Prime Minister Pham Minh Chinh visited the first semiconductor chip manufacturer in Vietnam’s northern region, Hana Micron Vina Ltd. in Bac Giang province, on December 23, the Government News has reported.

The South Korean-invested factory is located at the Van Trung Industrial Park.

It has total investment of $600 million and specializes in the packaging and testing stage of the semiconductor chip production process.

It earned estimated revenue of $300 million in 2023.

The company plans to increase its investment in the factory to more than $1 billion by 2025, aiming for annual revenue of $800 million and generating more than 4,000 jobs.

Prime Minister Chinh spoke highly of its achievements and development, which have contributed to developing the country’s semiconductor industry.

Vietnam has actively attracted foreign investors in building an ecosystem to develop a semiconductor industry in the three stages of designing, building chip production factories, and packaging and testing.

He proposed that the company maintain long-term operations in Vietnam and expand its investment, production, and trade.

Bac Giang had foreign 345 projects as of the end of 2023. South Korea ranks first in terms of project numbers and second in registered investment capital.