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Wednesday, June 26, 2024

U.S. semiconductor firm ventures into Vietnam

By Truc Dao

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HCMC – Lam Research, a leading U.S. semiconductor company, is exploring business opportunities in Asia, including Vietnam, with the aim of diversifying its supply chain in the region.

During a meeting with Prime Minister Pham Minh Chinh on March 20, Karthik Rammohan, Group Vice President and Head of Global Operations at Lam Research, announced the company’s plan to invest in a factory and supply chain in collaboration with Seojin Company, which already has a presence in Vietnam’s northern provinces of Bac Ninh and Bac Giang.

The initial phase of the project will require between US$1 billion and US$2 billion, according to the group vice president. Following this initial investment phase, Lam Research intends to make direct investments in projects in Vietnam as part of its broader business expansion strategy.

During the meeting, PM Chinh reaffirmed the Government’s commitment to completing mechanisms and policies and accelerating the development of modern infrastructure to create a favorable business environment for investors in the semiconductor industry.

Highlighting the significance of research and development (R&D) activities, technology transfer, and the advancement of the semiconductor ecosystem, the prime minister urged investors to prioritize these activities in Vietnam.

Vietnam is currently implementing a training program expected to turn out 50,000 to 100,000 semiconductor engineers for the sector by 2030.

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