(VOVWORLD) - Vietnam has the capacity to participate in the global semiconductor industry and develop the industry, according to both domestic and foreign experts at the Vietnam Business Summit 2023 in Hanoi on Friday. The event explored Vietnam’s potential to develop digital businesses, such as electronics and semiconductors.
 Vietnam is attracting FDI projects worth billions of dollars in the semiconductor industry. (Photo: congthuong.vn)
|
Data from the Southeast Asia Semiconductor Association showed that last year the global chip manufacturing industry earned nearly 602 billion USD, up 1.2%. The world semiconductor market is forecast to reach 1.4 trillion USD by 2029. That means Vietnam would likely benefit from participating in the supply chain.
Clark Tseng, Senior Director of the Market Intelligent Team at SEMI, said that Vietnam is growing rapidly in electronic assembly and investment is going to semiconductor-related areas. There has been a lot of investments from global IDM and OSAT companies like Intel, Samsung, and Amkor, he said, adding that Vietnam has a unique position and right now it is attracting investment from IC design and EDA tool companies such as Marvel.
“So I think the ecosystem will gradually develop from backend assembly, and now we’re seeing IC design coming in. I think in the near future we’ll probably see some front end activity in semiconductor fabrication,” said Tseng.
 Clark Tseng speaks at the Vietnam Business Summit 2023 in Hanoi on September 29, 2023. (Photo: NIC) |
Tseng insisted, “So Vietnam provides a very good environment in terms of location and workforce. Vietnam has a large number of young educated engineers who can support the growth of the semiconductor industry. On top of that, there's a very supportive government policy and incentive program that can attract foreign investment.”
Businesses at the event shared plans for investment cooperation in Vietnam, and strategies to collaborate with the National Innovation Center (NIC) in developing a training, incubation, and research center for semiconductors.
The collaboration will focus on various stages of chip production, particularly chip design and product development.
The annual event was jointly organized by the Ministry of Planning and Investment, the Ministry of Information and Communications, and SEMI Southeast Asia (SEMI SEA), in collaboration with NIC.