US semiconductor manufacturers survey Vietnam opportunities

On January 12, the US Semiconductor Industry Association (SIA) arrived in Vietnam to survey opportunities to invest in the semiconductor production.

According to Deputy Prime Minister Le Minh Khai, the visit is an important starting point for the connection between the Vietnamese government and SIA, promoting the capacity to join the global supply chain of the country.

“The Vietnamese government issued many incentive and support policies to create favourable conditions for investment inflow in term of hi-tech sectors and semiconductor is a priority sector,” DPM Khai said. “Vietnam has also established high-tech centres in Hanoi, Ho Chi Minh City, and Danang with special incentive policies to connect research and development (R&D) activities and invest in hi-tech and innovation projects. Vietnam is a production hub of global groups, such as Intel, Samsung, LG, and Amkor.”

SIA president and CEO John Neuffer said the US semiconductor industry was working to re-balance the global semiconductor production chain, which combines plans to increase key chains from friendly countries.

In the context of other countries advancing fast and US semiconductor businesses seeking investment opportunities, Neuffer said he hopes to cooperate with the Vietnamese government and the country not miss this important opportunity.

He said he believes Vietnam would play an increasingly important role in the US global semiconductor chain in the coming time.

DPM Khai proposed SIA encourage its members to open R&D centres, and science-technology centres in term of the semiconductor sector in Vietnam and establish offices in the National Innovation Centre. He also expects that the association will open training courses and scholarships to improve the capacity of the labour force in this sector.

“The Vietnamese government expects that the association will consult policies to foster the country’s semiconductor production, and simultaneously help to connect Vietnam with global semiconductor producers, taking Vietnam to join deeper in the global supply chain,” Khai said.

The government has assigned the Ministry of Planning and Investment to study and build a policy for attracting foreign investment capital in the chip manufacturing. It has asked the MPI to prepare the draft policy and submit it to the government in the first quarter of 2023.

The leading 25 automotive component manufacturers from India arrive in Vietnam from August 21 to 26 to look for investment opportunities.

Global chip shortages are set to bring Vietnam a chance to develop, acquire and invest in cutting-edge technological expertise and semiconductors, according to a group of academic experts at RMIT University.

Global manufacturers are increasingly offering solutions to foster the competitiveness of the country’s supporting industries, thus creating a solid foundation for a shift in the global supply chain.

In a 10-day visit to Vietnam following his appointment, Damien Green, Manulife Asia’s president and CEO, shared his thoughts on a post-COVID recovery and why Manulife Vietnam is a key player in the company’s growth in Asia.