Foreign investment in semiconductors on nhà cái bet88 rise

nhà cái bet88 Signetics Corporation, a member of South Korea’s Young Poong Group, a semiconductor supplier for many large corporations, such as its compatriots Samsung and SK, in August announced plans to build a factory at nhà cái bet88 Ba Thien I Industrial Park in northern Vinh Phuc province with total investment of some 0 million. Covering 5 ha, nhà cái bet88 factory will manufacture key products used in memory chips, GPUs, and TVs, and is expected to officially come into operation at nhà cái bet88 end of 2025.

Though not part of nhà cái bet88 “billion-dollar” projects club, nhà cái bet88 factory nonetheless serves as a recent example of Vietnam’s increasing appeal among foreign companies in nhà cái bet88 chip and semiconductor industry.

Accelerating plans

Mr. Song Young Hee, CEO of Signetics, explained that one reason it selected Vietnam, and specifically Vinh Phuc, as its investment destination is its favorable investment environment and policies, which align with nhà cái bet88 company’s production scale and business strategy for nhà cái bet88 years ahead. “Vietnam is nhà cái bet88 next destination where nhà cái bet88 company plans to collaborate and expand its investment, following our production branches in nhà cái bet88 US and nhà cái bet88 Netherlands,” Mr. Song said.

Meanwhile, on August 13, nhà cái bet88 US’s 3M Corporation launched a science, technology, and engineering center in Hanoi featuring a range of solutions in traffic safety and nhà cái bet88 commercial market while highlighting nhà cái bet88 corporation’s electronic technologies and innovations in Southeast Asia. Spanning 417 sq m, nhà cái bet88 center offers tours and interactive experiences, allowing customers to gain a deeper understanding of how 3M’s technologies are driving future solutions.

Though not directly involved in chip manufacturing, 3M acknowledged that Vietnam is quickly emerging as a key market of interest for companies participating in nhà cái bet88 global semiconductor ecosystem. According to Mr. Amit Laroya, Senior Vice President - Asia, at nhà cái bet88 3M Transportation & Electronics Business Group, as nhà cái bet88 fastest-growing electronics market in Southeast Asia, Vietnam is drawing significant attention from many foreign enterprises within nhà cái bet88 semiconductor ecosystem. 3M is actively expanding its activities in rapidly-growing markets that require advanced solutions in areas such as consumer electronics, semiconductors, data centers, and industrial automation.

nhà cái bet88 opening of nhà cái bet88 center is part of its broader efforts to maintain its leadership in innovation as Vietnam increasingly attracts interest from companies in nhà cái bet88 semiconductor sector and those connected to nhà cái bet88 semiconductor ecosystem.

Mr. Laroya added that numerous American companies are gradually investing in Vietnam. “As a business involved in semiconductor manufacturing processes such as polishing and finishing, 3M is accelerating its preparations to best serve nhà cái bet88 production chain,” he explained. “This is just a small part of 3M’s strategy after more than 30 years of presence in Vietnam.”

Luring investor interest

Vietnam’s semiconductor industry is gaining momentum, attracting nhà cái bet88 attention of major companies. A prime example is Amkor Technology’s first billion-dollar project of 2024 in nhà cái bet88 semiconductor sector. On June 30, nhà cái bet88 US company received an investment license from nhà cái bet88 Bac Ninh provincial government in Vietnam’s north that increases its investment in nhà cái bet88 country to .6 billion. “This expansion reinforces Amkor’s commitment to regional growth and enhances our position in nhà cái bet88 global semiconductor supply chain,” nhà cái bet88 company said in a statement. “We look forward to contributing further to Vietnam’s technological advancement and economic development through this increased investment.”

As well as Amkor, several other prominent US semiconductor companies, including Intel, Marvell, and GlobalFoundries, have made significant investment commitments in Vietnam that are expected to shape nhà cái bet88 future of nhà cái bet88 country’s semiconductor ecosystem.

According to Mr. Choi Joo-ho, General Director of Samsung Vietnam, Vietnam’s crucial role in nhà cái bet88 global supply chain is drawing intense competition among high-tech companies worldwide, all seeking investment opportunities in nhà cái bet88 country.

nhà cái bet88 investment wave in nhà cái bet88 sector has accelerated since last year, with investors from nhà cái bet88 US, Europe, Japan, and South Korea coming to Vietnam and expressing strong interest in semiconductors. While global foreign investment had been slowing in recent years, nhà cái bet88 semiconductor sector has seen an influx of funding. nhà cái bet88 Semiconductor Industry Association (SIA) announced on August 5 that global semiconductor industry sales totaled 9.9 billion during nhà cái bet88 second quarter of this year, an increase of 18.3 per cent compared to nhà cái bet88 second quarter of 2023 and 6.5 per cent more than in nhà cái bet88 first quarter of this year. Consequently, Vietnam is being recognized as a new semiconductor manufacturing hub of potential from 2024 to 2030.

In discussions with nhà cái bet88 Ministry of Planning and Investment, Mr. Richard Lawton Thurston, former Vice President of nhà cái bet88 Taiwan Semiconductor Manufacturing Company (TSMC) from Taiwan (China), highlighted Vietnam’s significant opportunities to advance its semiconductor and AI industries. “AI development relies on various technologies, including sensors, memory, data collection, and processing,” he said. “Vietnam should therefore focus on one of these stages and develop a targeted strategy.”

Securing a quality workforce

No matter which stage of nhà cái bet88 production process Vietnam chooses to prioritize, Mr. Thurston emphasized that nhà cái bet88 most pressing issue for nhà cái bet88 country is to swiftly develop a plan and roadmap for nhà cái bet88 semiconductor industry. Initially, this involves training high-quality human resources that can meet nhà cái bet88 needs of investors.

Mr. Laroya also noted that nhà cái bet88 main reason companies are relocating their investments to Vietnam is because of nhà cái bet88 country’s competitive advantage in possessing a young workforce with a strong foundation in computer science. nhà cái bet88 challenge now is to elevate nhà cái bet88 quality of this workforce through specialized training tailored to nhà cái bet88 specific needs of various industries, particularly critical sectors like semiconductors and electronics.

To build a robust human resource base, it is essential for manufacturing companies to work closely with training centers and universities to cultivate specialized talent for industries such as semiconductors and electronics. Strengthening partnerships between Vietnamese universities and manufacturing facilities engaged in R&D is also vital for developing a high-quality workforce.

“This collaboration not only provides a skilled workforce but also offers internship opportunities, giving students practical experience and preparing them to meet industry demands, which in turn supports nhà cái bet88 establishment and operation of manufacturing plants,” Mr. Laroya believes.

In September 2023, Vietnam and nhà cái bet88 US signed an MoU to cooperate in nhà cái bet88 semiconductor supply chain, workforce training, and ecosystem development. This agreement aims to enhance bilateral scientific and technological relations and create a more resilient semiconductor supply chain.

To prepare nhà cái bet88 workforce for this industry, nhà cái bet88 two will implement comprehensive workforce development programs, including hands-on teaching labs and training courses focused on semiconductor assembly, testing, and packaging.

Furthermore, Vietnam is in nhà cái bet88 process of developing a comprehensive strategy and staffing plan, backed by relevant regulations, policies, and mechanisms, to attract leading global semiconductor manufacturers and designers. Once these policies and mechanisms are in place, Vietnam’s human resources will become a key factor in drawing in more foreign investment.