Vietnam to implement national strategy on semiconductor industry growth

The Information and Communications Ministry yesterday held the 5th National Forum on Digital Enterprises Development 2023 (VFTE 2023) in Vietnam.

Producing semiconductor circuit boards at UMC Vietnam Electronics Co. Ltd. in Tan Truong Industrial Park (sited in Cam Giang District of Hai Duong Province) (Photo: SGGP)

The 5th National Forum, called Make-in-Vietnam Forum, is themed ‘Developing Digital Applications for Digital Economy Growth – Driving Force for Economic Development and Labor Performance Improvements’.

In his speech, Minister of Information and Communications Nguyen Manh Hung reported that since 2019, the digital technology industry in Vietnam has seen significant and encouraging rises.

The number of technological businesses has increased by 30 percent, and the revenues from these enterprises have experienced a corresponding rise of 32 percent. The proportion of Make-in-Vietnam digital technology has grown from 21 percent to 29 percent.

Particularly, software production for foreign countries has gone up by 43 percent. Vietnam now has more than 1,400 businesses in this field, with a revenue gradually reaching US$10 billion.

Minister Hung stressed that the year of 2024 will be the first year Vietnam adopts the National Strategy on Semiconduction Industry Growth, being the foundation for the nation to reform its electronics industry.

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