10-4-2024 (HANOI) Prime Minister Pham Minh Chinh of Vietnam has called upon the military-run telecom company Viettel to enhance the semiconductor chip industry in a “more effective and diverse manner,” as stated by the government late on Tuesday.
Vietnam hosts several global electronics and semiconductor firms, including Intel, Samsung, Amkor, Qualcomm, and Marvell. The nation aims to establish its first fabrication plant (fab) by the end of the decade, as reported by Reuters last year. There are indications that Vietnam may support local companies like Viettel in constructing fabs using imported equipment.
According to the government’s statement, Chinh emphasized Vietnam’s determination to develop the semiconductor industry and create an ecosystem to support it. He highlighted Viettel’s role in laying the groundwork for a self-reliant industry in Vietnam through its product development efforts.
To bolster the semiconductor industry, the Vietnamese government plans to introduce a series of tax incentives and establish investment funds this year. These initiatives are part of Vietnam’s strategy to provide increased support for the semiconductor sector.
