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Vietnam's Viettel to develop semiconductor industry, prime minister says

Vietnam's Viettel to develop semiconductor industry, prime minister says

Wednesday, April 10, 2024, 17:17 GMT+7
Vietnam's Viettel to develop semiconductor industry, prime minister says
Vietnam’s Prime Minister Pham Minh Chinh speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Photo: Reuters

Vietnamese Prime Minister Pham Minh Chinh has asked military-run telecom company Viettel to develop the semiconductor chip industry in a "more efficient and diverse manner", the government quoted him as saying late on Tuesday.

Several global electronics and semiconductor firm including Intel, Samsung, Amkor, Qualcomm and Marvell have facilities in Vietnam, which has said it wants to set up its first fab by the end of this decade.

Reuters reported last year that Vietnam may support local firms such as Viettel to build fabs with imported equipment.

"Semiconductor chip manufacturing capabilities are currently limited to very few regions in the world and Vietnam is determined to pursue and develop the semiconductor industry, build an ecosystem for this industry," the government cited Chinh as saying in the statement.

"Products developed by Viettel have been and will contribute to creating a foundation to build a self-reliant industry in Vietnam."

The Vietnamese government has said it would roll out a series of tax incentives and set up investment funds this year to bolster the semiconductor industry as part of its plan to ramp up support for the industry.



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