Vietnam welcomes investment in hi-tech, semiconductor industries: PM

Vietnam welcomes and encourages investments in hi-tech and semiconductor industries by providing appropriate mechanisms, incentives and modern infrastructure, said Prime Minister Pham Minh Chinh.

Prime Minister Pham Minh Chinh (R) and Group Vice President of Global Operations at Lam Research Karthik Rammohan

PM Chinh made the statement at a reception in Hanoi on March 20 for Karthik Rammohan, Group Vice President of Global Operations at Lam Research, one of the leading US semiconductor manufacturing equipment providers, and representatives of the Seojin Company of the Republic of Korea. The two companies are collaborating in semiconductor chip production in Vietnam.

Lam Research, headquartered in California, recorded a revenue of 19 billion USD in 2022. As of March 2023, it had employed over 18,700 employees.

Rammohan said Lam Research is looking to expand operations and diversify its supply chain in Asia. In Vietnam, the company is planning to collaborate with Seojin, which already has factories in northern Bac Ninh and Bac Giang provinces, to develop factories and establish a supply chain with an investment of 1-2 billion USD in the first phase. After the first phase, it will possibly invest directly or expanding its operations in the Southeast Asian country.

He expressed interest in Vietnam's investment promotion policies and programmes that could support the development of a domestic supply chain ecosystem for the semiconductor industry.

PM Chinh highlighted sci-tech and innovation as important cooperation areas in Vietnam's comprehensive strategic partnerships with both the US and the RoK. He pointed to Vietnam's efforts in training a workforce of 50,000-100,000 engineers by 2030 to meet the demand of enterprises.

Meanwhile, major tech players such as Samsung, Intel, and Foxconn are already present in Vietnam, he said, adding that many other leading global corporations are continuing to explore opportunities and investment in the country.

In the spirit of harmonising interests and sharing risks for mutual development, he expected that both companies would focus on research and development (R&D) activities, technology transfer, thus helping to develop a robust semiconductor ecosystem in Vietnam.

He called for continued close collaboration between the companies and relevant Vietnamese authorities and localities to ensure a smooth and legal investment process./.

VNA

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