Bac Ninh Targets Semiconductor Industry Revenue of 1.5 Billion USD/Year
Bac Ninh is currently one of the major electronics manufacturing centers in Vietnam. This locality is home to large global corporations and enterprises such as Samsung, Foxconn, Cannon, Amkor, Goertek, etc. Currently, Bac Ninh is attracting investment and implementing a number of projects.
However, Bac Ninh is facing great pressure on human resources for the semiconductor industry. It is expected that the semiconductor industry will need about 10,000 – 15,000 workers in the coming time (by the end of 2030). Regarding infrastructure, Bac Ninh also faces significant challenges. Up to now, the province still has not had a specialized industrial park for semiconductors. In particular, supporting infrastructure, typically ultra-pure water, has not been properly invested in… In the plan for developing the semiconductor industry until 2030, with a vision to 2045, which has just been issued, Bac Ninh strives to become one of the strategic centers of the Vietnamese semiconductor industry, building a modern microchip and semiconductor component manufacturing ecosystem, contributing to improving global competitiveness. In the next 5 years, Bac Ninh aims to attract selective FDI investment, forming at least 1-2 design enterprises, 1 semiconductor chip manufacturing factory and 5 semiconductor product packaging and testing factories; developing a number of specialized semiconductor products in a number of industries and fields. Bac Ninh also aims to have a workforce of over 10,000 engineers and bachelors with appropriate structure and quantity to meet development needs.
To achieve these ambitious goals, Bac Ninh will implement corporate income tax exemption and reduction policies for companies investing in semiconductors. Import tax incentives for components and high-tech equipment for research and production. Bac Ninh province will also apply the “60% Green Stream” mechanism for records, procedures, projects, and tasks for developing the semiconductor industry. In addition, there are specific incentive policies, including: Support for low-interest credit for startups in the semiconductor sector; Establishment of a semiconductor innovation support fund for domestic enterprises; Support for rental costs in industrial parks in the province for semiconductor manufacturing enterprises.
