Thái Nguyên Attracts Semiconductor Investors with $10.72 Billion Active FDI Projects

Thái Nguyên province in Vietnam is actively seeking to attract investors, particularly in the semiconductor industry, with a special focus on attracting investment from the United States. The province recognizes the immense potential and advantages in this sector, hence the special attention. 

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As of now, the province boasts 211 active FDI projects with a total investment of $10.72 billion. To further attract investments, especially FDI projects, Thái Nguyên has implemented comprehensive measures to improve the investment and business environment. These include administrative procedure reforms, infrastructure enhancements - particularly transportation links connecting regions and provinces, and the concentration of resources into industrial zones and clusters. 

With the aim to become a modern and intelligent industrial economic center in the Northern midland and mountainous region and the Hanoi Capital Region, Thái Nguyên has planned 12 industrial zones covering 4,245 hectares and 41 industrial clusters spanning 2,067 hectares. 

Notably, the province is keen on attracting investors in the semiconductor industry, especially from the US. This interest aligns with global trends, as more than 80% of semiconductor manufacturing activities currently occur in Asia, a figure projected to decrease to 50% by 2030, with significant investments planned by the US and EU. 

In November 2023, as part of investment promotion activities in the US, provincial leaders directly connected with the President and CEO of the Semiconductor Industry Association of America, John Neuffer, aiming to facilitate US investors' entry into Thái Nguyên. 

The Semiconductor Industry Association of America and its member companies view Vietnam, particularly Thái Nguyên, as an attractive investment destination. They emphasize the need for high technical standards and skilled labor force preparation to effectively tap into this sector. Several US companies such as Amkor Technology, Samsung, and Hana Micron Vina have already made substantial investments in semiconductor production facilities in Vietnam, indicating the growing interest and potential in this industry.