Developing the semiconductor industry in Vietnam (Part 5): Getting ready to welcome the investment wave

Along with training human resources and building a semiconductor-microchip ecosystem, Vietnam is actively preparing infrastructure and other conditions to welcome the wave of investment in the semiconductor industry.

Minister of Planning and Investment Nguyen Chi Dung. Photo: An Dang - VNA

Speaking at the seminar “Infrastructure readiness for the semiconductor industry in Vietnam” in Hanoi on December 7, Minister of Planning and Investment Nguyen Chi Dung said that in order to implement the content of cooperation in developing the semiconductor industry in the Vietnam-US Joint Statement, Vietnam has recently actively prepared conditions to be ready to welcome and cooperate with US businesses and investors in the semiconductor industry supply chain.

According to Minister Nguyen Chi Dung, Vietnam has completed the one-stop mechanism and built a project to develop human resources in the semiconductor industry by 2030 with the goal of training 30,000 semiconductor engineers, establishing the National Innovation Center (NIC) in Hoa Lac to be ready to receive semiconductor investment projects with the most preferential policies.

Previously, since 2019, Vietnam has laid the foundation for NIC by establishing high-tech parks in Hanoi, Ho Chi Minh City and Hai Phong, thereby consolidating its position as an important semiconductor industrial center. In October 2023, NIC located in Hoa Lac High-Tech Park was officially launched with an investment of 41.7 million USD. NIC and three high-tech parks in major cities will be an important bridge to support the development of Vietnam's semiconductor industry ecosystem.

“Vietnam is ready in terms of infrastructure and necessary conditions to receive investment projects from US semiconductor enterprises,” Minister Nguyen Chi Dung affirmed.

In addition, Vietnam has had quite specific orientations, goals and actions, consistently building important initial foundations for the semiconductor industry and is now a country with a dynamic innovation ecosystem thanks to the rapid development of the digital economy and the strong growth of the high-tech sector.

Minister Nguyen Chi Dung said: “The Vietnamese Government is perfecting the most favorable and attractive business environment for investors, enterprises, research institutes, and training facilities in the semiconductor industry. Accordingly, investment projects in the semiconductor industry in the high-tech sector are entitled to the highest incentives within the framework of Vietnamese law.”

Not only at the central level, many local authorities such as Ho Chi Minh City and Bac Ninh province have proactively prepared to welcome a new wave of investment in this field.

According to Mr. Nguyen Anh Thi, Head of the Ho Chi Minh City Industrial Park Management Board, for the semiconductor industry, Ho Chi Minh City has a relatively seamless ecosystem, possesses highly qualified human resources, and has a culture of innovation. Since the beginning of 2002, Ho Chi Minh City has identified human resources as extremely important. Therefore, the city has cooperated with Synosys to build a semiconductor training center, while promoting human resource training in Vietnam in general and Ho Chi Minh City in particular.

Meanwhile, Mr. Vuong Quoc Tuan, Standing Vice Chairman of Bac Ninh Provincial People's Committee, said that Bac Ninh identified this as an opportunity to seize and best prepare for receiving foreign capital. In the semiconductor sector, in terms of industrial park infrastructure, Bac Ninh is the area with the largest industrial infrastructure in the North to become a center for research and innovation transfer. Currently, Bac Ninh has a policy to support 50% of tuition fees for students in the high-tech sector.

Secretary of Bac Ninh Provincial Party Committee Nguyen Anh Tuan received and worked with SIA Chairman Mr. John Neuffer. Photo: Thanh Thuong - VNA

Previously, at a working session with Mr. John Neuffer, Chairman of the Semiconductor Industry Association (SIA) on October 27, Secretary of the Bac Ninh Provincial Party Committee Nguyen Anh Tuan said that Bac Ninh is currently focusing on attracting investment in the field of semiconductor and chip manufacturing.

Secretary Nguyen Anh Tuan also expressed his hope that SIA would work with the province to build a high-tech ecosystem for the North in Bac Ninh, especially in semiconductor and chip manufacturing, support the province in training high-quality human resources for the semiconductor industry, connect with member corporations and enterprises to increase investment and expand investment in Vietnam, thereby contributing to the development of the semiconductor industry, promoting economic restructuring towards industrialization, taking the development of high technology, modern technology, and digital technology as the foundation for growth.

The Secretary of the Bac Ninh Provincial Party Committee pledged to create the best conditions for US investors to come and learn about and invest in Bac Ninh and is ready to accompany and remove all difficulties and obstacles for mutual development.

Despite having the smallest area in the country, Bac Ninh has a particularly important position and role in the Northern key economic region. The whole province currently has 16 industrial parks with 24 investment projects to build and develop industrial park infrastructure. To date, Bac Ninh province has granted investment registration certificates to more than 2,000 valid projects with a total capital of 24.672 billion USD, notably including projects of Amkor and Micro Commercial Components. This is the initial foundation for the formation of a semiconductor ecosystem in this province./.

Khanh Linh