The report said the plan is a key step in developing Vietnam's domestic semiconductor capabilities, ensuring technological sovereignty, and integrating into the global chip supply chain, laying the foundation for future growth in technologies driven by advanced electronics and artificial intelligence (AI). Vietnam also hopes to use this to improve its domestic semiconductor R&D, innovation and production capabilities, support defense, high-tech industries and research needs, and promote its long-term vision of achieving technological self-sufficiency by 2050.

This vision is in line with the Semiconductor Development Strategy 2030 recently signed by Vietnam’s Prime Minister, according to Nguyen Khac Lich, director of the ICT Industry Department at the Ministry of Information and Communications. It was also emphasized that in order to attract private investment to enhance Vietnam's local semiconductor expertise, the Vietnamese government provides a number of financial incentives for companies investing in semiconductor manufacturing. Among them, if the project is completed before December 31, 2030, the government will provide it with a direct financial subsidy of 30%, up to 10 trillion VND. The tax preferential policy also allows investing companies to retain up to 20% of taxable revenue for reinvestment, and give priority to allocating land for semiconductor factories without public auction, enabling companies to build high-tech facilities faster.

Currently, Vietnam's advanced technology companies, including Viettel and FPT, have joined the semiconductor race. Among them, Viettel successfully designed Southeast Asia's most advanced 5G chipset, capable of processing 1 trillion calculations per second. FPT is Vietnam's largest technology and IT services group, with revenue exceeding US$1 billion in 2023. Among them, Nguyen Trung Kien, deputy director of Viettel's semiconductor technology department, said that semiconductor technology is the future. As a result, Viettel has been laying the foundation for semiconductor research and production, a move that will make Vietnam globally competitive in semiconductor design and manufacturing.

The report noted that Marvell Technology Vietnam CEO Le Quang Dam also stressed the geopolitical urgency of investing in semiconductors. He pointed out that this is a once-in-a-century opportunity for Vietnam to establish itself as a semiconductor powerhouse. As U.S.-China trade tensions persist and the global semiconductor supply chain is reshaped, Vietnam hopes to attract foreign investment from major semiconductor companies looking to diversify their supply sources. At this stage, countries including the United States, South Korea and Japan have pledged to strengthen their chip partnership with Vietnam and regard it as a strategic alternative to China.

The report stressed that despite the government's optimistic push, Vietnam faces some challenges, such as a shortage of highly skilled semiconductor engineers, high initial investment costs for chip manufacturing plants, and fierce global competition from established chip giants such as Taiwan, South Korea and the United States. However, with government support, private sector investment and a growing high-tech workforce, the Vietnamese government believes that Vietnam's semiconductor industry could become a key player in the global chip ecosystem by 2050.