Vietnam has gathered the conditions to be ready to welcome and cooperate with businesses and investors from all over the world in the field of semiconductor industry. Especially building an attractive and favorable business environment with many incentives for high-tech enterprises.
Accordingly, at the 8th Session, the National Assembly will vote to pass the Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership (PPP) model and the Law on Bidding. This is considered one of the opportunities to continue attracting investment resources in the field of science and technology; especially for a number of projects in the fields of innovation; semiconductor integrated circuit industry, high technology, integrated electronic microcircuits, chips...
Member of the Party Central Committee, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam is promoting the development of the semiconductor industrial ecosystem. Up to now, Vietnam has attracted many large investors in this field such as: Cadence, Synosyps, Qorvo, Siemens, Marvell, ARM...
The Ministry of Planning and Investment agrees with the views of many experts that the global chip race is heating up and Vietnam has a special opportunity to assert itself as one of the countries participating in the semiconductor industry value chain. This is an opportunity that brings unprecedented potential for socio-economic growth, but time is of the essence.
In the Draft Law amending and supplementing a number of articles of the Law on Planning, the Law on Investment, the Law on Investment under the public-private partnership model and the Law on Bidding, the Drafting Agency proposed to supplement regulations on special investment procedures for a number of projects in the fields of innovation; semiconductor integrated circuit industry, high technology, integrated electronic microcircuits, chips... when investing in industrial parks, export processing zones, high-tech zones and functional areas in economic zones, helping Vietnam to take advantage of opportunities opening up for the high-tech industry.
Minister of Planning and Investment Nguyen Chi Dung said: Enterprises investing in high technology (according to Decision No. 38/2020/QD-TTg) when investing in industrial parks, export processing zones, and high-tech zones do not have to go through administrative procedures as usual, instead, enterprises only need to register for investment, within 15 days the management agency must issue an investment registration.
“The investment attraction policy is designed to strongly shift the mindset from pre-control to post-control. When investing, businesses do not have to go through procedures related to construction, environment, fire prevention and fighting... Instead, businesses only need to commit to complying with Vietnam's regulations (norms, standards) to meet the requirements" - Minister Nguyen Chi Dung said.
