Vietnam’s semiconductor industry eyes $25b annual revenue by ’30

Vietnam’s semiconductor industry is poised for a substantial growth, with the government targeting over $25 billion in annual revenue and an added value growth rate of 10-15 per cent by 2030, according to a newly announced strategy.

Between 2030 and 2040, the semiconductor industry aims for annual revenues exceeding $50 billion, with a combined industry target of $485 billion. The added value growth rate is projected to be 15-20 per cent during this period.

By 2050, the objective is to double the annual revenues for the semiconductor and electronics industries and achieve a growth rate of 20-25 per cent in added value, according to Vietnam News Agency on Monday.

The strategy outlines Vietnam’s plan to establish a self-reliant semiconductor industry ecosystem, taking the lead in certain segments of the production chain. This ambitious goal is expected to be realised between 2040 and 2050.

Attribution: Xinhua

Subediting: Y.Yasser