Vietnam Targets $25B in Annual Semiconductor Revenue by 2030

Vietnam has set an ambitious goal to achieve $25 billion in annual revenue from its semiconductor industry by 2030, according to the nation’s development strategy for the sector, which extends to 2050. This strategy, approved by the prime minister, outlines three distinct phases aimed at bolstering Vietnam’s position in the global chip market.

The target is set to rise significantly, with projected annual revenues reaching $50 billion between 2030 and 2040, and $100 billion by 2050.

Phase 1: 2024 – 2030

To reach these milestones, Vietnam will implement the strategy in three phases, starting from 2024 to 2030, with a strong focus on attracting foreign investment. The country plans to capitalize on its geopolitical stability and skilled workforce to draw international investors and position itself as a key global hub for semiconductor talent.

During this initial phase, Vietnam will also boost its capabilities in chip research, design, manufacturing, packaging, and testing. By 2030, the country expects to establish at least 100 chip design companies, one semiconductor manufacturing plant, and 10 chip packaging and testing facilities.

The industry is projected to generate $25 billion annually during this period, contributing 10 to 15 percent of the country’s added value, and employ 50,000 engineers.

Phase 2: 2030 – 2040

In the second phase, from 2030 to 2040, Vietnam aims to become a global electronics and semiconductor powerhouse. The country plans to establish a network of 200 chip design firms, two production plants, and 15 packaging and testing facilities to advance its autonomy in chip design and production technologies.

By the end of this phase, the sector is expected to generate $50 billion annually, with up to 20 percent in added value and a workforce of 100,000 skilled workers.

Phase 3: 2040 – 2050

In the final phase, running from 2040 to 2050, Vietnam aims to rank among the world’s top semiconductor-producing nations. The plan calls for the establishment of 300 chip design companies, three semiconductor manufacturing plants, and 20 packaging and testing facilities, further enhancing the country’s self-sufficiency in chip research and development.

By 2050, Vietnam’s microchip industry is projected to generate $100 billion annually, contributing 20 to 25 percent in added value and completing a fully autonomous semiconductor ecosystem.

To support this ambitious roadmap, the Vietnamese government has laid out a series of initiatives and solutions to expand the chip industry. These include developing a specialized workforce for semiconductors and electronics, attracting global talent and investment, and forming a national steering board for semiconductor development, led by the prime minister, with a dedicated team headed by the information and communications minister.

The government will also provide increased funding for semiconductor research, manufacturing, and environmental sustainability efforts. Strengthening international partnerships in the semiconductor sector and implementing strict environmental regulations, such as managing toxic waste from resource extraction and chip manufacturing, are also key priorities.

The plan aims to create a sustainable and green semiconductor industry in Vietnam, contributing to global environmental protection efforts while advancing the country’s technological capabilities.

Source: tuoitrenews