Vietnam incentivizes investment in hi-tech, semiconductor industries
VOV.VN - The country welcomes and encourages investment in hi-tech and semiconductor industries by offering appropriate mechanisms, incentives and modern infrastructure.
Prime Minister Pham Minh Chinh made the statement at a reception in Hanoi on March 20 for Karthik Rammohan, Group Vice President of Global Operations at Lam Research, one of the leading US semiconductor manufacturing equipment providers, and representatives of the Seojin Company of the Republic of Korea. Both firms are collaborating in semiconductor chip production in Vietnam.
Lam Research, headquartered in California, grossed US$19 billion in revenue in 2022. As of March 2023, it had employed over 18,700 employees.
Rammohan said Lam Research is looking to expand operations and diversify its supply chain in Asia. In Vietnam, the company is planning to collaborate with Seojin, which already has factories in northern Bac Ninh and Bac Giang provinces, to develop factories and establish a supply chain with an investment of US$1-2 billion in the first phase. After the first phase, it will possibly invest directly or expanding its operations in the Southeast Asian nation.
He showed interest in Vietnam's investment promotion policies and programmes that could support the development of a domestic supply chain ecosystem for the semiconductor industry.
The cabinet leader highlighted sci-tech and innovation as important cooperation areas in Vietnam's comprehensive strategic partnerships with both the US and the RoK. He pointed to Vietnam's efforts in training a workforce of 50,000-100,000 engineers by 2030 to meet the demand of enterprises.
Meanwhile, major tech players such as Samsung, Intel, and Foxconn are already present in Vietnam, he said, adding that many other leading global corporations are continuing to explore opportunities and investment in the country.
In the spirit of harmonising interests and shared risks for mutual development, he expected that both companies would focus on research and development (R&D) activities, technology transfer as a means of developing a robust semiconductor ecosystem in Vietnam.
He called for continued close collaboration between companies and competent Vietnamese agencies and localities to ensure a smooth and legal investment process.
