Today, May 28, as part of the 30th Future of Asia Conference, Deputy Prime Minister Nguyen Chi Dung received Mr. Higashi Tetsuro, Chairman of Rapidus Group.
During the meeting, the Deputy Prime Minister stated that Vietnam identifies science and technology, innovation, and digital transformation as key breakthroughs, playing a pivotal role in the economic restructuring process, establishing a new growth model, and aiming for a high-income developed country by 2045.
To materialize this vision, Vietnam has issued the Semiconductor Industry Development Strategy, established the National Steering Committee for Semiconductor Industry Development, and is synchronously implementing multiple solutions to develop the semiconductor ecosystem.
According to Statista Market Insights data, Vietnam’s semiconductor market revenue is projected to reach US$31.39 billion by 2029, with a compound annual growth rate (CAGR) of 11.48% during 2024-2029.
Vietnam aims to become a leading hub for the semiconductor industry in the region and globally. By 2050, the country targets semiconductor industry revenue of over US$100 billion per year, with a value addition of 20-25% in Vietnam.
Deputy Prime Minister Nguyen Chi Dung visits Rapidus’ factory – Photo: VGP/Thu Sa
Deputy Prime Minister Nguyen Chi Dung assessed that the present time presents opportune conditions for Vietnam and Rapidus to strengthen strategic cooperation, mutually sharing potentials, complementing strengths, and supporting each other.
In that spirit, the Deputy Prime Minister proposed that Rapidus closely coordinate with the Vietnamese government and domestic partners to train high-quality engineers for the semiconductor industry and facilitate the exchange of Vietnamese engineers to study and work at Rapidus’ factories and partners within the supply chain.
“Rapidus may consider establishing a human resource training center in Vietnam,” suggested the Deputy Prime Minister, alluding to the Semiconductor Industry Human Resource Development Program, particularly providing training programs and scholarships for students and researchers, as well as internships for Vietnamese students.
Moreover, Deputy Prime Minister Nguyen Chi Dung also proposed that Rapidus expand its research and development and business production activities in Vietnam, to take advantage of the country’s preferential policies in the semiconductor sector and contribute to the development of Vietnam’s technology ecosystem. He also invited Rapidus to advise the Vietnamese government on breakthrough mechanisms and policies to promote the domestic semiconductor industry.
Representing Rapidus, Mr. Higashi Tetsuro expressed the group’s readiness to engage in human resource training and pledged to work with the Vietnam-Japan University to research and propose mechanisms to realize the Deputy Prime Minister’s suggestions.
Rapidus Group, a Japanese conglomerate founded in 2022, is backed by eight leading Japanese corporations: Toyota Motor, Sony Group, SoftBank, Denso, NTT, Kioxia Holdings, NEC, and Mitsubishi UFJ Bank. The group’s name, derived from the Latin word for “swift,” reflects its mission to restore Japan’s prominence in the semiconductor industry.
Presently, Rapidus is channeling its resources into designing, developing, and manufacturing high-performance logic chips for critical sectors such as artificial intelligence (AI), supercomputing, and smart automotive.
The group’s first factory, located in Hokkaido, Japan, will commence trial production in 2025 and transition to mass production from 2027. By the 2030s, the company aims to initiate chip production for design companies and chip users, marking a strategic move to reposition national semiconductor capabilities and deepen engagement in the global technology supply chain.
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