Promoting cooperation and investment in Vietnam's semiconductor industry

The workshop attracted a large number of businesses and experts to participate online and in person. (Photo: Tat Dat/VNA)

On March 24, the Vietnam Trade Office in Singapore in collaboration with the Singapore Semiconductor Industry Association (SSIA) organized a workshop (combining online and in-person formats) to introduce the potential, advantages, and development strategies of the semiconductor industry in Vietnam.

The conference attracted the participation of many investors and partners in the semiconductor industry such as the International Semiconductor Industry Group, Qualcomm Chip Company, Marvell Group...

Speaking at the opening of the workshop, Vietnamese Ambassador to Singapore Tran Phuoc Anh said the Vietnamese Government has identified semiconductors as one of the key industries of the national economy.

In 2024, the Prime Minister issued the Strategy for developing Vietnam's semiconductor industry to 2030, with a vision to 2050.

The strategy has three phases, of which phase 1 (2024-2030), Vietnam aims to become a global center for semiconductor human resources and establish basic capabilities in research, design, production, packaging and testing. The semiconductor industry's revenue is expected to exceed 25 billion USD per year, with added value reaching 10-15%.

According to Ambassador Tran Phuoc Anh, Singapore is an experienced and advanced country in the electronics and semiconductor industry. The two countries still have a lot of potential and opportunities for cooperation in this field. Through the workshop, Singaporean and Vietnamese businesses will understand each other better and can build effective cooperation programs that suit the capabilities and needs of both sides.

Speaking at the conference, SSIA CEO Ang Wee Seng said that the Singapore semiconductor ecosystem currently contributes nearly 12% of the global semiconductor market and accounts for about 8% of Singapore's GDP. Cross-border collaboration will be the key to unlocking further growth opportunities and Vietnam is an emerging country in the semiconductor industry with a semiconductor market size of more than US$18 billion in 2024 and expected to increase to more than US$31 billion by 2029.

Vietnam is rapidly emerging as a key destination for investments in innovation, manufacturing and semiconductors, supported by strong government commitments, an improved business environment and Vietnam’s strategic positioning in the regional supply chain.

Vietnam is attracting growing interest across the entire semiconductor value chain, from design to assembly, testing and packaging.

Vietnam's booming electronics and technology manufacturing sectors, especially in the automotive sector including electric vehicles, consumer electronics and telecommunications, are driving demand for semiconductors.

These trends align with Singapore’s focus areas, offering huge potential for collaboration. A key driver of this growth is talent. Developing a skilled workforce and visionary leadership is essential to sustain innovation.

According to SSIA, electronics and semiconductors have now become pillars in countries' industrial development strategies and policies, including research programs (energy, biotechnology and healthcare, robotics); development and innovation programs (AI centers, data; automation; remote device control; security; large-scale autonomous transport systems in cities; aerospace; green construction) and infrastructure construction programs.

The government will focus on education and training, encourage development, build technology centers...

Research and development (R&D) efforts include funding from government and key financial and industrial partners; diversification of industrial companies, development of startups.

Speakers speaking at the event. (Photo: Tat Dat/VNA)

Regarding the development orientation of the semiconductor industry in the coming time, Mr. Cao Xuan Thang, Vietnam Trade Counselor in Singapore, and representatives of enterprises attending the workshop said that Vietnamese enterprises should focus on the following specific solutions: training high-quality human resources in the field of semiconductor engineering, focusing on research and development of new generation electronic devices integrating specialized chips and AI chips; investing in building supply chains, building relationships with suppliers of raw materials, components and equipment; strengthening international cooperation and attracting investment from large semiconductor corporations in the world, thereby learning from experience in developing and transferring advanced technology; promoting investment in technology infrastructure to meet the goals of the industry's development strategy; gradually building brands and developing the domestic market.

Mr. Cao Xuan Thang said that the Vietnam Trade Office plans to organize a delegation of investors and semiconductor industry partners in Singapore to Vietnam in the near future to promote investment in this field./.

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