As per Prime Minister Pham Minh Chinh’s decision, Vietnam has set a goal to advance the semiconductor sector up to the year 2050 through a structured plan divided into three phases.

Prime Minister Pham Minh Chinh has recently put his signature on Decision No. 1018/QD-TTg announcing the Plan for the growth of Vietnam's semiconductor sector until 2030 and outlook to 2050.

Accordingly, in the first phase from 2024 to 2030, the Southeast Asian country will take advantage of geopolitical advantages, human resources in the semiconductor industry, selectively attracting foreign direct investment (FDI), developing into one of the global semiconductor human resources centers, forming basic capacity in all stages from research, design, production, packaging and testing of the semiconductor industry.

In the second phase between 2030 to 2040, Vietnam will become one of the global semiconductor and electronics industry centers by developing the semiconductor and electronics industry combining self-reliance and FDI.

Meanwhile, in the third phase from 2040 to 2050, the country strives to become a country among the world's leading countries in the semiconductor and electronics industry by mastering research and development in the semiconductor and electronics fields.

Furthermore, by 2040, the human resources of the Vietnamese semiconductor industry will reach over 100,000 engineers and bachelors. In the first phase, Vietnam will establish at least 100 design enterprises, one small-scale semiconductor chip manufacturing factory and 10 semiconductor product packaging and testing factories; developing a number of specialized semiconductor products in a number of industries and fields.

The scale of the semiconductor industry's revenue in Vietnam will reach over US$25 billion a year, with added value in Vietnam reaching 10 percent-15 percent. The scale of electronics industry revenue in Vietnam reaches over US$225 billion a year, the added value in Vietnam reaches 10 percent-15 percent.

In related news, Deputy Prime Minister Le Thanh Long has approved the Decision No. 1017/QD-TTg to carry out the program ‘Developing human resources for the semiconductor industry to 2030, with a vision to 2050’.

According to the decision, the general goal is that by 2030, Vietnam will train and develop a quality workforce in the semiconductor industry, focusing on the semiconductor chip design, packaging and testing stages; plus, the country will gradually grasp the technology in the semiconductor manufacturing stage while focusing on train at least 50,000 human resources with university degrees or higher to serve the semiconductor industry in all stages of the value chain.

Under the decision, students studying talent training programs and students pursuing semiconductor industry academic programs according to the present regulations of higher education institutions are highly likely to get the government’s scholarships.