Vietnam – new stop for semiconductor producers

Source: VNA

16:13 | 11/08/2022 Import-Export Follow english.haiquanonline.com.vn on

Samsung Electronics’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry.

Vietnam – new stop for semiconductor producers hinh anh 1

Illustrative image (Source: VNA)

Samsung Electronics’ plan to manufacture semiconductor products in Vietnam has sparked the hope that the Southeast Asian nation will be a new stop for the semiconductor industry.

During his recent trip to Vietnam, CEO Roh Tae-Moon unveiled that Samsung will make an additional investment of 3.3 billion USD in the country this year, enabling the Korean technology giant to start producing semiconductor components in Vietnam by July 2023.

In fact, part of the investment commitment has been materialised, with 841 million USD for Samsung Complex HCMC-SEHC in Ho Chi Minh City and 1.18 billion USD for Samsung Electro-Mechanics in the northern province of Thai Nguyen.

Since 2019, the tech giant has announced that it will raise investment in the semiconductor industry to a whopping 151 billion USD.

When Vice Chairman Lee Jae-yong visited Vietnam in 2020, host leaders expressed their wish that Samsung will invest in the semiconductor sector in Vietnam, along with mobile phones and home appliances.

Vietnam – new stop for semiconductor producers hinh anh 2

Vietnam – new stop for semiconductor producers (Photo: baoxaydung)

Prime Minister Pham Minh Chinh also reiterated the wish during his reception for Roh earlier this month.

US-based semiconductor chip maker Intel Corporation has also poured 1 billion USD in an assembly and testing facility in Vietnam, and plans to expand its investment in the country.

Its CEO Patrick Gelsinger told PM Chinh in Hanoi last May that Vietnam is an attractive destination for investors thanks to its dynamic economy, high potential and numerous cooperation chances in the areas of Intel’s strengths such as manufacturing, research and development.

Therefore, Intel decided to scale up its investment by multiple times, he affirmed.

Along with Samsung and Intel, other investors have also planned to produce semiconductor components in Vietnam, like Amkor and Hana Micron, both from the RoK./.

Source: VNA

en.vietnamplus.vn

Tags:

Related News

Top legislator’s official visit expected to help boost Vietnam-Bulgaria multifaceted cooperation

14:37 | 22/09/2023 Headlines

National Assembly (NA) Chairman Vuong Dinh Hue’s upcoming official visit to Bulgaria is expected to help consolidate and enhance time-tested friendship and multifaceted cooperation between the two countries in general and the two parliaments in particular.

Int"l conference discusses Vietnam-Laos-Cambodia cooperation in digital economy

15:21 | 21/09/2023 Import-Export

More than 100 Vietnamese, Lao, and Cambodian experts, managers, and diplomats joined an international conference on the three countries’ trade and investment cooperation given the digital economy, which took place in Ho Chi Minh City on September 20.

Vietnam becomes one of first nations to sign High Seas Treaty

15:14 | 21/09/2023 Headlines

Vietnamese Minister of Foreign Affairs Bui Thanh Son on September 20 signed the United Nations agreement on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction, making Vietnam one of the first countries to sign the international-legally binding instrument under the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

PM suggests Vietnam, US create cooperation breakthroughs

15:45 | 20/09/2023 Headlines

Prime Minister Pham Minh Chinh suggested Vietnam and the US create breakthroughs in cooperation in science-technology, innovation, and education-training at a meeting with US Trade Representative Katherine Tai in Washington D.C. on September 19.

Latest News

Good news for Vietnam’s tra fish exports to US

14:40 | 22/09/2023 Import-Export

Vietnam’s tra fish exports to the US is expecting a better outlook in the remaining months of this year after getting some good news.

Connected transportation creates motivation for economic development

10:41 | 22/09/2023 Import-Export

VCN - From the beginning of the year until now, many key transportation projects across the country have been started, constructed and put into operation, expected to create new momentum for key economic regions and driving force for economic development across the country.

Fertiliser imports reach two-year high in August

15:18 | 21/09/2023 Import-Export

Vietnam’s fertiliser import volume reached the highest in more than two years in August, according to the General Department of Customs, while prices fell over the previous year.

Maintain "credibility" to stabilize agricultural product exports to the EU

10:00 | 21/09/2023 Import-Export

VCN - As one of the potential markets for Vietnamese agricultural products, the EU market share for Vietnamese agricultural products has recently developed as much as expected.

More News

Hanoi focuses on building rice trademark

15:47 | 20/09/2023 Import-Export

Hanoi is working to cultivate high-quality rice varieties in 80% of the local rice farming area in a bid to build trademark for the product in the 2021-2025 period.

There will be a system to ensure transactions in e-commerce

09:08 | 20/09/2023 Import-Export

VCN – To support the protection of parties involved in transactions using online payment, the Center for Informatics and Digital Technology (Bureau of E-commerce and Digital Economy, Ministry of Industry and Trade) is expected to launch the system to ensure e-commercial transactions.

