The government plans to train between 50,000 and 100,000 high-skilled workers in the 2025-2030 period as Vietnam braces for a fresh investment wave to sweep its semiconductor industry.
The plan is included in the socioeconomic report tabled by Prime Minister Pham Minh Chinh Monday at the ongoing parliamentary session.
He said the plan was part of broader efforts to develop a skilled workforce in tandem with fostering research and development, technology application, innovation and entrepreneurship.
The government also aimed to implement the Party’s resolutions on developing intellectual, scientific and technological temper in the country, the PM said.
He noted that Vietnam was focusing on rejuvenating and strengthening industries, particularly manufacturing and semiconductors. Critical minerals and rare earths will be tapped after the Land Law is amended by the parliament, he said.
Vietnam made global headlines during U.S. President Joe Biden’s September 10-11 visit to the country. His entourage included a host of American tech giants, including Amkor, Intel and GlobalFoundries, looking for explore business opportunities in Vietnam.
Based on agreements signed during President Biden’s visit, “the coming wave of U.S. investment into Vietnam looks set to be dominated by investment in high-tech industries, including semiconductors,” leading fund manager VinaCapital said in a note sent to The Investor.
On October 11, Arizona-based Amkor Technology Inc., a leading provider of semiconductor packaging and test services, inaugurated its factory in northern Vietnam. Amkor has committed $1.6 billion to the project’s two phases, the first of which will absorb $520 million.
Minister of Information and Communications Nguyen Manh Hung said last month that Vietnam was facing a critical shortage of skilled engineers for the semiconductor industry. Less than 20% of Vietnam’s yearly need for 20,000 semiconductor engineers was being met.
During a trip to the U.S. a week after Biden’s visit, PM Chinh visited the Silicon Valley and urged a large number of U.S. tech corporations to invest in Vietnam.
Vietnamese agencies and companies including FPT Corp. have inked several agreements with U.S. partners to help the country develop different facets of the semiconductor industry.