Vietnam sets aside $1 bln to train semiconductor workforce

By Quang Minh
Thu, April 25, 2024 | 12:16 pm GMT+7

Vietnam will spend VND26 trillion ($1.02 billion) by 2030 to develop a well-prepared workforce for the semiconductor industry as the country attempts to seize a “once-in-a-thousand-year” opportunity.

The state budget will provide VND17 trillion ($669.4 million), while the rest will come from businesses and other sources, according to a project presented by Minister of Planning and Investment Nguyen Chi Dung at a national conference on Wednesday.

Minister of Planning and Investment Nguyen Chi Dung speaks at a national conference on the semiconductor workforce in Hanoi, April 24, 2024. Photo courtesy of the government's news portal.

Minister of Planning and Investment Nguyen Chi Dung speaks at a national conference on the semiconductor workforce in Hanoi, April 24, 2024. Photo courtesy of the government's news portal.

The project aims to integrate Vietnamese engineers deeply into the design, packaging and testing (backend) processes, and gradually master the fabrication phase.

Under the project, the government aims to train 50,000 engineers for the semiconductor industry, covering all processes. Of them, there will be 15,000 chip designers and 35,000 engineers in semiconductor-tied sectors, with at least 5,000 having artificial intelligence (AI) expertise. There will also be some 1,500 world-level lecturers.

“Training skilled manpower is a top priority for developing the semiconductor industry in Vietnam,” the project noted.

To make the project feasible, the ministry proposed issuing breakthrough policies and solutions for the industry's development as well as the training of a skilled workforce, giving Vietnam a competitive edge.

It will also need initial support from the government and resources to be mobilized through public-private partnerships for investment in scholarships, infrastructure, training, research and development centers, and incubators.

The project points out some of Vietnam’s advantages in this industry, which are high political willingness; an investment environment that is appealing to foreign companies, with over 50 foreign players present in the country; a skilled and inexpensive workforce in the electronics industry; and establishments of comprehensive strategic partnerships with most nations that have developed semiconductor industries.

Speaking at the conference, Prime Minister Pham Minh Chinh stressed that workforce development in semiconductors should be considered a breakthrough in personnel training.

PM Pham Minh Chinh speaks at a national conference on the semiconductor workforce in Hanoi, April 24, 2024. Photo courtesy of the government's news portal.

PM Pham Minh Chinh speaks at a national conference on the semiconductor workforce in Hanoi, April 24, 2024. Photo courtesy of the government's news portal.

He expressed confidence that the domestic semiconductor industry would thrive thanks to the operational National Innovation Centre (NIC), high-tech centers in Hanoi and Ho Chi Minh City, and several IT parks.

In addition, out of about 240 universities across the country, nearly 160 are providing technology training, which will be expanded to semiconductors, and 35 educational institutions are offering majors related to semiconductors.

Highlighting partnerships with several countries, Chinh said leading players like Nvidia and Samsung have expressed interest in research, investment and development, aiming to build semiconductor manufacturing facilities in Vietnam.

Recognizing some challenges related to awareness, workforce, finance, protection policies, and competitiveness, the PM urged ministries, agencies, educational institutions, and businesses to make investments, diversify resources, and boost public-private partnerships in this field.

He asked the Ministry of Planning and Investment to review and perfect the program on semiconductor workforce development and submit it to him for approval next month.

The Ministry of Information and Communications was also requested to submit the national semiconductor circuit development strategy by 2030, with a vision to 2035, for approval.

In addition, the Ministry of Education and Training needs to sketch out a plan on training 30,000 university students to serve the semiconductor chip industry over a five-year period.

Comments (0)
  • Read More
Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

May saw a more stable picture in terms of U.S. tariff policies than April, helping lead to a renewed expansion in output and improved business confidence, says Andrew Harker, economics director at S&P Global Market Intelligence.

Economy - Mon, June 2, 2025 | 9:18 am GMT+7

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

The Ministry of Industry and Trade (MoIT) has proposed building two inter-regional renewable energy service and industry hubs in the country.

Economy - Mon, June 2, 2025 | 8:00 am GMT+7

Investors advised to take profits from stocks having risen sharply

Investors advised to take profits from stocks having risen sharply

Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.

Finance - Sun, June 1, 2025 | 8:10 pm GMT+7

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.

Companies - Sun, June 1, 2025 | 1:14 pm GMT+7

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.

Companies - Sun, June 1, 2025 | 10:29 am GMT+7

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.

Industries - Sun, June 1, 2025 | 8:00 am GMT+7

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.

Companies - Sat, May 31, 2025 | 11:09 pm GMT+7

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.

Companies - Sat, May 31, 2025 | 7:14 pm GMT+7

Two investors propose $65 mln wind power project in central Vietnam

Two investors propose $65 mln wind power project in central Vietnam

A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.

Energy - Sat, May 31, 2025 | 3:10 pm GMT+7

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).

Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7

Thai-backed food giant C.P. Vietnam rejects pork safety accusations 

Thai-backed food giant C.P. Vietnam rejects pork safety accusations 

C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.

Companies - Sat, May 31, 2025 | 8:54 am GMT+7

Oman Investment Authority to expand investment fund in Vietnam

Oman Investment Authority to expand investment fund in Vietnam

Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.

Economy - Fri, May 30, 2025 | 11:26 pm GMT+7

Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta

Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta

Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).

Industries - Fri, May 30, 2025 | 4:44 pm GMT+7

76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC

76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC

Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.

Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7

Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export

Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export

After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.

Companies - Fri, May 30, 2025 | 2:37 pm GMT+7

AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal

AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal

TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.

Companies - Fri, May 30, 2025 | 2:30 pm GMT+7