Bright Future for "Made in Vietnam" Chips

The US Bureau of Statistics estimates that chips orginated from Asian region accounts for 83% in the US. Among these, the number of "Made in Vietnam" chips ranks in 3rd place.
May 19, 2023 | 06:31

According to the Vietnam's Ministry of Information and Communications, that the volume of semiconductor chips exported from Vietnam to the US increased by nearly 75% in 2022 and early 2023.

In particular, the imported chips from Vietnam reached US $321.7 million in February 2022. One year later, the value increased to US 562.5 million, up 74.9%, accounting for 11.6% market share. This is the 7th consecutive month that Vietnam have reached more than 10% of the chip market share.

This is a positive sign as Vietnam is diversifying its supply globally, which opens opportunities for high-level workers to have more jobs, There are many benefits Vietnam can enjoy by being one of the US's biggest chip exporters, such as increased export revenue and boosting the capacity of industry-related sectors.

Chip production for both domestic consumption and export

Bright Future for
A lab of the R&D Center at the HCMC Hi-tech Zone (Photo: Vietnamnet).

Although most exported chips to the US are recorded to be from FDI enterprises such as Intel, Samsung, and Synopsys, the domestic enterprises showed sign of joining the supply of semiconductor chips for markets other than the US.On example is FPT's first contract of 25 million units of chip to be exported starting 2025. Another example is Viettel's research and production of chips for the domestic market and towards export from the fall of 2022.

At the regular Government meeting in early April 2023, the Prime Minister assigned the Ministry of Planning and Investment to complete the National Innovation Center as a priority.

According to Sai Gon Giai Phong News, in the medium and long term, the world economy relies on memory chips for development, the sooner the national policy on legal regulations for memory chips is built, the details will support exports, creating more jobs and new positions for the "made in Vietnam" product to grow stronger.

The Ministry of Planning and Investment is assigned to carefully develop a program on chip production is an "open" signal to develop the memory chip economy in order to supply domestically and join the global supply chain in this new segment.

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