Global Giants Flock to Vietnam: The Race Heats Up for Chip Supremacy

Vietnam is poised to become a key hub for leading semiconductor corporations. To seize this opportunity, the country must enhance its policy framework, infrastructure, and workforce to meet the industry's high standards. 

Vietnam aims to realize its semiconductor potential within two years. In July, during the Prime Minister's official visit to South Korea, Bac Ninh's Vice Chairman granted an adjusted investment certificate to Amkor Technology Vietnam, increasing their project investment by over $1.07 billion. 

Amkor's semiconductor plant, with a $1.6 billion investment, plans to produce 3.6 billion products annually. Initially, Amkor scheduled full investment by 2035 but expedited this to 2024. Similarly, Foxconn received investment certificates for projects totaling over $633 million, including PCB production and electric vehicle components. 

Major corporations like Samsung, Qualcomm, and Infineon have also invested billions in Vietnam. This influx highlights Vietnam's growing appeal in the semiconductor sector. 

Semiconductors, essential for modern electronics, are crucial in the Fourth Industrial Revolution. With the global market projected to reach $600 billion by 2025, Vietnam's semiconductor industry is expected to exceed $6.16 billion by 2024. 

Vietnam's strategic location, stable political environment, and supportive policies make it an attractive destination for semiconductor investors. However, challenges like a shortage of skilled engineers and insufficient infrastructure remain. The government is addressing these by planning to train 50,000 industry professionals by 2030 and improving energy and internet infrastructure. 

Through collaborative efforts, Vietnam aims to become a major semiconductor production center, significantly contributing to its economic development and global supply chain integration.