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Saturday, June 22, 2024

A new chips powerhouse

By Phung Minh Tuan, Ph.D.

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The elevation of the Vietnam-U.S. relationship to a comprehensive strategic partnership is expected to open up new cooperation opportunities, especially in science-technology and innovation, with the semiconductor industry playing a key role. Why is Vietnam viewed as holding high potential for this industry, and what should we do to realize such potential? Vietnam and India are considered promising destinations for the global semiconductor industry. These are two markets with a strong domestic demand and favorable conditions to develop a full-fledged ecosystem for the industry. The semiconductor industry in Vietnam is still in its infancy, but has gained initial but encouraging results in attracting foreign investors, helping diversify the industry’s supply chain. There remains, however, a big challenge regarding manpower that needs to be quickly addressed. Momentum for domestic market growth In terms of semiconductor segments in Vietnam, power management integrated circuits (PMIC) hold a market share of nearly 68%, followed by microchips with 29% and radio frequency identification (RFID) systems the remainder. The combined revenue of PMIC and microchips is predicted to jump by 40% in 2020-2025. In terms of applications, consumer electronics takes the lead with a market share of some 62%, information and communication technology (ICT) some 21%, […]
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