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Vietnam aims for 1 semiconductor fab plant, 10 packaging plants by 2030
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Vietnam aims for 1 semiconductor fab plant, 10 packaging plants by 2030
Sep 22, 2024 7:13 PM

HANOI, Sept 23 (Reuters) - Vietnam aims to have at least

one semiconductor fabrication plant and 10 packaging plants by

2030, and will launch a fund to help foreign investors mitigate

the impacts of the global minimum business tax, the government

said on the weekend.

The country's semiconductor industry is targeting revenue of

$25 billion by 2030, the government said in a statement after

the release of its semiconductor industry development strategy

on Saturday.

The Southeast Asian country, a regional manufacturing hub,

is seeking to move to high-tech industries from labour-intensive

ones. As part of its drive, the country aims to have 50,000

semiconductor engineers by 2030, the government said.

Several global electronics and semiconductor firm including

Intel ( INTC ), Samsung, Amkor Technology ( AMKR ), Qualcomm ( QCOM ) and Marvell

Technology ( MRVL ) have facilities in the country.

Beyond the initial 2030 target, the government said it plans

to have at least three semiconductor fabrication plants and 20

packaging plants, with annual revenues of $100 billion, by 2050.

In July, the Ministry of Planning and Investment said it was

finalising a draft plan to set up a fund to help attract foreign

investment into high-tech industries and maintain the country's

competitiveness.

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