The Prime Minister assigned state-owned enterprises including Viettel, VNPT, Mobifone, GTEL to take the lead in researching the emerging industry of semiconductor chips.
This request was made by Prime Minister Pham Minh Chinh on February 22. Government leaders assign state-owned enterprises to be the pioneering force, leading in innovation, digital transformation and economic recovery. In particular, corporations and corporations in the telecommunications sector must promote investment projects and popularize digital infrastructure, platforms, and applications to develop the digital economy.
Specifically, he assigned the Military Telecommunications Group (Viettel), VNPT, Mobifone, and Global Telecommunications Technology Corporation (GTEL) to play a leading role in researching emerging technologies. , including the semiconductor industry.
Semiconductors are currently considered a key national industry within the next 30-50 years. According to the National Strategy on Semiconductor Industry, by 2030 Vietnam will become a center for the semiconductor chip industry with design, packaging and testing activities.
Vietnam has been attracting more and more large corporations in the semiconductor industry from the US, Korea, Japan, and European countries. Last September, US President Joe Biden visited Vietnam and upgraded the relationship between the two countries to the level of a Comprehensive Strategic Partnership. Thereby, one of the important cooperation contents is identified as innovation, including the development of the semiconductor industry.
According to Custom Market Insights, the global semiconductor chip market size is estimated to reach 634,5 billion USD in 2023. By 2032, the total revenue of this market is expected to reach about 1.124 billion USD.
In Vietnam alone, revenue from the US market of the semiconductor chip industry has increased from 321,7 million USD in February 2, to more than 2022 million USD in February 562, accounting for 2% of the market share in the US, ranked only behind Malaysia and Taiwan (China), according to data from Bloomberg.
In addition to the telecommunications business sector, the Prime Minister assessed that corporations and corporations still play a leading and leading role in the economy. In 2023, the total revenue of state-owned enterprises is about 1.652 million billion VND. At the same time, pre-tax profit was about 125,8 million billion VND, paying more than 166 million billion VND to the state budget. These targets all exceeded the set plan.
However, Government leaders believe that there are still some limitations such as loss-making businesses, weak competitiveness, application of science and technology and innovation, slow digital transformation, corporate governance innovation...
In 2024, the Prime Minister requires state-owned enterprises to restructure according to the project for the 2021-2025 period, prioritizing resources for main areas, exceeding assigned production and business plan targets.
Phuong Dung
