Vietnam commits $1.08 billion to train 50,000 semiconductor engineers by 2030

Prime Minister Pham Minh Chinh on April 24 chaired a pivotal conference focusing on human resources development within the burgeoning semiconductor industry.

Minister of Planning and Investment Nguyen Chi Dung noted, "From 2001 to 2021, the global semiconductor industry's revenue has expanded 14 per cent annually, reaching close to $600 billion in 2023, and is expected to continue its robust growth trajectory, potentially reaching $1 trillion by 2030."

The minister outlined the strategic direction for Vietnam. "There's a high political resolve from central to local governments to succeed. We offer a business-friendly investment climate that's already appealing to major foreign players in the electronics sector. Moreover, our skilled yet cost-effective workforce operates actively within the electronics industry, and we've established comprehensive strategic partnerships with nearly all nations hosting advanced industries," he said.

He added, "Vietnam is presented with a once-in-a-millennium opportunity to deeply integrate into the global semiconductor industry's value chain."

As part of this ambition, the government has delegated the Ministry of Planning and Investment to develop the "Semiconductor Industry Human Resources Development Project towards 2030, with a vision to 2045", requiring a total investment of roughly $1.08 billion, blending state funding and private capital.

The project targets the cultivation of 50,000 engineers across the value chain, specialising in various segments, including a minimum of 5,000 engineers with deep expertise in AI, and about 1,300 lecturers of international calibre.

Minister Dung highlighted the importance of cross-sector cooperation for the project's success, "All ministries, localities, businesses, research institutions, and experts, both national and international, must engage collectively to harness this rare opportunity for deep integration into the semiconductor value chain."

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