Industrial real estate benefits from booming semiconductor sector
Driven by the surging demand for semiconductor manufacturing and assembly, companies are actively seeking factories and industrial parks with necessary infrastructure and services, according to Thomas Rooney, Senior Manager of Industrial Services at Savills Vietnam.
Overview of Tam Duong SHI Industrial Park (Photo: VNA)
HCM City (VNA) – Driven by the surging demand for semiconductor manufacturing and assembl🐎y, companies are actively seeking factories and industrial parks with necessary infrastructure and services, according to Thomas Rooney, Senior Manager of Industrial Services at Savills Vietnam.
Stable power supply, high-speed internet, and an efficient water treatment system are top priorities for these firms, Rooney explained.
He said Vietnam is strategically located in Southeast Asia, easily accessing major regional markets. Additionally, the country boasts favourable natural conditions with abundant rare earth, a critical raw material in the semiconductor production. Political stability and various investment incentives also make it an attractive destination for foreign firms.
Rooney anticipated that the growing wave of semiconductor investment will significantly boost the development of industrial real estate in northern Vietnam, known for high-value projects producing computers, electronics, and electrical products.
By the end of 2024, the Vietnamese semiconductor industry is expected to surpass 6.16 billion USD, solidifying the country's position as a crucial manufacturing hub for leading global semiconductor manufacturers, he said.
Citing projections from the US Semiconductor Industry Association (SIA), he noted that the global semiconductor market is poised for significant growth, reaching an estimated 600 billion USD by 2025, up 14% against 2023.
To attract capital to semiconductors and industrial real estate, he suggested that localities and businesses refine mechanisms, policies, infrastructure, and human resources to best meet the stringent demand of this sector./.
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