Vietnam should shift to semiconductor design: US expert

By Tri Duc
Sat, October 28, 2023 | 11:52 am GMT+7

Vietnam already has experience in the semiconductor sector such as assembling chips, so the country should move on to designing chips, a task with high potential, said John Neuffer, president and CEO of the U.S. Semiconductor Industry Association (SIA).

The executive made the statement on Friday during a meeting with authorities of the northern province of Bac Ninh.

Vietnam is an attractive market for the semiconductor sector, so the SIA will continue its cooperation with the country, he added. The executive also provided recommendations and experiences to Bac Ninh authorities on how to promote the sector.

John Neuffer (left), president and CEO of the U.S. Semiconductor Industry Association (SIA), at a meeting with Bac Ninh authorities in the province, northern Vietnam, October 27, 2023. Photo courtesy of Lao Dong (Labor) newspaper.

John Neuffer (left), president and CEO of the U.S. Semiconductor Industry Association (SIA), at a meeting with Bac Ninh authorities in the province, northern Vietnam, October 27, 2023. Photo courtesy of Lao Dong (Labor) newspaper.

For his part, Nguyen Anh Tuan, chief of Bac Ninh's Party Committee, said the province is striving to develop the semiconductor sector. So far, it has made preparations, such as installing 4G stations to cover the whole province, establishing three 5G stations for trial operations, deploying an information-technology park, and researching policies to build a strong workforce to serve the sector.

Tuan asked the SIA to connect more American semiconductor firms to Bac Ninh and help with workforce training. Bac Ninh will work with the SIA to hold a semiconductor conference in December, the leader added.

Bac Ninh is home to global companies including Amkor and Samsung, also two members of the SIA. On October 11, Amkor Technology Inc., a leading provider of semiconductor packaging and test services, held a grand opening for its newest factory in Bac Ninh.

The Vietnamese facility is set to become Amkor’s most extensive facility, covering 57 acres (23.1 hectares) in Yen Phong 2C Industrial Park. Beginning with Advanced System in Package (SiP) and memory production, the factory will offer turnkey solutions, from design to electrical testing.

Samsung's four subsidiaries in Vietnam made a total profit of KRW2,999 billion ($2.26 billion) in the first half of this year, down 11.2% year-on-year, according to the South Korean tech giant's interim business report. Its two facilities in Bac Ninh are Samsung Electronics Vietnam (SEV) and Samsung Display Vietnam (SDV).

In the first half of 2023, Samsung Electronics Vietnam's profit fell 2% to KRW910.2 billion ($696.5 million) from KRW928.4 billion ($700.2 million) in the same period last year. Meanwhile, profit at Samsung Display Vietnam tripled to KRW570.5 billion ($430.3 million).

Registered foreign direct investment (FDI) in Vietnam hit $25.76 billion in the year to October 20, up 14.7% year-on-year, according to the Ministry of Planning and Investment. Regarding receivers, the leader was northern province of Quang Ninh with $3.09 billion, up 41.3% year-on-year. Bac Ninh came seventh with $1.32 billion, down 30.7% year-on-year.

Comments (0)
  • Read More
Livestock major Dabaco invests in 8.2-hectare dry port in northern Vietnam

Livestock major Dabaco invests in 8.2-hectare dry port in northern Vietnam

Vietnam’s leading livestock firm Dabaco has invested in an 8.2-hectare inland container depot (ICD) in Bac Ninh province, an emerging manufacturing hub in northern Vietnam and home to a Samsung Electronics plant.

Infrastructure - Sat, March 29, 2025 | 10:51 am GMT+7

Phuong Tien Minh appointed CEO of life insurer FWD Vietnam

Phuong Tien Minh appointed CEO of life insurer FWD Vietnam

FWD Group Holdings Limited has appointed Phuong Tien Minh as CEO of FWD Vietnam Life Insurance Company Limited (FWD Vietnam), effective Thursday, March 27.

Finance - Sat, March 29, 2025 | 10:40 am GMT+7

Vietnam's Deputy PM backs formation of free trade zone in Binh Dinh province

Vietnam's Deputy PM backs formation of free trade zone in Binh Dinh province

Vietnam’s Deputy Prime Minister Nguyen Chi Dung on Friday expressed his support for an early study of a free trade zone in Phu My Port area, the south-central province of Binh Dinh.

Economy - Sat, March 29, 2025 | 8:25 am GMT+7

Vietnam offers numerous advantages for Skoda Auto's investment: executive

Vietnam offers numerous advantages for Skoda Auto's investment: executive

Vietnam offers a range of advantages for investment by Czech automaker Skoda Auto, including its seaport system, logistics infrastructure, and skilled labor, the company’s chairman and CEO Klaus Zellmer said on Thursday.

