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Vietnam's Semiconductor Industry Sees Rapid Growth Amid Global Shifts

Published: 3.5.2024

Vietnam commits to reducing taxes and providing other privileges for semiconductor companies, helping to develop this field as our country plays an increasingly important role amid the tensions between the US and China.

The Minister of Science and Technology of Vietnam stated that the national chip plan will include funding through the science fund and collaborative research activities between the state and private companies.

In recent years, Vietnam's semiconductor industry has witnessed significant growth, driven by strategic investments and favorable government policies aimed at boosting the country's technological capabilities.

With the escalating tensions between the US and China, Vietnam has emerged as a key player in the global semiconductor supply chain, attracting major players like Nvidia and Samsung.

The Vietnamese government has also announced plans to train 50,000 engineers for the chip manufacturing industry by 2030, further bolstering the country's position as a leading semiconductor hub in Southeast Asia.

Moreover, Vietnam's strong foundation in science and technology education has contributed to the industry's growth, although challenges remain, such as the need to increase the localization rate and synchronize research and development activities.

Vietnam is expected to receive significant investments from the US CHIPS and Science Law, with Intel planning to establish its largest global assembly and test facility in the country. These developments signal a new era of growth and innovation for Vietnam's semiconductor industry, positioning it as a key player in the global semiconductor market.

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