Vietnam’s Minister of Planning and Investment, Nguyen Chi Dung, envisions a future where Vietnam becomes an integral and reliable partner in the global semiconductor value chain. In a recent interview, Dung highlighted the Vietnamese government’s efforts to create a favorable environment for semiconductor investors, emphasizing the country’s political stability, strategic geographical location, investment incentives, skilled workforce, and advanced digital infrastructure as key factors for development.
While discussing Vietnam’s collaborations with technological giants such as Google, Meta, Siemens, and Hitachi through the National Innovation Centre (NIC), Minister Dung stressed the importance of digital transformation and human resource training in fostering growth. The Ministry of Planning and Investment is actively fostering cooperation with existing partners and exploring opportunities in key sectors to attract leading global players to establish operations in the country’s hi-tech parks, particularly the Hoa Lac Hi-Tech Park.
Minister Dung acknowledged the challenges Vietnam faces in the semiconductor industry, including high investment costs and intense competition from established global players like China, the US, and Europe. The ever-increasing complexity of semiconductor technology also demands significant investment in research and development to remain competitive. Additionally, the shortage of skilled personnel is a concern that needs to be addressed.
To confront these challenges head-on, the Vietnamese Government has tasked relevant agencies with devising a comprehensive human resources development plan for the semiconductor industry. The aim is to train 50,000 skilled workers, including 15,000 integrated circuit design engineers and 35,000 engineers across various disciplines, by 2030.
Financial mechanisms are also being put in place to meet the industry’s funding needs. A resolution has been adopted, mandating the government to draft a decree for establishing an investment support fund for high-tech industries, including semiconductors, to be issued by mid-2024.
Moreover, the Vietnamese Government has approved the eighth National Power Development Plan and established a State Steering Committee for key energy projects to ensure a stable electricity supply, particularly for hi-tech and semiconductor industries. Efforts are also being made to expedite land clearance and ensure clean land for industrial parks, economic zones, and high-tech zones, in order to enhance the competitiveness of semiconductor projects.
With its determination, favorable conditions, and strategic initiatives, Vietnam is poised to make significant strides towards becoming a global semiconductor powerhouse and a sought-after destination for semiconductor investments.
FAQ Section:
Q: What are the key factors emphasized by Vietnam’s Minister of Planning and Investment for semiconductor investment?
A: The key factors emphasized by the Minister are political stability, strategic geographical location, investment incentives, skilled workforce, and advanced digital infrastructure.
Q: Which technological giants has Vietnam collaborated with in the semiconductor industry?
A: Vietnam has collaborated with Google, Meta, Siemens, and Hitachi through the National Innovation Centre (NIC).
Q: What is the focus of Vietnam’s Ministry of Planning and Investment in fostering growth?
A: The focus is on digital transformation and human resource training.
Q: What challenges does Vietnam face in the semiconductor industry?
A: Vietnam faces challenges such as high investment costs, intense competition from global players, the increasing complexity of semiconductor technology, and a shortage of skilled personnel.
Q: What is the aim of the Vietnamese Government in terms of skilled workers for the semiconductor industry?
A: The aim is to train 50,000 skilled workers, including 15,000 integrated circuit design engineers and 35,000 engineers across various disciplines, by 2030.
Q: What financial mechanisms are being put in place to meet the semiconductor industry’s funding needs?
A: The Vietnamese Government has adopted a resolution to establish an investment support fund for high-tech industries, including semiconductors, to be issued by mid-2024.
Q: What steps has the Vietnamese Government taken to ensure a stable electricity supply for the semiconductor industry?
A: The government has approved the eighth National Power Development Plan and established a State Steering Committee for key energy projects.
Q: What efforts are being made to enhance the competitiveness of semiconductor projects in Vietnam?
A: Efforts are being made to expedite land clearance and ensure clean land for industrial parks, economic zones, and high-tech zones.
Definitions:
– Semiconductor: A material with properties between those of an insulator and a conductor, used in electronic devices.
– Digital transformation: The process of using digital technologies to create or modify business processes, customer experiences, and culture.
– Integrated circuit: A microchip that contains a complete electronic circuit.
– Research and development: The activities undertaken to innovate, develop, and improve products, services, or processes.
Suggested Related Links:
– Ministry of Planning and Investment
– Vietnam Chamber of Commerce and Industry
– Hoa Lac Hi-Tech Park
The source of the article is from the blog elblog.pl