Vietnam seeks breakthrough in semiconductor industry development with Japanese businesses

Vietnam's Prime Minister Pham Minh Chinh has asked large Japanese businesses in the semiconductor sector to increase cooperation, invest, and develop the ecosystem in design, chip manufacturing, and packaging and testing.

On Saturday morning, the prime minister met with leading Japanese corporations to look at developing semiconductor circuits with the goal of delivering a breakthrough for Vietnam's semiconductor industry.

The meeting was organized by the Ministry of Planning and Investment in coordination with the Vietnamese Embassy in Japan.

The prime minister stressed that Vietnam aims to expand its semiconductor industry in a breakthrough, stronger direction, and to play a more important role in the global supply chain. Vietnam will continue to establish appropriate priority policies in this industry for firms and investors in terms of taxes and land.

Vietnam always listens to feedback and removes difficulties and obstacles for businesses to develop, with the goal of open mechanisms and policies, smooth infrastructure development, and smart governance, Chinh stated.

The prime minister emphasized that Vietnam will continue to ensure the fundamental elements, maintain a peaceful and stable environment, firmly protect independence, sovereignty, territorial integrity, political stability, social order and safety, while maintaining macroeconomic stability and ensuring major balances so that businesses can feel secure in investing in Vietnam.

"Vietnam is a safe place to shelter during the storm," the prime minister said.

He also boasted that Vietnam has so far attracted around $30 billion in registered FDI capital and approximately $20 billion has been disbursed.

At the meeting, corporations such as SBI Holdings, Renesas Electronics Corporation, Denso, Rapidus Corporation, and Tokyo Electron Limited presented their directions and proposals for cooperation in developing semiconductor chips and ecosystems in Vietnam.

Japanese firms value Vietnam's potential as well as the possibility for collaboration between Vietnam and Japan in the semiconductor sector, artificial intelligence, and other high-tech industries. This is a crucial area for the newly founded Vietnam-Japan comprehensive strategic partnership to be concretized and implemented.