Vietnam attracts foreign companies in semiconductor chip manufacturing

According to Nikkei Asia (Japan), Vietnam is actively promoting the chip manufacturing sector with a commitment to reduce taxes and other incentives for semiconductor manufacturing corporations to help develop this sector domestically.

Quan hệ ngoại giao mạnh mẽ sẽ là chìa khóa mở ra cơ hội cho doanh nghiệp về bán dẫn tại Việt Nam, giúp tham gia sâu vào chuỗi cung ứng bán dẫn khu vực và toàn cầu. (Nguồn: iStock)

Strong diplomatic relations will be the key to opening up opportunities for semiconductor businesses in Vietnam, helping them participate deeply in the regional and global semiconductor supply chain. (Source: iStock)

The news site quoted an interview with Vietnam’s Minister of Science and Technology Huynh Thanh Dat, saying that the national chip manufacturing program includes funding for the industry through a joint science and research fund between the state and private companies such as FPT. Corporations from Nvidia (USA) to Samsung (South Korea) are looking to increase chip production in Vietnam.

Vietnam is expected to receive millions of dollars under the US CHIPS and Science Act, and will also be home to Intel Corporation's largest global assembly and testing plant.

Nikkei Asia also quoted Jose Fernandez, US Under Secretary of State for Economic Growth, Energy and the Environment, as saying that Vietnam has attracted dozens of companies in the semiconductor sector and many other US companies will invest in Vietnam if Vietnam has enough renewable energy to meet their green goals.

Vietnam needs to reach technology transfer agreements with countries that are leading in the chip sector. The Southeast Asian country plans to relax policies to attract foreign experts, who have recently had difficulty obtaining work permits.

To achieve that goal, universities are rolling out semiconductor training courses in partnership with employers like Samsung.

Vietnam aims to train 50,000 engineers for the semiconductor industry by 2030 based on a solid foundation of science and technology education.

In an interview during his recent visit to Vietnam, US Deputy Secretary of State Fernandez shared that Vietnam is a leading candidate for subsidies under Washington’s CHIPS Act. The exact amount in USD will be calculated based on the assessment report this February.

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