Semiconductor sector to create 200,000 jobs, contribute $14 bln to Vietnam economy

Vietnam’s semiconductor sector can employ 15,000 designers, 35,000 factory engineers and 154,000 indirect workers by 2030, said Deputy Minister of Planning and Investment Tran Duy Dong.

He was speaking at a Monday meeting chaired by Deputy Prime Minister Tran Hong Ha on the national plan to develop a semiconductor workforce by 2030.

Dong said the sector can contribute VND360 trillion ($14.1 billion) to the country’s GDP.

In line with the sector’s rapid growth across the world, many semiconductor giants plan to diversify their supply chain by utilizing Asia’s high-quality, young workforce, including Vietnam, he said.

The country’s current plan to develop a semiconductor workforce includes providing adept training for 1,300 trainers, expanding training networks in relevant sectors for 200 establishments, and investing in 20 training centers, Dong added.

Deputy Minister of Education and Training Hoang Minh Son said Vietnam’s current strengths in the semiconductor sectors were in the packaging-checking and designing phases. Authorities must soon build up a legal framework to facilitate early deployment of the national training program, he added.

Deputy Minister of Science and Technology Tran Hong Thai suggested that Vietnam provides incentives for semiconductors businesses participating in the training “ecosystem.”

Deputy PM Ha asked the Ministry of Science and Technology to update its draft plan, focusing on the key role of the government and the participation of businesses in training semiconductors workers.

Vietnam has been attracting foreign investments worth billions of dollars into the semiconductor sector.

In September 2023, South Korea’s Hana Micron Vina Co., Ltd. inaugurated a semiconductor plant in Bac Giang province, the first of its kind in northern Vietnam. Choi Chang Ho, chairman of the company, said Hana Micron Vina plans to increase its total investment to over $1 billion in 2025, generating annual revenues of $800 million and creating 4,000 jobs for Vietnamese workers.

In October 2023, the U.S.-based Amkor Technology Inc., a leading provider of semiconductor packaging and test services, held a grand opening for its newest factory in the northern province of Bac Ninh. In January 2024, Kim Sung Hun, CEO of Amkor Technology Vietnam, said the firm expects to start mass production at the facility this year.

In December 2021, Samsung announced it would invest $850 million in Vietnam for manufacturing flip-chip ball grid array, a component of semiconductor chips. In August 2022, the South Korean tech giant said that it was preparing for trial production of flip-chip ball grid array in the northern province of Thai Nguyen.