The capital city of Hanoi is positioning itself as a prime destination for semiconductor investment, with a conference kicking off on July 29 as part of the Hanoi Semiconductor Investment Festival.

Co-hosted by the Hanoi Investment, Trade and Tourism Promotion Centre, the municipal Department of Information and Communications, the Vietnam Software & IT Services Association (VINASA), Hoa Lac Hi-Tech Park management board and the Hanoi University of Science and Technology (HUST), the event spotlighted Vietnam’s growing appeal to global semiconductor giants from the US, the Republic of Korea, Japan and Europe.

Nguyen Tran Quang, Deputy Director of the centre, underscored the sector's critical role in the digital economy and the influx of foreign interest.

The recently enacted Capital Law solidifies the city’s commitment to the industry, designating semiconductor as a strategic investment priority.

Hanoi’s strong economic performance, with nearly 1.17 billion USD in foreign investment during the first half, further bolsters its attractiveness.

Director of the municipal Department of Information and Communications Nguyen Viet Hung outlined Hanoi’s ambition to become a regional semiconductor and AI design and supply leader.

He detailed a package of incentives for investors, including exemptions on land and water surface lease fees, preferential corporate and personal income taxes, waiver of certain criteria in the evaluation of prequalification documents, tender submissions, and contractor capability and experience when bidding for city contracts.

VINASA Chairman Nguyen Van Khoa stressed the importance of forging long-term partnerships to cultivate a robust market for Vietnamese-made chips.

The festival, running through July 31, also features three symposiums and an exhibition on semiconductor technology at the HUST campus.