During a press briefing, held on October 23, for the Vietnam Semiconductor Industry Exhibition 2024 - SEMIExpo Vietnam 2024 with the theme “Elevating Vietnam in the Global Semiconductor Supply Chain,”  experts emphasized that amidst the continuous development of the global semiconductor industry, Vietnam is emerging as a potential destination, promising extraordinary growth opportunities for this sector.

AN IMPORTANT LINK IN THE GLOBAL SEMICONDUCTOR SUPPLY CHAIN

According to data from the Semiconductor Equipment and Materials International (SEMI), the Vietnamese semiconductor market is forecasted to reach $7.01 billion by 2028, with a compounded annual growth rate (CAGR) of about 6.69 per cent from 2023 to 2028.

In recent years, Vietnam has built a large-scale semiconductor ecosystem in the region, featuring high-tech companies such as Google, Meta, NVIDIA, Qualcomm, Intel, Amkor, Hana Micron, LAM Research, Marvell, Synopsys, Ampere, Infineon, and many other international players in this field.

Moreover, Vietnam is also assessed to be at the forefront of opportunities to participate more deeply in the semiconductor industry, expressing its aspiration to become an important link in the global semiconductor supply chain. Ms. Linda Tan, President of SEMI in the Southeast Asia, stated that strong growth in the semiconductor sector is a clear testament to Vietnam's solid foundation and competitive advantages, reflecting the government's strong commitment to building a sustainable semiconductor ecosystem by 2050.

“With a vision driven by strategic investments and international cooperation, Vietnam is gradually affirming its role as an important link in the global semiconductor industry,” Ms. Linda Tan said.

Along with that, Mr. Christoph Prommersberger, Deputy Head of Mission at the Embassy of the Kingdom of the Netherlands in Vietnam, also believes that Vietnam has great potential in developing its semiconductor market. Recent investment projects by Dutch enterprises and other international companies in the semiconductor sector in Vietnam have demonstrated Vietnam's significant progress in this industry.

In the near future, to further strengthen the semiconductor industry,  the Dutch diplomat suggested that Vietnam needs to reform administrative procedures and accelerate the establishment of support centers for small and medium-sized enterprises (SMEs), as these businesses play a crucial role in completing the country's semiconductor ecosystem.

“The Netherlands is always ready to collaborate with partners in Vietnam to build a semiconductor ecosystem, helping Vietnam achieve its goal of deeper participation in the global semiconductor supply chain,” he said.

SEMIEXPOVIET NAM 2024 - PROMOTING INNOVATION AND DEVELOPMENT IN THE SEMICONDUCTOR INDUSTRY

In order to continue boosting the development of Vietnam's semiconductor market and enhance connections among domestic and international enterprises in the semiconductor industry, the National Innovation Center (NIC) under the Ministry of Planning and Investment in collaboration with the SEMI will organize the Vietnam Semiconductor Industry Exhibition 2024 - SEMIExpo Vietnam 2024 with the theme “Elevating Vietnam in the Global Semiconductor Supply Chain” on November 7-8 at the NIC headquarters in Hanoi's Hoa Lac Hi-tech Park.

At the upcoming event, global corporations and enterprises will come together to discuss ways to support Vietnamese companies in deeper participation in the global semiconductor supply chain and production, thus enhancing Vietnam's position in this field.

The organizers hope that the event will bring tangible values to partners and participants, promote cooperation opportunities, share knowledge, and create a tightly connected environment among stakeholders in the semiconductor industry ecosystem, according to Mr. Vu Quoc Huy, NIC Director.

Additionally, SEMIExpo Vietnam 2024 is a significant event for Vietnam as it is an emerging market in the global semiconductor supply chain. With strong government support and a focus on developing a robust semiconductor ecosystem, Vietnam is ready to make substantial contributions to the global supply chain.

“This event serves as a platform for cooperation, innovation, and strategic partnerships, and we hope to contribute to driving the next growth phase for the semiconductor industry in Vietnam and the broader Southeast Asia region,” Ms. Linda Tan emphasized.