Vietnam has launched an ambitious strategy to establish over 20 semiconductor facilities by 2050, aiming to become a global semiconductor leader. The plan focuses on building manufacturing plants, packaging facilities and developing specialized chips, while overcoming challenges like power shortages and attracting skilled talent to drive industry growth.
Approved by Prime Minister Pham Minh in Decision No. 1018/QD-TTg, Vietnam has developed a well-rounded policy to dominate the global semiconductor market by 2050. There are five areas of focus in the plan: designing and producing special purpose chips, development of the electronics sector, developing human resources, sourcing of funds and achieving self-sufficiency in semiconductor manufacturing. The country aims to set up three semiconductor plants and 20 packaging and testing centers by 2050 and thus consolidating the country’s position as a key player in the global semiconductor market.
The plan has been divided into three phases: Phase 1 runs until 2030, during which Vietnam intends to set up at least one semiconductor manufacturing plant, 10 packaging and testing facilities and create 100 design companies. The government currently projects that the industry will reach over USD 25 billion in annual revenue by 2030. Another focus is on developing its workforce, as Vietnam targets over 50,000 engineers and graduates for training by 2030, with further scaling up to more than 100,000 by 2040. Investments will strengthen with the construction of two additional chip manufacturing plants and more packaging facilities in the second phase, from 2030 to 2040.
Vietnam has already attracted investments from global giants such as Samsung, Intel, Qualcomm, and Texas Instruments in its growing semiconductors sector. However, this industry faces several problems also, such as power shortages, weak technological basis, competitive salaries and the challenge of attracting and retaining professionals. The government plan should therefore help to overcome such obstacles; by 2050, Vietnam will become a main player in the global semiconductor industry, with USD 100 billion revenues annually from semiconductors.
