Deputy Minister of Information and Communications Nguyen Huy Dung said that he will accelerate Vietnam's participation in the regional semiconductor ecosystem, attracting global semiconductor businesses to be present, produce, and conduct research and development in Vietnam.
The Vietnam-US cooperation relationship has been upgraded to a Comprehensive Strategic Partnership, creating expectations and momentum for breakthrough developments in bilateral relations in the coming time, especially in the field of technology cooperation. The results of cooperation in the field of digital technology between Vietnam and the United States after Prime Minister Pham Minh Chinh's visit to the US are expected by both sides. VietNamNet introduces articles on this topic.
Vietnam is considered a potential destination.
At the seminar on Cooperation and promoting the development of the semiconductor industry innovation ecosystem in Vietnam and Southeast Asia on September 29, experts said that the semiconductor industry has an impact on promoting and shifting the economic structure and especially helping to upgrade the entire industry of a country in terms of productivity and innovation capacity.
According to the Semiconductor Industry Association, the total global revenue of the semiconductor industry in 2022 will reach 601 billion USD, contributing 5.9% of global GDP. With the current level of development and digitalization, the semiconductor industry is forecast to grow at a rate of 6 to 8% per year until 2030 and reach a revenue of 1,400 billion USD in 2029.
Experts say that with its geopolitical advantages, economic openness, human resources as well as the initial foundation of the semiconductor industry that has been built over the past 20 years, Vietnam is being evaluated as a potential and competitive destination to participate more deeply in the global supply chain. It is necessary to take advantage of opportunities, effectively exploit its strengths, achieve the goal of national digital transformation by 2025, with a vision to 2030, in which the semiconductor industry must be the driving force of digital transformation, helping Vietnam become a digital, stable and prosperous country, pioneering in testing new technologies and models.
Mr. Hoang Hung Hai, Product Marketing Director of Qualcomm Vietnam, said that in the electronics industry, there are waves of production shifting to Vietnam. Many customers come to Qualcomm and announce that they are moving their factories to Vietnam and they need support and suggestions to find suitable partners and locations. In the next 3 years, many manufacturers will move to Vietnam. They will bring processes and technology from other places, helping Vietnam accelerate the process of digital transformation.
Ms. Linda Tan, President of the Southeast Asia Semiconductor Industry Association, emphasized that Vietnam's semiconductor industry is on the rise, with many potentials and advantages. Vietnam has been attracting more and more large corporations in the semiconductor industry from Korea, the US... Notably, in early September 2023, US President Joe Biden visited Vietnam and together announced the upgrading of the relationship between the two countries to a comprehensive strategic level, as well as, in the joint statement of the two countries, cooperation in innovation and development of the semiconductor industry are the most important contents.
Vietnam will have policies to promote semiconductor industry.
Minister of Planning and Investment Nguyen Chi Dung said that just two weeks after US President Joe Biden's official visit to Vietnam, it showed the growing interest of businesses and investors in developing the semiconductor industry supply chain in Vietnam.
To realize Vietnam's policy of proactively participating in the Fourth Industrial Revolution, Vietnam has identified high-tech fields, especially the semiconductor industry, as one of the breakthrough fields, an opportunity for Vietnamese enterprises to participate more deeply in the global value chain.
Mr. Nguyen Chi Dung emphasized that Vietnam has a lot of potential and opportunities to develop the semiconductor industry ecosystem. Firstly, Vietnam has all the necessary conditions and factors to develop the semiconductor industry. Vietnam has a stable political system, favorable geographical location, the Vietnamese Government, especially Prime Minister Pham Minh Chinh, is very interested in promoting investment cooperation and developing the semiconductor industry in Vietnam. Accordingly, the Ministry of Planning and Investment, the Ministry of Information and Communications, ministries and branches have been assigned to develop action plans and strategies to develop this industry in Vietnam, as well as develop a human resource development project with the goal of forming a team of about 50,000 engineers and experts for the semiconductor industry by 2030.
"Investment projects in the semiconductor industry in the high-tech sector are entitled to the highest incentives within the framework of Vietnamese law." -Second, Vietnam has an abundant labor force in the field of engineering and technology suitable for the semiconductor industry; there are prestigious research and training units in the semiconductor field such as Hanoi and Ho Chi Minh National Universities, Hanoi University of Science and Technology... Large enterprises have resources and are ready to cooperate in developing the semiconductor industry such as Viettel, VNPT, FPT, CMC.
Third, Vietnam has been attracting more and more large corporations in the semiconductor industry from the US, South Korea, Taiwan (China),...
Mr. Nguyen Chi Dung affirmed that Vietnam has been building many attractive investment incentive mechanisms for semiconductor companies and corporations. Accordingly, semiconductor investment projects in the high-tech sector are entitled to the highest incentives within the framework of Vietnamese law.
“The Vietnamese government is well aware that Vietnam needs to build a favorable and attractive business environment for leading semiconductor corporations, as well as reasonable investment policies, provide necessary utilities, and facilitate research and development in the semiconductor sector,” said Mr. Nguyen Chi Dung.
Sharing about this issue, Deputy Minister of Information and Communications Nguyen Huy Dung said that Vietnam has been drafting a Strategy for Semiconductor Industry Development to 2030 and a vision to 2035. The Strategy will set out the vision, affirm the determination, goals, roadmap, tasks, solutions as well as special preferential policies of Vietnam to develop the electronics industry in general and the semiconductor industry in particular.
The key task is to accelerate Vietnam's participation in the regional semiconductor ecosystem, attracting global semiconductor enterprises to be present and conduct production and research and development in Vietnam. In particular, Vietnam will have preferential mechanisms and State support for the semiconductor industry.
Deputy Minister of Information and Communications Nguyen Huy Dung said that Vietnam will have preferential mechanisms and state support for the semiconductor industry.
Continuing to share about this issue, Mr. Nguyen Thien Nghia, Deputy Director in charge of the Department of Information and Communications Technology (Ministry of Information and Communications) said: Vietnam ranks 10th in exporting electronic products and ranks 6th among processing countries, contributing greatly to the ICT industry. Vietnam also has many talented people in this field. Vietnam is ready to do processing for countries in the region and other countries, such as the US, Europe, Japan. With the results achieved up to now, along with the technology infrastructure, we can have a successful electronics industry.
“Vietnam also has tax incentives such as: No income tax for the first 4 years, export tax incentives of 0%, VAT exemption for software products and information technology services. Besides, there are other incentives such as land rent. These incentives are very useful to attract foreign investors,” said Mr. Nguyen Thien Nghia.
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