Hanoi (VNA) – Vietnam will become a reliable partnerand a crucial link in the global semiconductor value chain in the foreseeablefuture, Minister of Planning and Investment Nguyen Chi Dung told Vietnam NewsAgency in a recent interview.

Dung said the VietnameseGovernment has been working to create the best conditions to welcome investorsin the semiconductor industry, adding that Vietnam has all the necessary conditions and factors for developing the industry, including political stability, favourablegeographical location, investment incentives, abundant human resources andincreasingly developed digital infrastructure.

He informed that many technological giants worldwide, namely Google, Meta, Siemensand Hitachi, have cooperated with the National Innovation Centre (NIC) tolaunch various activities in support of firms in digital transformation and human resource training. 

The Ministry of Planning and Investment (MPI)is steering the NIC in conducting agreed-upon cooperation activities with existingpartners while exploring opportunities with leading global partners in eightkey sectors to establish operations at NIC's facilities, particularly in HoaLac Hi-Tech Park, thereby fuelling growth based on new drivers like digital economy, sci-tech, innovation,and emerging domains such as semiconductor, renewable energy andhydrogen, he said. 

The increasing presence and expansion ofmajor electronic and semiconductor corporations in Vietnam, such as Intel,Samsung, Synopsys, Qualcomm, Infineon and Amkor, are clear evidence ofVietnam's key and increasingly important role in the global semiconductorsupply chain. 

However, Minister Dung also pointed out challenges such as high invest🎉ment, intensecompetition from global powerhouses like China, the US and Europe; increasing𝄹complexity of semiconductor technology that requires significantinvestment in research and development to stay competitive. In particular, the personnel shortage is an issue.

To addressthese challenges, he revealed that the Government has tasked the MPI, incollaboration with the Ministry of Information and Communications, the Ministryof Education and Training, and other relevant agencies, with devising acomprehensive human resources development plan for the semiconductor industry.The objective is to train 50,000 skilled workers by 2030,including 15,000 integrated circuit design engineers and 35,000 engineersacross various disciplines.

Asound financial mechanism is also needed to meet the industry's funding requirements, according to the minister.

He added that the National Assembly has adopted a resolution, mandating the Governmentto draft a decree for establishing an investment support fund for high-techindustries, including semiconductors, slated for issuance by mid-2024.

Additionally, the VietnameseGovernment has approved the eighth National Power Development Plan andestablished a State Steering Committee for key energy projects to provide them with stable electricity, particularly those in hi-tech andsemiconductor industries. The Government will also work to accelerate landclearance and ensure clean land for industrial parks, economic zones andhigh-tech zones, thus improving the competitiveness of semiconductor projects,he added./.