The semiconductor industry of Vietnam is projected to gain an average annual growth rate of 11.6% in the 2023-2027 periods, reaching $31.28 billion by 2027, according to Statista Market Insights.

Integrated Circuit dominates the semiconductor market with a projected market volume of $16.44 billion in 2024.

With this positive outlook, the MB Securities forecasted that Vietnam has potential to become a new semiconductor production hub of the world in 2024-2030.

Last September, Vietnam and the US signed a Memorandum of Understanding on cooperation in semiconductor supply chain and human resources training.

Many leading semiconductor groups of the US have committed to invest in the semiconductor industry of Vietnam, including Intel, Amkor, Marvell and GlobalFoundries.