An overview of the forum. (Photo: VNA) Hanoi (VNA) – Vietnam has prepared necessary conditions to attract “eagles”worldwide in the electronics and semiconductor industry, Deputy Minister of Planningand Investment Tran Duy Dong told the Vietnam Global Manufacturing Forum 2024 (VGMF2024) in Hanoi on March 26.
Dong highlightedthe country's strong infrastructure, research and development incentives, andskilled workforce as key advantages for investors.
With the global electronics and semiconductor market expectedto surpass 1 trillion USD by 2030, hesaid the Vietnamese Government and Prime Minister are directing theMinistry of Planning and Investment (MPI), relevant ministries and agencies toprepare the best conditions to welcome incoming investments.
According to the official, Vietnam is currently among the top 40 economies in the world interms of GDP with over 430 billion USD and the top 20 economies in international trade and foreigndirect investment. The nation prioritises projects in hi-tech fields like electronics,semiconductors, innovation and renewable energy. It also seeks todevelop international financial centres, modern services and trade,infrastructure, research and development.
Dong also revealed an MPI-developed human resourcedevelopment scheme specifically for the semiconductor industry. This scheme,targeting the training of 50,000 engineers by 2030, will be submitted to the PMfor approval in the near future.
The National Innovation Centre (NIC), managed by the MPI, willfocus on smart factory and urban development, digital communication,environmental technology, cybersecurity, semiconductor industry, hydrogen andhealthcare. Notably, the NIC has already secured partnerships with USchipmakers Synopsys and Garden to establish a facility dedicated to chipresearch and design.
Furthermore,the MPI is drafting a decree on an investment support fund, offering substantialfinancial assistance for hi-tech, electronics and semiconductor sectors. Thisdecree willbe submitted to the Government for issuance soon.
Tran Tuan Anh, Deputy Director of the Hanoi Industrial andExport Processing Zones Authority (HIZA), unveiled the city’s goal ofestablishing 2-5 new industrial parks by 2025 to draw more investors,especially those using modern, clean and eco-friendly technologies andproducing highly competitive products to integrate seamlessly into the global value andsupply chains./.
