The Vietnamese government has approved funding of 12.8 trillion VND ($500 million) to build a small-scale semiconductor chip manufacturing plant, with the goal of developing a domestic chip industry and ensuring supply chain resilience.
Nguyen Khac Lich, director of the Department of Information and Communications Technology, stated that the government seeks to attract private investments in local semiconductor manufacturing by offering financial incentives to companies.
He added that the government would support 30 percent of the total investment directly from the central budget, provided if the plant begins production before December 31, 2030. The total support amount would not exceed 10 trillion VND ($391.6 million).
In addition, up to 20% of the enterprise's taxable income can be used for reinvestment in the plant's development. Furthermore, land for the semiconductor factory will be allocated without going through public auctions.
The Prime Minister will directly oversee the selection of private companies to partner with the government on this initiative.
"To accelerate semiconductor research, design, and production, Vietnam will invest in a state-supported semiconductor fabrication facility, strengthening its long-term vision of achieving technological self-sufficiency by 2050,"- he said highlighting that the initiative aligns with Vietnam’s Semiconductor Development Strategy to 2030, recently signed by the Prime Minister.
The Vietnamese government has set an ambitious goal of training 50,000 semiconductor engineers by 2030, including:
15,000 engineers for semiconductor design
35,000 engineers for semiconductor manufacturing
Countries like the United States, South Korea, and Japan have already pledged to strengthen chip partnerships with Vietnam, viewing it as a strategic alternative to China and Taiwan.
The foreign ministers of Cambodia and Thailand have told Chinese Foreign Minister Wang Yi that they are willing to pursue a ceasefire, as tensions fla...
AnewZ has premiered The Oligarch’s Design, a long-form investigative documentary marking the launch of AnewZ Investigations, the channel’s new edi...
The Conservative Party says it would cut funding for green energy projects and redirect the money into defence, arguing the UK needs to be ready for w...
Kazakh President Kassym-Jomart Tokayev’s first official visit to Japan marks a notable moment in relations between the two countries, reflecting a s...
An international scientific-practical congress marking the 90th anniversary of the Azerbaijan State Advanced Training Institute for Doctors named afte...
Vietnam is working to sign a trade agreement with the United States soon, Deputy Prime Minister Bui Thanh Son said on Wednesday, as a new round of negotiations gets underway in Washington.
Typhoon Kalmaegi tore through Southeast Asia this week, killing at least 188 people in the Philippines before striking Vietnam’s central coast, where powerful gusts ripped roofs from homes, toppled trees, and left streets flooded and thousands without power.
Residents of Hoi An, Vietnam’s UNESCO-listed ancient town, began cleaning up on Saturday as floodwaters receded following days of torrential rain that brought deadly flooding and widespread destruction to the central region.
At least 13 people have been killed and 11 remain missing after record rainfall caused severe flooding across central Vietnam, submerging homes and disrupting transport in the historic cities of Hue and Hoi An.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
European Union foreign policy chief Kaja Kallas has warned that attempts to reach a peace agreement in Ukraine are being undermined by Russia’s continued refusal to engage meaningfully in negotiations.
U.S. President Donald Trump delivered a wide-ranging address from the White House in which he sought to highlight what he described as his administration’s achievements while laying the groundwork for his plans for the year ahead and beyond, on Wednesday (18 December).
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment