Vietnam aims to have at least one semiconductor fabrication plant and 10 packaging plants by 2030, and will launch a fund to help foreign investors mitigate the impacts of the global minimum business tax, the government said on the weekend.
The country's semiconductor industry is targeting revenue of $25 billion by 2030, the government said in a statement after the release of its semiconductor industry development strategy on Saturday.
The Southeast Asian country, a regional manufacturing hub, is seeking to move to high-tech industries from labor-intensive ones. As part of its drive, the country aims to have 50,000 semiconductor engineers by 2030, the government said.
Several global electronics and semiconductor firms including Intel, Samsung, Amkor Technology, Qualcomm and Marvell Technology have facilities in the country.
Beyond the initial 2030 target, the government said it plans to have at least three semiconductor fabrication plants and 20 packaging plants, with annual revenues of $100 billion, by 2050.
In July, the Ministry of Planning and Investment said it was finalizing a draft plan to set up a fund to help attract foreign investment into high-tech industries and maintain the country's competitiveness.
