VGP – Phones and electronic parts accounted for over US$40 billion of Viet Nam’s export revenue in the first eight months of this year.
Numerous worldwide experts think that Viet Nam can become the world’s hub for chip manufacturing, particularly in light of the fact that numerous important technology companies have declared intentions to increase semiconductor component production in the nation.
Viet Nam is now ranked 9th in the world for exporting electrical goods. With an investment of US$1.5 billion, it is the location of Intel’s largest assembly and testing facility. About 70% of Intel’s entire global production is produced in this plant.
According to Kim Huat Ooi, Vice President of Intel Products Viet Nam Co., Ltd., “the three primary criteria for us to manufacture in Vietnam is the very stable socio-political climate, the Government’s continual growth of free trade agreements, and an abundant labor force.”
Other well-known electronic companies that have manufacturing and R&D facilities in Vietnam include Samsung, LG, and Apple in addition to Intel. Samsung recently revealed intentions to start manufacturing semiconductors in July of next year with an extra $920 million in funding.
Countries in the supply chain, like Viet Nam, may take advantage of the potential to participate and expand in the present global setting, where the U.S. has just approved the CHIP Act worth US52 billion to help this country’s chip manufacturing business.
Experts claim that in order to obtain agreements on cooperation in supporting technology transfer, Viet Nam has to talk with nations like the United States, Japan, and the Republic of Korea.
Viet Nam can then progress toward total autonomy of crucial phases of the semiconductor production process, starting a new chapter for the nation’s supporting technology.