Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, has presented a series of proposals aimed at advancing collaboration in the semiconductor sector during discussions with John Neuffer, Vice President of the US Semiconductor Industry Association (SIA).
Speaking alongside the 13th WTO Ministerial Conference in the United Arab Emirates in late February, Minister Dien underscored Vietnam’s strong interest in the semiconductor industry and its aspiration to engage with associations and enterprises for knowledge and expertise exchange in the field. The ultimate objective is to deeply integrate into the global semiconductor supply chain.
“In pursuit of this vision, Vietnam seeks support from the SIA to forge connections with markets, technologies, and financial resources, and to initiate collaborative ventures with US firms, laying the groundwork for policies promoting semiconductor industry development,” stated Minister Dien.
Established in 1977, the SIA is a trade organization representing the semiconductor industry, a pivotal export sector of the United States, crucial to the country’s economic vitality, national security, and global competitiveness.
The SIA comprises a network of member companies contributing to up to 99% of the semiconductor industry’s revenue in the United States, with two-thirds consisting of foreign semiconductor firms. Recently, the SIA has actively advocated for increased cooperation to foster Vietnam’s semiconductor ecosystem development.
Concurrently, Vietnam currently boasts approximately 6,000 engineers employed in the semiconductor industry, with a goal of training 50,000 high-caliber engineers by 2030, with a focus on chip design engineers.
Vietnam has been cultivating its domestic electronics sector and attracting a growing number of major electronics manufacturers, providing a direct market for the semiconductor industry.
Vietnam has established the National Innovation Centre (NIC) and three high-tech parks in Ho Chi Minh City, Hoa Lac, and Danang, poised to welcome semiconductor investors with preferential incentives. The NIC and high-tech parks serve as critical facilitators in nurturing Vietnam’s semiconductor industry ecosystem.
In December 2023, Prime Minister Pham Minh Chinh held discussions with Neuffer from the SIA and other leaders from US semiconductor corporations, such as Intel Corporation, Qualcomm, Ampere, and Arm, during their visit to Vietnam.
Neuffer remarked, “The US is facing a shortage of high-caliber semiconductor talent, and even amid the Covid-19 pandemic, Vietnam emerged as the most attractive destination for our semiconductor industry investors, and can now assume a strategic role in supplying semiconductor talent.”