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This is part of a resolution on a number of pilot mechanisms and policies to remove obstacles in science, technology, innovation and national digital transformation, which was passed by the National Assembly on February 19.

Such a plant must come into operation prior to December 31, 2030, according to the resolution.

Viet Nam aims to establish at least 300 design enterprises, three semiconductor chip manufacturing plants, and 20 semiconductor product packaging and testing plants by 2050.

By the end of 2024, Viet Nam was home to 174 FDI projects in semiconductor sector with total registered capital of approximately US$11.6 billion.

The total revenue of Viet Nam's semiconductor industry was estimated at US$18.23 billion in 2024, a year-on-year increase of 11.5 percent./.