AsemconnectVietnam - Recently, Prime Minister Pham Minh Chinh signed a decision to promulgate the Strategy for the development of Vietnam's semiconductor industry to 2030 and vision to 2050, thereby helping to expand opportunities for Vietnamese enterprises.

The strategy is divided into 3 phases with specific goals. In particular, from phase 1 (2024-2030), many ambitious goals are set such as selectively attracting FDI investment, forming at least 100 design enterprises, 1 small-scale semiconductor chip manufacturing factory and 10 semiconductor product packaging and testing factories; revenue scale reaches over 25 billion USD/year, added value from 10-15%; revenue scale of electronics industry in Vietnam reaches over 225 billion USD/year, added value reaches 10-15%.
To achieve these goals, the Government has proposed many solutions and tasks for ministries and branches such as building the highest incentive mechanism to selectively attract foreign investment projects with high technology content; establishing an Investment Support Fund to minimize the impact of global minimum income tax; establishing a green lane mechanism and other mechanisms to facilitate supporting enterprises, enterprises importing and exporting goods, materials, etc.
In reality, Vietnam has great potential to become one of the important links in the global semiconductor supply chain thanks to its favorable geographical location, young human resources and strong support policies from the Government.
However, the semiconductor industry is a field that requires high technology and large investment while most enterprises in the supporting industry are small and medium-sized, so it will be difficult to mobilize enough resources and need time to research and develop solutions to develop the semiconductor industry suitable for the domestic environment, while also facing fierce competition with enterprises in countries with strong semiconductor industries. Therefore, domestic enterprises need to take advantage of every opportunity to access technology, develop ecosystems and improve competitiveness in the international market. Along with that, it is necessary to strengthen cooperation with domestic and international partners, strongly develop infrastructure, helping Vietnam become an attractive destination for international investors in the semiconductor field.
CK
Source: VITIC/congthuong.vn