The country plans to develop the industry in three phases. — VNA/VNS
HANOI: Prime Minister Pham Minh Chinh has signed a decision issuing the strategy for developing Vietnam’s semiconductor industry by 2030, with a vision to 2050.
Accordingly, three distinct phases will be planned, with clear targets and specific numbers, including hundreds of new companies, to develop the country’s semi conductor industry.
The development map was signed by Pham last Saturday with a new strategy for developing Vietnam’s semiconductor industry by 2030, with a vision to 2050.
The strategy outlines a roadmap for developing the industry according to the formula of C = SET + 1 (chip = specialised electronics talent + Vietnam), which will strive to become a new and safe destination of the global semiconductor supply chain).
The country plans to develop the industry in three phases.
In the first period, from 2024 to 2030, it will use geopolitical and workforce advantages, selectively attract foreign direct investment (FDI), establish itself as one of the global semiconductor manpower centres, and grow fundamental capacity in all steps, from research, design, and manufacturing to packaging and testing.
In the second from 2030 to 2040, Vietnam will work to become a global semiconductor and electronics centre while developing the semiconductor and electronics industries that combine both self-reliance and FDI.
For the third phase from 2040 to 2050, Vietnam is aiming to become one of the world’s leaders in the semiconductor and electronics industries and master research and development (R&D) in these fields.
Identifying concrete targets for each period, in Phase 1, the country will selectively attract FDI, form at least a hundred design companies, one small-scaled manufacturing factory and 10 packaging and testing plants, and develop some specialised semiconductor products for several sectors.
The semiconductor industry hopes to secure annual revenue of more than US$25bil and an added value growth rate of 10% to 15%.
Meanwhile, the electronics industry targets over US$225bil in annual revenues and 10% to 15% in added value growth.
The semiconductor workforce will include more than 50,000 engineers and graduates to meet development demand during 2024 to 2030.
In Phase 2, Vietnam will develop a semiconductor industry combining both self-reliance and FDI, with at least 200 design companies, two manufacturing factories and 15 packaging and testing plants and gradually ensure self-sufficiency of design and production technologies for specialised semiconductor products.
It targets respective annual revenues of over US$50bil and US$485bil for the semiconductor and electronics industries, which are expected to record an added value growth rate of 15% to 20%.
Meanwhile, more than 100,000 semiconductor engineers and graduates will be ready to work during the period 2030 to 2040.
In Phase 3, there will be at least 300 design companies, three manufacturing factories and 20 packaging and testing plants.
The country is also set to master semiconductor R&D.
The semiconductor and electronics industries are expected to post respective annual revenues of more than US$100bil and US$1.045 trillion, as well as a growth rate of 20% to 25% in added value.
At that time, the semiconductor workforce will feature an appropriate structure and numbers meeting development demand.
Vietnam will complete a self-reliant semiconductor industry ecosystem taking the lead in some steps and segments of the production chain during 2040 to 2050, according to the strategy.
To that end, five major tasks with detailed implementation measures are also specified. — Viet Nam News/ANN
