Việt Nam, Singapore seek cooperation chances in semiconductor industry

Việt Nam, Singapore seek cooperation chances in semiconductor industry

A seminar in Singapore highlighted Việt Nam’s potential and strategic vision for semiconductor industry development, attracting key global investors and industry leaders.

The seminar attracts numerous investors and industry partners, including representatives from the International Semiconductor Industry Group, Qualcomm, and Marvell. — VNA/VNS Photo

The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organised a hybrid seminar on March 24 to introduce Việt Nam's potential, advantages, and development strategies for the semiconductor industry.

The event attracted numerous investors and industry partners, including representatives from the International Semiconductor Industry Group, Qualcomm, and Marvell.

In his opening remarks, Vietnamese Ambassador to Singapore Trần Phước Anh said that the Vietnamese Government considered semiconductors a key sector of the national economy. In 2024, the Prime Minister issued the semiconductor industry development strategy to 2030, with a vision to 2050, in which the country sets a target of becoming a global hub for semiconductor talent and establishing fundamental capabilities in research, design, manufacturing, packaging, and testing by 2030.

The industry's annual revenue is expected to exceed US$25 billion, with a value-added growth rate of 10–15 per cent in the 2024–2030 period.

He affirmed that the two countries held great potential and cooperation opportunities, given that Singapore has rich and advanced experiences in this field.

SSIA Executive Director Ang Wee Seng said that Singapore's semiconductor ecosystem currently contributed nearly 12 per cent of the global semiconductor market and accounted for about 8 per cent of the city state’s GDP.

Cross-border collaboration would be key to unlocking the next growth opportunities as Việt Nam is an emerging player in the industry, with a market size exceeding $18 billion in 2024 and projected to rise to over $31 billion by 2029, stressed Ang.

Việt Nam was rapidly becoming a key destination for investments in innovation, manufacturing, and semiconductors, backed by strong government commitments, an improved business environment, and the country’s strategic positioning in the regional supply chain.

It was drawing increasing interest across the entire semiconductor value chain, from design to assembly, testing, and packaging, while its booming electronics and technology manufacturing sectors—particularly in automotive, including electric vehicles, consumer electronics, and telecommunications—were driving demand for semiconductors.

These trends aligned with Singapore’s key focus areas, offering great potential for collaboration, he said, adding that a crucial factor driving this growth is talent. Developing a skilled workforce and visionary leadership would be essential to sustaining innovation, he stressed.

Regarding the future development of the semiconductor industry, representatives of participating businesses suggested that Vietnamese enterprises should focus on researching and developing next-generation electronic devices integrating specialised chips and AI chips, investing in supply chain development, and building relationships with suppliers of raw materials, components, and equipment.

Enhancing international cooperation and attracting investment from major global corporations to gain development experience and access advanced technology, promoting investment in technology infrastructure, gradually building a strong brand, and expanding the domestic market were also recommended by them.

The Vietnam Trade Office plans to organise a delegation of investors and semiconductor industry partners from Singapore to visit Việt Nam in the near future to promote investment in this sector. 

Bizhub