Vietnam’s semiconductor industry is predicted to breach US$6.16 billion in value by 2024 according to market research company, Technavio. This is despite the impact of lockdowns during the pandemic on the country’s microelectronics industry. Technavio also anticipates that the region’s chip sector will progress at a compound annual growth rate (CAGR) of 19 percent by 2024.
According to Digitimes Asia, Vietnam’s thriving semiconductor manufacturing industry can be credited to the government support and planning which can be traced back to 2009 with the launch of the first integrated circuit development programme. Today, affordable skilled labour and attractive financial incentives make the country
a favourable destination to set up operations.
Although operations of leading semiconductor companies such as Samsung and Intel were disrupted during the lockdowns, the semiconductor industry is set to recover its momentum with the Vietnamese government easing restrictions starting 30 September.
