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Vietnam is ready to welcome the wave of investment in smart manufacturing chains.

28/03/2024

(TBTCO) – The fields of electronics manufacturing, semiconductor chips, and smart manufacturing are currently among the prioritized sectors for investment attraction in Vietnam. The government has tasked ministries and sectors with implementing numerous tasks, demonstrating readiness and desire to embrace new investment waves in this industry in Vietnam.

This affirmation comes from Deputy Minister of Planning and Investment Tran Duy Dong, while participating in the Vietnam 2024 Global Smart Manufacturing and Supply Chain Forum, organized by A+ Industrial Real Estate Investment and Leasing Joint Stock Company in coordination with other organizing units. Held throughout the day on March 26 in Hanoi, the forum attracted over 300 international enterprises and around 600 delegates in attendance.

Deputy Minister of Planning and Investment Tran Duy Dong spoke at the forum.

Speaking at the forum, Deputy Minister Tran Duy Dong provided updates to investors on Vietnam’s foreign investment attraction policies. According to the Deputy Minister, Vietnam aims to attract selective investment targeting high-tech projects with high added value and spillover effects, connecting with domestic enterprises. Innovation and smart manufacturing are among the prioritized sectors for investment attraction in the current period.

Specifically, the fields of electronics manufacturing, semiconductor chips, and smart manufacturing are currently among the prioritized sectors for investment attraction. The government has assigned ministries and sectors to implement various tasks, demonstrating readiness and desire to embrace new investment waves in this industry in Vietnam.

In particular, the government has tasked the Ministry of Information and Communications with developing the Semiconductor Industry Development Strategy in Vietnam until 2030; and assigned the Ministry of Planning and Investment to lead the development of a Human Resources Development Project for the semiconductor industry in Vietnam until 2030, with a very specific goal of training 50,000 semiconductor engineers…

According to the Deputy Minister of Planning and Investment, competition among countries in the region and globally for attracting FDI, especially in the electronics and semiconductor industries, is fierce because of the immense potential of these sectors. “Countries that are proactive, have appropriate and decisive policies will be able to seize and capitalize on the new wave,” Deputy Minister Tran Duy Dong evaluated.

In addition to various support mechanisms for high-tech industries, the National Assembly has also passed a resolution, tasking the Government with drafting a decree on investment support funds, which is expected to provide significant support for high-tech, electronics, and semiconductor sectors. Currently, the Ministry of Planning and Investment is expeditiously drafting this decree and will submit it to the Government for issuance in the near future, the Deputy Minister added.

At the local level, necessary conditions to attract investment have also been ensured. Localities have intensified land clearance efforts, creating clean land plots to supply to electronics and semiconductor enterprises. Strategic transportation infrastructure connecting economic centers, seaports, and airports is also being strengthened…

The forum attracted over 300 international businesses along with approximately 600 delegates in attendance..

Recognizing the importance of the discussion topic at the forum, Dr. Le Minh Nghia, Chairman of the Vietnam Financial Consulting Association, noted that smart manufacturing is becoming an inevitable trend with the application of digital technology in production activities to enhance product quality, services, and labor productivity, significantly reduce costs, protect the environment, as well as strengthen competitiveness and efficiency in business.

Investment projects in Vietnam, especially those in smart manufacturing, high-knowledge industries, artificial intelligence, high technology, and support industries, always receive special attention and support from the Government, committed to creating a fair and favorable business environment for the development of enterprises.

At the forum, representatives of domestic and foreign enterprises, associations, and investors put forward proposals and recommendations on investment incentive policies for the semiconductor industry such as tax policies; intellectual property protection for new technology industries; mechanisms for research and development (R&D) centers; digital infrastructure development…

Based on the proposals of the enterprises, the Ministry of Planning and Investment will collaborate with relevant ministries and sectors to synthesize and research, and report to the Prime Minister in the near future to propose investment policies with high competitiveness.

Delegates participating in the forum acknowledge the significant importance of organizing the Vietnam 2024 Global Smart Manufacturing and Supply Chain Forum in attracting and encouraging international investors and businesses to invest, fostering connections, and promoting Vietnam’s participation in the global smart manufacturing and supply chain. The focus is on the application of innovative technology and efficient management to enhance the competitiveness of the supply chain in Vietnam; establishing and strengthening cooperative relationships with international businesses and organizations…

Source: thoibaotaichinhvietnam.vn

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