In an announcement on Monday, Panjit said the acquisition aims to expand product lines and introduce automotive-grade power semiconductor packaging and testing production lines, further strengthening its footprint in AI, automotive, power supply, and green energy sectors.

The investment follows the signing of an MoU between Panjit and Torex Semiconductor in February.

Amid rising geopolitical uncertainties and ongoing restructuring of the global supply chain, the investment in Torex Vietnam reinforces Panjit’s manufacturing base in Southeast Asia, enhances production agility and supply chain resilience, and further elevates its global competitiveness, according to the release.

Established in 2008, Torex Vietnam is located in the Vietnam-Singapore Industrial Park II (VSIP II) in the southern industrial province of Binh Duong, now part of Ho Chi Minh City.

The facility focuses on semiconductor component packaging and testing services, including IC packaging and testing, and employs patented ultra-small package (USP) technology.

At a meeting with leaders of the Global Semiconductor Alliance (SEMI) early this month, Prime Minister Pham Minh Chinh said Vietnam aims to have its first semiconductor manufacturing plant by 2026, underscoring the country’s ambition to establish itself in the global chip supply chain.

The country has issued a national semiconductor industry development strategy to 2030, with a vision to 2050, along with a national human resources development program for semiconductors and a list of 11 strategic technologies and products, including chips.

Vietnam is now home to more than 50 chip design firms employing an estimated 7,000 engineers. Around 15 companies with some 6,600 engineers and over 10,000 technicians are engaged in chip packaging, testing, and production of semiconductor equipment and materials, according to the Ministry of Industry and Trade.

As of August 2025, the country had around 170 FDI projects in the semiconductor and high-tech sectors, with total registered capital of nearly $11.6 billion.