(VOVWORLD) -Vietnam has proved its significant and growing foothold in the semiconductor value chain across ASEAN in recent years, said an article published on Thursday on the news site of Tractus, a business strategy consulting and operations management firm.
It said the semiconductor market is projected to surge from 17.24 billion USD in 2023 to 26.20 billion USD by 2027. Vietnam mirrors this growth, particularly in its electrical equipment exports to the United States, which have skyrocketed since 2018.
With a large working-age population and relatively low cost of living, Vietnam boasts a competitive labor cost advantage. Recognizing this potential, the Vietnamese government is actively promoting computer science education, aiming to cultivate 50,000 semiconductor engineers by 2030, according to the article.
Vietnam’s strategic location, cost advantages, and burgeoning electronics industry position it as a rising star in the global semiconductor landscape. With government support, technological advancements, and increasing foreign and domestic investments, Vietnam is poised to play a vital role in the future of this critical industry, the article concluded.