Vietnam sets aside $1 bln to train semiconductor workforce
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.
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.
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.
- Read More
Vietnamese billionaire reaffirms steadfast commitment to EV maker VinFast
Vietnam’s richest man, billionaire Pham Nhat Vuong, says he personally and the conglomerate that he chairs, Vingroup, will continue financing VinFast despite heavy losses incurred by the EV-maker since 2017.
Companies - Thu, April 25, 2024 | 5:32 pm GMT+7
Malaysia tackles food security challenges
Empowering local communities in the agriculture sector to attract young people to this field is one of the measures taken by Malaysia to address labour shortage while also contributing to tackling challenges in food security.
Southeast Asia - Thu, April 25, 2024 | 5:10 pm GMT+7
UK supports ASEAN’s economic integration
The UK delegation to ASEAN held a seminar in Jakarta, Indonesia on Wednesday to discuss the ASEAN-UK economic integration programme.
Southeast Asia - Thu, April 25, 2024 | 5:09 pm GMT+7
Vietnam considers direct power purchase agreements with no restrictions on capacity, usage
A draft decree on direct power purchase agreements (DPPAs) between producers and large consumers via their own power lines has no caps on capacity, connection voltage level and intended usage.
Energy - Thu, April 25, 2024 | 5:07 pm GMT+7
Indonesian central bank raises interest rates to highest level in 7 years
Bank Indonesia (BI) on Wednesday raised interest rates to their highest level in seven years.
Southeast Asia - Thu, April 25, 2024 | 4:58 pm GMT+7
Bosch Vietnam, RMIT University to foster tech-driven workforce development
Engineering firm Bosch Vietnam will collaborate with Royal Melbourne Institute of Technology Vietnam (RMIT Vietnam) to provide students with skills and knowledge to meet changing demands in a “technology-driven landscape.”
Companies - Thu, April 25, 2024 | 4:27 pm GMT+7
Northern Vietnam port city okays $368 mln investment by South Korean firms
The northern port city of Hai Phong granted investment certificates Wednesday to eight Korean-invested projects worth around $368 mln at a forum held in Seoul.
Industries - Thu, April 25, 2024 | 4:03 pm GMT+7
AI giant Nvidia explores Vietnam investment expansion opportunities
U.S. chip and artificial intelligence giant Nvidia says it will consider expanding investment in Vietnam after a high-ranking delegation ends a fact-finding trip to the country.
Industries - Thu, April 25, 2024 | 3:13 pm GMT+7
Construction giant Vinaconex plans rights issue, capital base hike in 2024
Vinaconex, among Vietnam’s top construction companies, plans to issue nearly 120 million shares to existing shareholders at VND10,500 ($0.41) apiece this year.
Companies - Thu, April 25, 2024 | 3:03 pm GMT+7
Vietnam’s central province okays S Korea’s SK E&S to process LNG-to-power project
The central coastal province of Quang Tri, SK E&S under South Korean chaebol SK, and Vietnamese conglomerate T&T Group have agreed to cooperate in investment, trade, energy transition, and green growth.
Energy - Thu, April 25, 2024 | 10:31 am GMT+7
Heineken Vietnam’s Q1 revenue expands amid national market decline
The beer market in Vietnam declined by a mid-single-digit in the first quarter of this year, but Heineken’s net revenue (per before exceptional items and amortization-beia formula) was up in the mid-teens, the Dutch brewer said Wednesday.
Companies - Thu, April 25, 2024 | 8:18 am GMT+7
Vietnam fourth largest host of Apple suppliers in the world
Vietnam hosted 35 Apple suppliers as of the end of fiscal year 2023, up from 25 a year earlier, the American tech giant says.
Industries - Thu, April 25, 2024 | 7:57 am GMT+7
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
Southeast Asia - Wed, April 24, 2024 | 10:19 pm GMT+7
Rail connects Vientiane, China's Guizhou province
The Guiyang-Laos tourist train will be launched on May 8, signifying a pivotal step in boosting tourism and cultural ties between China and Southeast Asia.
Southeast Asia - Wed, April 24, 2024 | 10:18 pm GMT+7
Vinhomes targets after-tax profit of $1.38 bln in 2024 as market warms up
Vinhomes, a major housing developer under private conglomerate Vingroup, targets to earn an after-tax profit of VND35 trillion ($1.38 billion) this year, up 4.4% year-on-year, given more positive signals from the local real estate market.
Companies - Wed, April 24, 2024 | 10:13 pm GMT+7
Vinh Phuc province officials disciplined for investment project violations
Dozens of officials in Vinh Phuc province have faced disciplinary actions by the Central Inspection Committee for violations related to investment projects.
Politics - Wed, April 24, 2024 | 8:19 pm GMT+7