Vietnam commits to reducing taxes and bringing other benefits to semiconductor companies, helping to develop this industry as the country plays an increasingly important role amidst US-China tensions.
Vietnam’s Minister of Science and Technology stated that the national chip plan will include funding through the science fund and joint research activities of the state with private companies.
Vietnam lacks high-skilled personnel in the chip manufacturing industry.
In addition, many giant companies such as Nvidia, Samsung are looking to expand their chip business operations in Vietnam, and the country is also attracting dozens of companies in the semiconductor field. Jose Fernandez – Deputy Minister of Foreign Affairs of the US – believes that many other US companies will invest if Vietnam has enough renewable energy to meet green targets.
Meanwhile, Huynh Thanh Dat – Minister of Science and Technology of Vietnam – said the country needs to achieve technology transfer agreements in the chip field. He did not specify the tax incentives according to the plan, but said Vietnam will relax policies to bring foreign experts into the workforce.
Vietnam aims to train 50,000 engineers for the chip manufacturing industry by 2030. The country has a solid foundation in science and technology education, but the lack of advanced technologies has limited the wider development of the electronics supply chain.
“Vietnam’s semiconductor industry has a low localization rate, and research and development activities are not synchronized. And the high-quality human resources in the semiconductor field are still limited,” the Minister of Science and Technology of Vietnam commented on the challenges as the country ramps up chip production investment.
In the near future, Vietnam is expected to receive millions of dollars from the US SCIENCE and CHIPS Act, as well as the location of the largest assembly and testing factory worldwide for Intel. The US Deputy Secretary of State shared that this will be a symbol of trust. The exact amount in USD will be reported and evaluated in this month.
According to Nikkei Asia
