed and assigned the Ministry of Planning and Investment to develop a Human resources development plan for the semiconductor industry, aiming to train and develop 50,000 human resources for the industry by 2030 to promptly meet the demand for human resources for semiconductor enterprises investing in Vietnam. Furthermore, the establishment of the National Innovation Center (NIC), especially the inauguration of NIC's facility at Hoa Lac Hi-Tech Park, is ready to accept investment projects and research and development in the semiconductor industry. Along with three high-tech zones in Ho Chi Minh City, Hoa Lac, and Da Nang, which are ready to welcome semiconductor investors with high preferential mechanisms.

In terms of policies, the Government has approved the Power Master Plan VIII and established the State Steering Committee for key energy projects, promoting land clearance, creating favorable conditions, and enhancing the competitiveness of semiconductor projects. Most recently, the National Assembly issued a resolution allowing the Government to promulgate a Decree establishing an investment support fund for some high-tech projects, including projects in the semiconductor industry. This decree is actively being developed and will be issued in mid-2024.

Vietnam has specific goals, directions, and actions, consistent in building essential foundations for the semiconductor industry. Illustration: Internet

Affirming Vietnam's key role in the global semiconductor supply chain

Assessing the potential of the semiconductor industry in Vietnam, John Neuffer, President of the Semiconductor Industry Association (SIA) of the US, affirmed the association's interest in Vietnam. He mentioned that SIA member companies have made significant investments in Vietnam, such as Intel, Marvell, Synopsys, Qualcomm, Ampere, and Infineon. This demonstrates Vietnam's increasingly important role in the global semiconductor supply chain, asserting that Vietnam is increasingly demonstrating its crucial role in the world's semiconductor industry and is ready to welcome foreign investors in this field.

"Vietnam has specific goals, directions, and actions, consistent in building essential foundations for the semiconductor industry and is evaluated as a country with a dynamic innovation ecosystem. Vietnam is also increasingly asserting itself as the new economic growth center of Asia with a firm position in the global supply chain, continuously attracting investments from multinational corporations. Therefore, we see excellent opportunities in Vietnam, especially when the cooperation between the two governments is strengthened, including the semiconductor industry cooperation in the coming time," emphasized John Neuffer.

According to John Neuffer, in addition to policies to attract investors in the semiconductor industry with the participation of major enterprises, small and medium-sized units are also important for Vietnam and need support to fully participate in the supply chain. This would further develop Vietnam's semiconductor industry and contribute to the global market.

As a semiconductor industry enterprise investing in Vietnam, a representative of Qualcomm also stated that the company planned to continue expanding its presence in Vietnam in developing the semiconductor industry through Qualcomm's training programs. At the same time, the importance of deploying infrastructure is recognized as crucial in developing the industry.