September 24, 2024 /SemiMedia/ — Vietnam's Prime Minister has signed a new directive aimed at advancing the country's semiconductor industry, targeting revenues of over $25 billion by 2030, $50 billion by 2040, and surpassing $100 billion by 2050.

The plan outlines a three-phase approach. In the first phase (2024-2030), Vietnam will focus on attracting foreign direct investment (FDI), establishing 100 design firms and at least one semiconductor manufacturing facility, with an expected value addition of 10%-15%.

The second phase (2030-2040) will combine self-reliance with foreign investment, aiming for 200 design firms and two manufacturing plants, projecting revenues exceeding $50 billion and value addition of 15%-20%.

In the final phase (2040-2050), Vietnam aspires to emerge as a leader in the semiconductor sector, targeting 300 design firms and three manufacturing plants, with revenues anticipated to exceed $100 billion and value addition reaching 20%-25%. To achieve these objectives, the directive also outlines five key tasks, including the development of specialized chips, the promotion of the electronics industry, and the attraction of talent and investment in the semiconductor field.