US semiconductor firm Marvell seeks investments in Vietnam’s Danang city

Danang will facilitate Marvell's plans to invest in the central city, Danang Vice Chairman Ho Ky Minh affirmed at a Monday meeting with a delegation from the U.S. semiconductor giant.

Danang is determined to utilize the semiconductor sector as a key economic driver for the city in its next development phase. At the moment, the city is making preparations, including training its workforce, to attract global semiconductor businesses, Minh added. The city also plans to issue support policies related to infrastructure, taxes, and visas, he noted.

The central city is focusing on training trainers, engineers, and students to prepare a workforce that meets international standards in the semiconductor industry, Minh emphasized. The city is deploying a project on “developing semiconductor chips of Danang city” and another on “a research & development center for chip design and artificial intelligence”, Minh stated.

For his part, Loi Nguyen, executive vice president and general manager of Marvell Cloud Optics Business Group, said Marvell highly regards the growth of the semiconductor industry in Vietnam and the potential of the sector in Danang.

Marvell eyes to grant scholarships to Danang University of Science and Technology, under the University of Danang, and help students of the facility to learn about the semiconductor sector, Loi added.

In September 2023, Marvell said it plans to open a new facility in Vietnam by end-2024. The semiconductor giant said it would strive to enlarge its Vietnamese workforce by 50% in the next three years, and in the process, double the funding for its scholarship program.

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, said Prime Minister Pham Minh Chinh. 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.