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Vietnam – new stop for semiconductor producers

Samsung Electronics’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry.
Vietnam – new stop for semiconductor producers ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – Samsung Electronics’ planto manufacture semiconductor products in Vietnam has sparked the hope that theSoutheast Asian nation will be a new stop for the semiconductor industry.

During his recent trip to Vietnam, CEO Roh Tae-Moon unveiledthat Samsung will make an additional investment of 3.3 billion USD in the country this year, enablingthe Korean technology giant to start producing semiconductor components in Vietnamby July 2023.

In fact, part of the investment commitment has beenmaterialised, with 841 million USD for Samsung Complex HCMC-SEHC in Ho Chi MinhCity and 1.18 billion USD for Samsung Electro-Mechanics in the northernprovince of Thai Nguyen.

Since 2019, the tech giant has announced that itwill raise investment in the semiconductor industry to a whopping 151 billion USD.

When Vice Chairman Lee Jae-yong visited Vietnam in 2020,host leaders expressed their wish that Samsung will invest in the semiconductorsector in Vietnam, along with mobile phones and home appliances.
Vietnam – new stop for semiconductor producers ảnh 2Vietnam – new stop for semiconductor producers (Photo: baoxaydung)
Prime Minister Pham Minh Chinh also reiterated thewish during his reception for Roh earlier this month.

US-based semiconductor chip maker Intel Corporationhas also poured 1 billion USD in an assembly and testing facility inVietnam, and plans to expand its investment in the country.

Its CEO Patrick Gelsinger told PM Chinh in Hanoilast May that Vietnam is an attractive destination for investors thanks to itsdynamic economy, high potential and numerous cooperation chances in the areas ofIntel’s strengths such as manufacturing, research and development.

Therefore, Intel decided to scale up its investmentby multiple times, he affirmed.

Along with Samsung and Intel, other investors havealso planned to produce semiconductor components in Vietnam, like Amkor andHana Micron, both from the RoK./.
VNA
#Samsung Electronics #semiconductor industry #Intel #Prime Minister Pham Minh Chinh #Vietnam #VietnamPlus #Vietnam news
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