Vietnam welcomes more semiconductor enterprises, Source: freepik.com

Last week, SemiExpo Vietnam debuted at the National Innovation Center (NIC) in Hanoi. The event attracted over 5,000 shows and featured 100 booths from major semiconductor players, including Cadence, Qualcomm, Intel, and Qorvo.

This landmark event, Vietnam’s first and largest international semiconductor showcase, was organised by the Ministry of Planning and Investment (MPI) with support from the NIC and the Global Semiconductor Association. SemiExpo highlights Vietnam’s commitment to joining the global semiconductor value chain, a sector considered the heart of modern technology and a foundation for the digital economy.

Addressing the event, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam is ready to welcome and collaborate with global semiconductor enterprises and investors.

“Vietnam has a stable political environment and strong commitment from our Party and state leaders to foster innovation and advance high-tech industries,” Minister Dung said. “With a population of over 100 million, the country has a youthful, ambitious workforce skilled in science, technology, and STEM disciplines, ideal for developing advanced technology. We also have a robust industrial ecosystem with participation from high-tech partners and enterprises.”

He underscored a new decree establishing an investment support fund aimed at semiconductor assisting firms in workforce training, asset investment, and high-tech product manufacturing, raising Vietnam’s profile globally.

The Semiconductor Industry Association and the NIC announced collaborative efforts with have industry partners to accelerate semiconductor development in Vietnam.

“This partnership will serve as a launchpad for Vietnam’s integration into the global semiconductor sector, enabling the country to participate in multiple stages of this industry,” Minister Dung said. “This collaboration reflects the semiconductor community’s commitment to supporting Vietnam’s industry development towards a rapid and sustainable future.”

Vietnam’s government has introduced a semiconductor industry development strategy through 2030 with a vision for 2050, aiming to establish Vietnam as a global hub for semiconductor talent by 2030 and a global centre for semiconductor and electronics by 2040.

To achieve these targets, the MPI has proposed a human resources development programme to train at least 50,000 university-level semiconductor professionals and 1,300 specialised faculty by 2030, alongside establishing national and institutional labs for training.

Additionally, the MPI has directed the NIC, in cooperation with the US Department of State and Arizona State University, to launch a scheme to train over 4,000 microchip packaging and testing engineers in Vietnam by the end of 2025.

According to German online platform Statista, revenue from Vietnam’s semiconductor industry is projected to reach $18.23 billion in 2024, with an annual growth rate of 11.48 per cent over the next five years.

Explaining these growth prospects, KC Yang, who is the president for Asia at semiconductor manufacturer GlobalFoundries, said Vietnam’s strategic location is a major advantage.

“Vietnam is close to some of the world’s largest markets, including China and the rest of Southeast Asia. It sits along major shipping routes, providing easy access to European and North American markets,” Yang said. “This strengthens Vietnam’s potential in integrated circuit design, assembly, testing, and packaging, building a foundation for fulfilling its semiconductor industry vision by 2050.”