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Vietnam's Ambitious Plan to Boost Semiconductor Industry by 2030

2024-10-16 07:42:05.892000

On October 16, 2024, Vietnam unveiled a comprehensive national strategy aimed at developing its semiconductor industry by 2030. This initiative is designed to establish a robust semiconductor sector that emphasizes local expertise and integration into key stages of the semiconductor value chain, including assembly, packaging, and testing. The strategy aligns with Vietnam's broader goals of enhancing its electronics industry and advancing its artificial intelligence capabilities. Authors Ngoc Bach and Kendrick Chan, associated with the Tony Blair Institute for Global Change, underscore the importance of this initiative in positioning Vietnam as a competitive player in the global semiconductor market. [ff2bc4eb]

This move comes amid a global race for semiconductor dominance, with countries like India and the United States also making significant strides in the sector. India's recent semiconductor manufacturing deal with the US aims to bolster its role in the global chip supply chain, while Japan is investing heavily in reclaiming its semiconductor leadership through projects like Rapidus. [e6e7410e][37dbee3a]

Vietnam's strategy is particularly noteworthy as it seeks to capitalize on the growing demand for semiconductors driven by advancements in technology and the increasing integration of AI in various sectors. By focusing on local development and expertise, Vietnam aims to reduce its dependency on foreign semiconductor suppliers and enhance its economic resilience. [ff2bc4eb]

As the semiconductor industry continues to evolve, Vietnam's proactive approach may position it favorably within the Asia-Pacific region, potentially attracting foreign investments and partnerships that could further stimulate its economic growth. [ff2bc4eb]

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