According to the Semiconductor Industry Association (SEMI), the industry’s revenue has reached around $300 billion since 2000. By 2022, this figure had increased to $520 billion and is expected to exceed $600 billion in 2024 and reach around $1 trillion by 2030.
SEMI also forecasts that Vietnam's semiconductor market is expected to reach 7.01 billion USD by 2028, with an average annual industry growth rate of about 6.69% in the period 2023 - 2028.
To turn this forecast into reality, in recent times, Vietnam has had many revolutionary policies on development strategy, human resources, etc. to take the lead in this industry.
In particular, the Government has submitted to the National Assembly for consideration special policies for the high-tech industry, including semiconductors. Enterprises investing in industrial parks and export processing zones in Vietnam do not need to apply for a license, they only need to register their investment and within 15 days will be granted an investment registration certificate.
Pre-inspection procedures, which are cumbersome, time-consuming and costly for businesses, including construction, environment, and fire prevention and fighting, will be transferred to post-inspection to create the most favorable conditions for businesses...
However, the semiconductor industry in Vietnam is still facing many difficulties and limitations such as infrastructure, especially infrastructure related to the semiconductor industry, which is not yet synchronized.
Vietnam’s high-quality workforce in this industry is still limited. We aim to train 50,000 semiconductor engineers. But whether the training meets market demand and the specific requirements of corporations is still a question mark.
The policy for large corporations to see stable, long-term opportunities when doing business in Vietnam in this field is not uniform, only concentrated in Hanoi and recently Da Nang...
The semiconductor industry is a real race for Vietnam and many countries in the region. Vietnam's opportunities in the semiconductor industry come with challenges, but conversely, challenges will also create opportunities for us if we can overcome difficulties and limitations soon.
Finally, if Vietnam wants to build a semiconductor ecosystem that is self-sufficient and develops sustainably as its goal, then in parallel with welcoming the "wave" of foreign investment, we also need to have preferential and favorable policies to support and encourage domestic enterprises to participate in the semiconductor industry!
