US semiconductor firms double down on investments in Vietnam

John Neuffer, president of the US Semiconductor Industry Association (SIA)

John Neuffer, president of the SIA, during the seminar, emphasised the burgeoning demand for advanced semiconductor technology and the resulting imperative for enhanced cooperation between the US and Vietnam.

"The increasing demand for semiconductors globally necessitates collaborative efforts between nations. Vietnam's role is becoming increasingly critical in this context," Neuffer said

The SIA's visit to Vietnam included key industry players such as Intel, Marvell, Synopsys, Qualcomm, Ampere, and Infineon. These companies have been instrumental in scaling up their investments in the country.

"Major tech firms like Intel have been leading this charge, with Intel alone investing $1.5 billion since 2006 and now expanding its assembly and testing operations in Ho Chi Minh City. This facility is a cornerstone of our global operations, accounting for over 70 per cent of our total ATM volume and generating upwards of 7,000 jobs," he said.

Vietnam's attractiveness as an investment destination for the semiconductor industry is not limited to established players. New entrants like Amkor, with its new plant in Bac Ninh, and Marvell, which set up a significant research and development (R&D) centre in Ho Chi Minh City, are testaments to this trend.

Neuffer said, "The trend we're seeing is a doubling down on investment in Vietnam by many companies. This clearly underscores Vietnam's growing importance in the global semiconductor supply chain."

To bolster this momentum, Neuffer recommended Vietnam to focus on workforce development, with an aim to train between 50,000 and 100,000 engineers, fostering a competitive environment to pull in further R&D investment, and improving infrastructure and trade policies.

Nguyen Chi Dung, Vietnam's Minister of Planning and Investment, outlined the government's initiatives to facilitate and nurture this growth.

"Vietnam is ready and eager to partner with US enterprises in the semiconductor sector. We have streamlined processes, established dedicated plans for human resource development in semiconductors, and are ensuring stable electricity supply to support these high-tech investments," Dung said.

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