Answering reporters’ questions about how many global conglomerates came to Vietnam to conduct investment surveys but then built factories in other countries, the Deputy Minister of Planning and Investment Do Thanh Trung stated that in reality, these businesses invest not only in Vietnam but in various other countries as well. Thus, their arrival in Vietnam, their investments in Vietnam, and their investments in other countries are all considered normal.
Investment from conglomerates hinges on multiple factors, including Vietnam’s readiness to attract these groups.
According to Mr. Do Thanh Trung, Vietnam focuses on three key factors: institutions, infrastructure, and human resources, all of which are areas in which the Government has issued very strong directives on how to improve Vietnam’s readiness.
Deputy Minister of Planning and Investment Do Thanh Trung
“In terms of institutions, Vietnam has made positive steps forward by constantly improving its legal policies, policy mechanisms, and the business investment environment. Currently, we are researching a specific incentive mechanism to attract conglomerates and companies, especially in the technology sector, as well as in the semiconductor, electronics, and chip industries… These industries are now being offered the best incentives. Furthermore, the Government is also researching and supplementing this with other suitable incentives,” shared Mr. Trung.
In terms of infrastructure, Vietnam endeavors to optimally ensure a complete transportation infrastructure system alongside production-supporting infrastructure, such as electricity. In parallel, efforts focus on developing high-tech industrial parks and the national innovation center to create an environment and facilitate superior institutions, all of which aim to provide the greatest ease of access for conglomerates looking to invest in and produce in Vietnam.
With regard to human resources, Vietnam has been and continues to develop specific programs. In addition to units and agencies with proven training and research capabilities, such as universities, major companies, and conglomerates,  the Government and the Prime Minister have assigned the Ministry of Planning and Investment with the task of submitting a proposal for a training program to prepare 50,000 engineers for the semiconductor industry.
In particular, according to Deputy Minister of Planning and Investment Do Thanh Trung, in addition to the aforementioned efforts, global technology conglomerates and businesses highly value the Government’s determination in its pursuit of electronic, chip, and semiconductor industry development.
Mr. Trung stated: “Thus far, we have achieved many favorable results. In addition to US investors, numerous other investors from countries such as South Korea, Taiwan, and Japan have also invested in specific projects. For example, projects related to inspection and packaging by Intel and Amkor, a project related to Marvell and Qualcomm’s design, or a project to provide our semiconductor chip design tools being undertaken by conglomerates like Cadence, and Synopsys…”.
Most recently, executives from the NVIDIA Group visited Vietnam and pledged their commitment to collaborating in the field of semiconductors and, as a result, could potentially establish a supercomputing center in Vietnam to train AI personnel for the semiconductor industry. On May 3rd, Samsung, in collaboration with the Vietnam National University in Hanoi, organized an electronics microchip design training course for more than 250 lead engineers.
Deputy Minister Do Thanh Trung confidently stated that the efforts of the Government and its agencies, combined with the industry development strategy and proposal development, as well as the perfection of institutions, infrastructure, and human resources, in addition to the implementation of specific actions through investment attraction and human resource development, will produce even more visible results in the near future.
