Vietnam commits $1.08bn to train chip engineers
Vietnam has joined the race to be a destination for the world's leaving chip firms by pledging $1.08 billion for the training of 50,000 semiconductor engineers by 2030.
The pledge is part of the country's 'Semiconductor Industry Human Resources Development Project towards 2030, with a vision to 2045 project. It will combine a mix of state funding and private capital. The aim is to develop 50,000 engineers and 1,300 lecturers of 'international calibre'.
The country's Prime Minister Pham Minh Chinh on April 24 chaired a conference at which the commitment was revealed. Vietnam's Minister of Planning and Investment Nguyen Chi Dung said: "Vietnam is presented with a once-in-a-millennium opportunity to deeply integrate into the global semiconductor industry's value chain. All ministries, localities, businesses, research institutions, and experts, both national and international, must engage collectively to harness this rare opportunity for deep integration into the semiconductor value chain."
Vietnam wants to cultivate a domestic chip industry that will attract industry giants that want to diversify away from Taiwan and China. Like its southeast Asian neighbours, it offers local talent and relatively inexpensive labour/land costs.
Last year, a report by IDC anticipated that Southeast Asia will become a more significant player in the semiconductor assembly and test market, particularly in Malaysia and Vietnam. It projected that, by 2027, Southeast Asia could account for 10% of the world's semiconductor assembly and testing, while Taiwan's share will fall to 47% from 51% in 2022.
In January Evertiq reported that 15 US companies were preparing to invest USD 8 billion in Vietnamese facilities.
