By participating in the global semiconductor market, Vietnam will have opportunities worth billions of US dollars. It is forecast that in 2024, Vietnam’s semiconductor industry will exceed US$6.16 billion in value. The semiconductor sector in Vietnam is emerging as a destination for many semiconductor manufacturers, particularly attracting the attention and presence of major global players such as Intel and Samsung with projects worth hundreds of millions to billions of US dollars.

Deputy Minister of Science and Technology Nguyen Hoang Giang stated that numerous major investors from developed countries are ready to invest in Vietnam’s semiconductor chip industry. Chip production consists of design, fabrication, packaging and testing. Vietnam is performing well in the packaging and testing stage, or more precisely, in the semiconductor packaging and testing support industry. On implementing the strategy to promote the semiconductor industry, the Ministry of Science and Technology will have scientific and technological programs and related tasks regarding semiconductor chips. Through research, the ministry will provide recommendations to the Government on which areas of the industry Vietnam should focus based on its resources and practicality, aiming for the shortest, fastest and most successful development. Therefore, these scientific and technological tasks need to be implemented early to yield quick results, Giang said.

Dam Bach Duong, Head of the Ministry of Science and Technology’s Department of High Technology, said the Government, ministries and sectors are highly interested in semiconductor chip industry development, and research capability and human resources are crucial to develop this industry. Since 2010, semiconductor chips have been included in the list of national products by the Prime Minister, but this policy has not yet been fully realized. The Ministry of Science and Technology is implementing semiconductor chip research, design and fabrication tasks.

At a recent conference reviewing a cooperative program between the Ministry of Science and Technology and the Ministry of National Defense, a representative from Viettel stated that his corporation has a project related to semiconductor chips and requested cooperation from the Ministry of Science and Technology. The Ministry of Science and Technology will work with Viettel to develop and propose special policies to facilitate the semiconductor chip industry. This is a special and specific industry, so not conventional but special policies will be needed to develop it, Duong said.

The Government has assigned ministries and sectors to research consistent, practical policies, creating the best conditions for enterprises, organizations and individuals to participate in the research, fabrication, development and production of semiconductor chips.

Source: Vietnam Economic News