Many global tech giants have been pouring billions of US dollar into semiconductor chip production lines in Vietnam in an effort to get the lion’s share of the lucrative industry in the country.

The semiconductor industry is currently flourishing globally, and Vietnam is required to make the best preparations possible to attract multi-billion dollar FDI projects in this field, reports Cong Thuong (Industry and Trade) newswire.

Prime Minister Pham Minh Chinh has assigned four government bodies to collaborate in developing a plan to train around 30,000-50,000 engineers and 100 experts in digital transformation and semiconductor manufacturing.

Vietnam once had a semiconductor manufacturing factory in 1979, which was named Z181. The factory provided semiconductor devices to the Eastern European market.

A number of global semiconductor manufacturers are increasing their presence in Viet Nam, making the Southeast Asian country a rising star in the world semiconductor market.

Vietnam ranks third in Asia in export turnover of semiconductor chips to the US, after Malaysia and Taiwan (China), according to the Ministry of Information and Communications (MIC).

FPT Semiconductor has designed and manufactured three lines of source chips and inked the first contract for 25 million chips in 2024 and 2025 with its partners.

The scarcity of chip supply that began in late 2020 has affected most manufacturing industries.