Vietnam welcomes semiconductor investments
Industry leaders like Samsung, Intel, and Foxconn have already set foot in Vietnam, with numerous global firms considering future investments
Vietnam’s Prime Minister, Phạm Minh Chính, in a statement encouraged hi-tech and semiconductor investments in the country by offering incentives and infrastructure provisions. PM Chính emphasized the significance of sci-tech and innovation in Vietnam’s strategic partnerships with the US and Republic of Korea. He also mentioned their goal to train 50,000-100,000 engineers by 2030 to fulfil business needs of the sector.
The statement was delivered during a reception in Hanoi, where Lam Research, a US semiconductor company, and South Korea’s Seojin announced their partnership to establish a $1-2 billion semiconductor plant in Vietnam. Karthik Rammohan, Group VP of Global Operations at Lam Research, foregrounded the need for mutual growth of both the companies through R&D and technology transfer. In addition, he expressed keen admiration in Vietnam’s policies and programs aimed at bolstering the domestic semiconductor supply chain.
Vietnam appears to be a promising destination for semiconductor companies seeking to establish and diversify their production facilities in Asia. Industry leaders like Samsung, Intel, and Foxconn have already set foot in Vietnam, with numerous global firms considering future investments.
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