Mariam Sherman, Country Director for Vietnam, Laos, and Cambodia at the World Bank (WB), recently highlighted Vietnam’s transformation into one of the region’s major manufacturing hubs. Global tech corporations are increasingly establishing production facilities in Vietnam, reflecting the country’s readiness to become a technology hub for Asia.
This transition could create high-quality jobs and spur economic growth.
Sherman expressed optimism about Vietnam’s semiconductor industry, which is developing rapidly and is poised to play an increasingly important role in the global semiconductor supply chain.
“Vietnam’s ambitious national semiconductor strategy demonstrates its capacity to turn the seemingly impossible into reality, as evidenced by its impressive economic achievements,” Sherman noted.
According to her, four key factors will shape the success of Vietnam’s semiconductor strategy:
1. Global trade integration
2. Clean energy production
3. Knowledge transfer
4. Developing a highly skilled workforce
Through partnerships with global players, Vietnam can achieve its semiconductor goals.
Sherman emphasized that the semiconductor industry relies heavily on advanced technology and knowledge transfer. Vietnam must implement proactive policies to foster knowledge sharing in this field while enhancing domestic absorption capacity and training a high-quality workforce.
“Silicon Valley is the birthplace of the digital revolution, where entrepreneurs constantly innovate, and universities supply a steady stream of talent. This is a model Vietnam can emulate,” she suggested.
Vietnam has several foundational advantages to achieve its semiconductor ambitions:
– A young population
– High-quality education
– A growing STEM-trained workforce
Investing in higher education is critical for Vietnam to develop the skilled talent needed to transition from a manufacturing hub to a global high-tech center.
According to Clack Tseng, Vice President and Market Information Lead at the Global Semiconductor Association (SEMI), Vietnam’s GDP growth in recent years has been twice the global average, reflecting strong potential for development.
The association predicts that artificial intelligence (AI) will drive semiconductor demand, with the sector’s growth potentially reaching 20% in the coming years, fueled by advancements in AI and memory chips.
“Over the past decade, the global semiconductor industry has grown at a rate of about 7-8%. Given Vietnam’s GDP growth being twice the global average, its semiconductor growth could also outpace the global rate, boosting the development of Southeast Asia’s semiconductor ecosystem,” Tseng remarked.
Trong Dat
