US semiconductor group wants to develop billion-dollar factory in Vietnam

On the afternoon of March 20, Prime Minister Pham Minh Chinh received Mr. Karthik Rammohan, Senior Vice President of Lam Research Group (USA) and representatives of Seojin Company (Korea).

Prime Minister Pham Minh Chinh and Mr. Karthik Rammohan, Senior Vice President of Lam Research Group (USA)

Lam Research is one of the world's leading chip manufacturing tool suppliers, founded in 1980, headquartered in California, USA. The group's 2022 revenue was $19 billion and as of March 2023, Lam Research had more than 18,700 employees.

Mr. Karthik Rammohan said that Lam Research is aiming to expand its operations and diversify its supply chain in the Asian region. In Vietnam, Lam Research plans to cooperate with Seojin Company (which currently has factories in Bac Ninh and Bac Giang) to develop a factory and supply chain in phase 1 with a capital of 1-2 billion USD. After phase 1, Lam Research can invest directly and continue to expand its operations in Vietnam.

Mr. Karthik Rammohan wants to learn about investment incentive policies, initiatives, and programs that Lam Research can participate in to promote and support suppliers and the semiconductor industry supply chain ecosystem in Vietnam. For his part, Seojin representative affirmed that this is a very important project for both businesses.

Speaking at the meeting, Prime Minister Pham Minh Chinh stated that the United States and South Korea are both comprehensive strategic partners of Vietnam, in which science, technology and innovation are important areas of cooperation. In the context of global FDI continuing to shift, Vietnam wishes to attract high-quality investment capital, especially leading enterprises such as Lam Research in the fields of high technology and semiconductor industry.

Vietnam welcomes and encourages investors in this field with appropriate mechanisms, policies and specific incentives according to the provisions of law, as well as promoting the construction of modern and synchronous infrastructure. Vietnam is also training and developing 50,000-100,000 engineers for the semiconductor industry by 2030, promptly meeting the human resource needs of enterprises. On the other hand, major suppliers in the high-tech field such as Samsung, Intel, Foxconn... are present in Vietnam; many other leading corporations in the world are also continuing to explore opportunities and plan to invest in Vietnam.

In the spirit of harmonious benefits, shared risks, working together, winning together, enjoying together, and developing together, the Prime Minister hopes that in addition to investment and production, the two corporations need to focus on research and development (R&D), technology transfer, and promoting the development of the semiconductor ecosystem in Vietnam.

The Prime Minister requested that the two corporations continue to work specifically with relevant agencies and localities to carry out tasks and procedures in accordance with the law.

PHAN THAO

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