Asia Tech Wire (Sep 23) -- Vietnam aims to have an annual revenue of more than US$100 billion from the semiconductor industry by 2050.

The annual revenue of Vietnam's chip industry is expected to reach about $25 billion by 2030 and about $50 billion by 2040.

During the 2024-2030 period, Vietnam aims to have at least 100 chip design companies, one small semiconductor manufacturing plant, 10 chip packaging and testing plants, and more than 50,000 engineers.

And by 2050, Vietnam aims to have at least 300 chip design companies and a complete autonomous semiconductor ecosystem.

Vietnam will set up a national steering committee for chip development headed by the prime minister.

The country is also working on incentives to attract foreign investment projects in the semiconductor and electronics sectors.