Universities and experts said that there should necessarily be a national strategy for IC and semiconductor technology training with investment priorities in key schools with strengths in this field.

FPT and Duc Giang Chemicals are expected to have high earnings from the strong wave of investment in semiconductors thanks to the high demand for chips and yellow phosphorus.

The scale of this market is about more than US$600 billion last year, and is forecasted to reach $1.4 trillion by 2029.

Prime Minister Pham Minh Chinh has asked Vietnamese and American enterprises to closely coordinate and give priority to a number of important business fields in Vietnam, especially the semiconductor industry.

Many global tech giants have been pouring billions of US dollar into semiconductor chip production lines in Vietnam in an effort to get the lion’s share of the lucrative industry in the country.

The semiconductor industry is currently flourishing globally, and Vietnam is required to make the best preparations possible to attract multi-billion dollar FDI projects in this field, reports Cong Thuong (Industry and Trade) newswire.

Prime Minister Pham Minh Chinh has assigned four government bodies to collaborate in developing a plan to train around 30,000-50,000 engineers and 100 experts in digital transformation and semiconductor manufacturing.

Vietnam once had a semiconductor manufacturing factory in 1979, which was named Z181. The factory provided semiconductor devices to the Eastern European market.

A number of global semiconductor manufacturers are increasing their presence in Viet Nam, making the Southeast Asian country a rising star in the world semiconductor market.

Vietnam ranks third in Asia in export turnover of semiconductor chips to the US, after Malaysia and Taiwan (China), according to the Ministry of Information and Communications (MIC).

FPT Semiconductor has designed and manufactured three lines of source chips and inked the first contract for 25 million chips in 2024 and 2025 with its partners.

The scarcity of chip supply that began in late 2020 has affected most manufacturing industries.