Vietnam's Rare Earth Resources Propel Its Semiconductor Industry
The semiconductor industry, with a revenue of 18.2 billion USD by 2024, is a field that receives special attention from the Government, while promoting the development of the industrial real estate sector.
One of the important factors that helps Vietnam stand out in the semiconductor industry is its abundant rare earth resources, ranking second in the world after China in terms of output. This is the basic source of raw materials for the electronics industry and semiconductor chip manufacturing, opening up great opportunities for the sustainable development of the industry in Vietnam.
In particular, the Government is having many favorable policies to develop the semiconductor industry in Vietnam. The program for developing human resources for the semiconductor industry until 2030, with a vision to 2050, has set a goal of training at least 50,000 human resources with university degrees or higher, meeting the requirements of developing the semiconductor industry.
The National Assembly Standing Committee also approved the establishment of an Investment Support Fund for high-tech projects, aiming to stabilize the investment environment, enhance competitiveness and attract strategic investors.
At the same time, the Government approved the Power Plan VIII, ensuring stable power supply for investment projects and aiming to ensure sustainable energy. Localities and management boards of industrial parks, economic zones and high-tech zones have committed to ensuring adequate supply of electricity and water to support the needs of businesses in the semiconductor industry.