Slow removal of IUU "yellow card", loss of many millions of dollars

16:11 | 19/09/2023 Import-Export

VCN - It is expected that in October 2023, the European Commission (EC) Inspection Team will conduct the fourth assessment on the implementation of strong measures against illegal, unreported fishing and not according to Vietnam's (IUU) regulations. This is a golden opportunity for Vietnam to remove the "yellow card" warning for exploited seafood.

Vietnam plays important role in supply chains of major global sporting goods brands

16:09 | 19/09/2023 Import-Export

Vietnam plays an important role in the supply chains of major sporting goods brands such as Adidas and Nike, which are taking actions to promote green and sustainable production in the country, heard a recent workshop held in Geneva, Switzerland.

OCOP Market – “Launching site” to help Vietnamese agricultural products fly high

09:56 | 19/09/2023 Import-Export

VCN - Only the livestream “OCOP Market - Dong Thap - Land of the Red Lotus” attracted more than 24 million visits, 563,000 livestream viewers, bringing in more than VND 556 million in revenue. The products promoted in the livestream came from 12 typical subjects with nearly 35 specialty agricultural products of all kinds such as Linh fish sauce, dried fruit, rice vermicelli... This model is considered as extended arm help local specialties including agricultural products, reach consumers across the country, opening up new opportunities to access international markets and increase revenue.

Vietnam has become a strategic destination in the supply chains of many large corporations

09:54 | 19/09/2023 Import-Export

VCN - Many corporations, retail and wholesale distribution channels are promoting diversification strategies, ensuring sustainable supply and have chosen Vietnam as a strategic location in their global supply chains.

The bravery of billion-dollar enterprises

17:18 | 18/09/2023 Import-Export

VCN - Becoming a large-scale enterprise has never been without its challenges, even in the current era. Despite the market's numerous fluctuations, as of the end of August 2023, 50 companies have reached a market capitalization of over US$1 billion, among which 11 units have surpassed the US$5 billion mark.

Expectations on the driving force of public investment

17:18 | 18/09/2023 Import-Export

VCN - Statistics on registration and dissolution show that businesses are still facing very difficult times. Therefore, public investment is still expected to be the driving force leading economic recovery.

Vietnam, China"s Hong Kong promote business connections

17:16 | 18/09/2023 Import-Export

The Institute for Economic and Trade Development Research under the Hanoi Department of Science and Technology has coordinated with the Hong Kong Productivity Council to organise the Vietnam - Hong Kong Business Networking in Hong Kong, China, offering an opportunity for businesses from both sides to exchanges business initiatives, information about products, markets and promote investment.

Your care

Latest Most read

Good news for Vietnam’s tra fish exports to US

14:40 | 22/09/2023 Import-Export

Vietnam’s tra fish exports to the US is expecting a better outlook in the remaining months of this year after getting some good news.

Connected transportation creates motivation for economic development

10:41 | 22/09/2023 Import-Export

Int"l conference discusses Vietnam-Laos-Cambodia cooperation in digital economy

15:21 | 21/09/2023 Import-Export

Fertiliser imports reach two-year high in August

15:18 | 21/09/2023 Import-Export

Vietnam’s fertiliser import volume reached the highest in more than two years in August, according to the General Department of Customs, while prices fell over the previous year.

Maintain "credibility" to stabilize agricultural product exports to the EU

10:00 | 21/09/2023 Import-Export

VCN - Mr. Dinh Sy Minh Lang, European-American Market Department (Ministry of Industry and Trade) said at the Trade Promotion Workshop to the EU market, "Taking advantage of preferential opportunities for agricultural products from EVFTA in the new contex

Vietnam has become a strategic destination in the supply chains of many large corporations

09:54 | 19/09/2023 Import-Export

VCN - On the morning of September 13, the series of events "Connecting the international supply chain of goods" (Viet Nam International Sourcing 2023), co-chaired by the Ministry of Industry and Trade and Ho Chi Minh City People's Committee, was officiall

Reasons for plunge in the Customs’ revenue

10:46 | 18/09/2023 Import-Export

VCN - According to the Import and Export Duty Department under the General Department of Vietnam Customs has reported notable contents of import and export activities in the first eight months of the year.

Unsustainable goods will be less competitive in the EU market

10:49 | 18/09/2023 Import-Export

VCN - The European Green Deal (EGD) was announced by the European Commission in 2019. The EGD is a package of actions to reduce greenhouse gas emissions and minimize resource use while achieving economic growth.

Slow removal of IUU "yellow card", loss of many millions of dollars

16:11 | 19/09/2023 Import-Export

VCN - The EC's IUU "yellow card" has constantly declined Vietnam's seafood exports to this market from 2017 until now. Comparing the export results of 2017-2019, after 2 years of being affected by the IUU "yellow card", seafood export turnover to the EU m

The bravery of billion-dollar enterprises

17:18 | 18/09/2023 Import-Export

VCN - Listed organizations with a market capitalization of over a billion USD on the stock exchange are not immune to the turmoil either.