Vietnam is currently one of the fastest growing digital economies in Southeast Asia, with a strategic geopolitical position and an abundant young, tech-savvy workforce.

These are important premises for Vietnam to attract more and more large technology corporations in the world, especially in the high-tech industry.

In a recent sharing, Ms. Mariam Sherman, World Bank Country Director for Vietnam, Laos, and Cambodia, commented that Vietnam has emerged as one of the region's major manufacturing centers with global technology corporations continuously expanding cooperation and establishing production facilities in Vietnam.

According to a World Bank representative, this shows Vietnam's readiness to become an Asian technology hub, thereby creating quality jobs and promoting economic growth.

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Ms. Mariam Sherman, World Bank Country Director for Vietnam, Laos, Cambodia. Photo: TD

Sharing more perspectives, Ms. Mariam Sherman said that Vietnam's semiconductor industry is on a promising development path and will make an increasingly important contribution to the global semiconductor industry.

“ Vietnam has great ambitions through its national semiconductor strategy. Vietnam’s impressive economic development achievements are a testament to the fact that what we thought was impossible has become a reality ,” said Mariam Sherman.

According to the World Bank expert, four important factors that will impact the success of Vietnam's semiconductor strategy are trade integration, clean energy production, knowledge dissemination, and high-quality human resource development.

By integrating with global partners, Vietnam can soon realize its goals in the semiconductor industry.

The semiconductor industry is a technology and knowledge-deficient industry. Vietnam needs to have active policies to promote knowledge transfer in industries that are far from the technological frontier such as semiconductors, while at the same time improving the domestic knowledge absorption capacity and promoting the training of high-quality human resources.

“ The US Silicon Valley is where the digital revolution is taking shape. There, entrepreneurs are constantly introducing new knowledge and technology. Universities in the region are also constantly providing talent. This is a model that Vietnam can learn from, ” said a World Bank representative.

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A product of the semiconductor industry manufactured in Vietnam. Photo: TD

According to the World Bank, Vietnam has a solid foundation to achieve its semiconductor goals in its national strategy, which is a young population, high-quality education, and a workforce well-trained in STEM subjects.

Vietnam currently has an urgent need and potential to develop highly qualified human resources capable of innovation and creativity with a broad professional background.

With a solid foundation from general education, the next step Vietnam needs to take is to invest in higher education to create high-quality human resources in the future.

This is how Vietnam can transform itself from a manufacturing hub into a high-tech hub of the world.

Mr. Clack Tseng, Vice President and Head of Market Intelligence of the Semiconductor Industry Association (SEMI), said that in recent years, Vietnam's GDP growth rate has often been twice as fast as the world average, which shows that Vietnam has a good foundation and momentum for development.

According to the Global Semiconductor Association, the development of artificial intelligence will become a driving force for semiconductor industry consumption.

In the coming years, the growth of the semiconductor industry could reach 20%, mostly thanks to the development of memory chips and AI.

“ Over the past decade, the semiconductor industry has grown at a rate of about 7-8%. Vietnam's GDP growth is twice that of the world, so it is likely that the growth of Vietnam's semiconductor industry will also be twice that of the world. This will have an impact on promoting the development of the semiconductor ecosystem in the Southeast Asian region, ” said an expert from the Global Semiconductor Association.

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