Industries - Fri, March 28, 2025 | 7:33 pm GMT+7

Vietnam plans to cut import tax for LNG to 2%

Vietnam plans to cut import tax for LNG to 2%

Vietnam’s Ministry of Finance is drafting a decree on preferential import tax for some products, including a proposal of 2% tax rate for LNG.

Energy - Fri, March 28, 2025 | 4:31 pm GMT+7

AES’s $2.1 bln LNG power project needs solutions to meet deadline: Vietnam authorities

AES’s $2.1 bln LNG power project needs solutions to meet deadline: Vietnam authorities

The 2,250-MW Son My 2 LNG-fired power project, invested by the U.S.'s AES and state-run Petrovietnam subsidiary PV Gas, “needs solutions” to meet its deadline.

Energy - Fri, March 28, 2025 | 4:06 pm GMT+7

Over $9 bln pledged for investment projects in central Vietnam province Binh Dinh

Over $9 bln pledged for investment projects in central Vietnam province Binh Dinh

Binh Dinh province on Friday handed over MoUs on investment cooperation, in-principle approvals and investment registration certificates to 62 projects worth over VND231 trillion ($9.03 billion).

Industries - Fri, March 28, 2025 | 4:05 pm GMT+7

Vietnam's giant Vingroup eyes mullti-billion-dollar renewable, LNG power projects

Vietnam's giant Vingroup eyes mullti-billion-dollar renewable, LNG power projects

Vietnam's leading private conglomerate Vingroup is seeking the government's permission to develop seven renewable energy projects worth $20-25 billion and a $5.5 billion LNG-fired power project from 2025-2030.

Energy - Fri, March 28, 2025 | 1:09 pm GMT+7

While the buzz around a market upgrade is back, who is this milestone for?

While the buzz around a market upgrade is back, who is this milestone for?

A key issue for the Vietnamese stock market is the underdevelopment of the institutional investor base. The dominance of retail investors can create heightened volatility, which, in turn, reduces the incentive for high-quality companies to list on the stock exchange, writes Gary Harron, head of securities services at HSBC Vietnam.

Consulting - Fri, March 28, 2025 | 10:31 am GMT+7

Vietnam's private lender VIB seeks strategic shareholders: chairman

Vietnam's private lender VIB seeks strategic shareholders: chairman

Vietnam International Bank's (VIB) board of directors is now in discussions with banks and investment funds to find suitable partners for the lender, ensuring a mutually beneficial partnership that goes beyond finance.

Banking - Fri, March 28, 2025 | 8:31 am GMT+7

Vietnam tech giant FPT opens semiconductor R&D center in central Vietnam

Vietnam tech giant FPT opens semiconductor R&D center in central Vietnam

Vietnam’s leading tech group FPT on Thursday inaugurated its high-tech and semiconductor R&D center at the Danang Software Park No. 2 in the central city of Danang.

Industries - Fri, March 28, 2025 | 8:00 am GMT+7

HCMC's international financial center development to be phased out: city leader

HCMC's international financial center development to be phased out: city leader

Ho Chi Minh City aims to become an international financial center, with related development plan divided into three phases, said Vo Van Hoan, its Vice Chairman.

Economy - Thu, March 27, 2025 | 11:11 pm GMT+7

Car producers in Thailand postpone export models

Car producers in Thailand postpone export models

Car manufacturers in Thailand have decided to delay making some models for export due to U.S. President Donald Trump's new tariff policy.

Southeast Asia - Thu, March 27, 2025 | 10:17 pm GMT+7

Indonesia approves $7 bln budget for food security in 2025

Indonesia approves $7 bln budget for food security in 2025

Indonesia’s Ministry of Finance on Wednesday announced that the government has approved a budget of IRD118 trillion ($7.1 billion) for food security programs in 2025.

Southeast Asia - Thu, March 27, 2025 | 10:14 pm GMT+7

Honda Vietnam rolls out first domestically produced electric scooter

Honda Vietnam rolls out first domestically produced electric scooter

Honda Vietnam has officially launched its first domestically produced electric scooter, the ICON e:, marking a significant step in the company’s electrification and sustainable mobility strategy in Vietnam.

Southeast Asia - Thu, March 27, 2025 | 10:09 pm GMT+7

Vietnam's Quang Ngai seaport system requires over $420 mln investment by 2030

Vietnam's Quang Ngai seaport system requires over $420 mln investment by 2030

The seaport system in the central Vietnam province of Quang Ngai will need about VND10.83 trillion ($423.54 million) in investment by 2030, according to the detailed 2021-2030 development plan for local seaport land and water areas, with a vision to 2050.

Southeast Asia - Thu, March 27, 2025 | 10:06 pm GMT+7