Illustrative photo (Photo: cafef.vn) Hanoi (VNA) – Vietnam is seeing greatopportunities to turn the semiconductor industry into a critical national one in the next 30-50 years.
Minister of Planning and Investment Nguyen Chi Dung saidthat Vietnam has advantages in developing its semiconductor industry,particularly its human resources.
Jensen Huang, President and CEO of the US chip giant Nvidia,during his recent visit to Vietnam, highly valued Vietnam's potential, greatopportunities, and clear strategy, vision and approach, as well as its focus oninfrastructure investment in semiconductors and artificial intelligence (AI),and human resources in the spheres.
He said Nvidia wishes to establish a base in Vietnam asit views the Southeast Asian nation its home.
According to the official, Vietnam has a goodeducation system and infrastructure. Once the country’s new generation entersthe AI sector and overseas Vietnamese experts return home, Vietnam will havemany more advantages.
Nvidia is willing to support Vietnam to increase capacityand infrastructure in AI.
Meanwhile, Vietnam is committed to creating favourableconditions for Nvidia to operate in Vietnam, Dung said, calling on Nvidia to boost semiconductor andAI research and projects in Vietnam.
He proposed Nvidia go together with Vietnam in buildingincubation for semiconductor enterprises and supporting it to form supportingenterprises.
Vietnam is seeing great opportunities to turn the semiconductor industry into a critical national sector in the next 30-50 years. (Photo: tapchitaichinh.vn) The global semiconductor industry revenue reached nearly600 billion USD in 2022. Global chip demand is expected to increase sharply in2024 and semiconductor chip sales are estimated to reach 1 trillion USD in 2030.
Speaking at the National Forum onDigital Enterprises Development 2023 (VFTE 2023) held early this week, Minister of Informationand Communications Nguyen Manh Hung stressed that 2024 will be thefirst year Vietnam adopts the National Strategy on Semiconductor IndustryGrowth.
"The semiconductor industry is a foundationalsector and, more importantly, a critical national industry for the next 30-50years," he said.
Developing the semiconductor industry also bringsopportunities for Vietnam to reform its electronics industry, especially when ittransitions to AI and IoT-enabled electronic devices.
Nguyen Van Khoa, CEO of FPT Corporation, said that fromthe beginning of this year, major world electronics companies have pouredinvestment into building facilities for hi-tech electronic production inVietnam.
Vietnam’s semiconductor market is expected to grow byaround 6.7% during 2023-28, reaching 1.94 billion USD. The country should focuson design, packaging and testing in the short term, production in the mediumterm, and mastering core technology in the long term, Khoa suggested./.
