Hà Nội seeks ways to promote and invest in semiconductor industry: seminar

Representatives of related agencies joined the opening ceremony of the Hanoi Semiconductor Industry Exhibition 2024 on 29 July. — Photo courtersy of HPA

HÀ NỘI — Semiconductor industry leaders, investors and technology providers gathered in the capital city of Hà Nội for a seminar focused on boosting investment and development in the industry.

The event was organised on the afternoon of July 29 by the Hanoi Promotion Agency (HPA) under the direction of the Hanoi People’s Committee, aimed at exploring opportunities for advancing this critical sector.

Nguyễn Trần Quang, deputy director of HPA, opened the seminar by highlighting the essential role of the semiconductor technology as the ‘bloodline’ of the digital economy.

He noted that semiconductor technology forms the backbone of many current technological solutions and that Việt Nam has become an attractive destination for major semiconductor corporations from the United States, Korea, Japan and Europe.

Quang emphasised Hà Nội’s strategic location and unique advantages, which present significant potential for growth and investment in the technology sector, particularly in the field of semiconductors. He shared that, despite facing various challenges, Hà Nội’s socio-economic development in the first half of 2024 has shown impressive results.

The city’s gross regional domestic product (GRDP) grew by 6 per cent compared to the same period in 2023, with industrial production rising by 5 per cent and the processing and manufacturing sector increasing by 4.1 per cent. The product consumption index also saw a significant increase of 13.1 per cent.

Industry leaders, investors and industry providers learn more at a booth in the trade exhibition.

Exports have rebounded strongly, with turnover reaching US$8.9 billion, an 11 per cent increase from the previous year. The city attracted $1.165 billion in foreign investment, including 120 new projects with $1.036 billion in capital, 78 projects with an additional $55 million in investment and 104 projects with foreign investors contributing $74 million by purchasing shares.

Quang underlined that these positive results reaffirm the city’s appeal to international investors. The city is committed to enhancing its investment environment by streamlining administrative procedures, reducing costs and implementing policies to support businesses. These efforts include organising investment promotion activities and business dialogues to address challenges faced by enterprises, thereby improving the city’s competitiveness.

He also pointed out that the recently enacted Capital Law No. 39/2024/QH15 prioritises the semiconductor sector for strategic investors, who will benefit from preferential investment policies. The Hanoi Semiconductor Technology Investment Connection Day 2024 was organised to provide insights into the sector’s development, strategies for promoting semiconductor technology enterprises and opportunities for investment and trade within the semiconductor and high-tech ecosystems.

Quang expressed hope for continued support and cooperation from domestic and international investors in the semiconductor industry, emphasising Hà Nội’s dedication to improving the investment environment and supporting business success.

Investment and development strategies

Also at the seminar, Nguyễn Việt Hùng, director of the Hanoi Department of Information and Communications, discussed the potential and advantages of developing the semiconductor industry in Hà Nội. Hùng highlighted the need for institutional, legal and human resource improvements to fully leverage Việt Nam’s natural resources in the semiconductor sector.

IT students and visitors discussed technology issues at a booth in the exhibition.

Hùng outlined several key strategies for advancing the industry, including promoting digital business development. Therefore, the city will focus on creating favourable conditions for digital businesses, issuing appropriate mechanisms and policies, and developing digital infrastructure.

Hà Nội will promote scientific research and development, focusing on core technology areas such as AI, big data, blockchain, cloud computing and semiconductor chips.

He noted that the city aims to support businesses with key industrial products, develop concentrated IT parks and prioritise local digital technology products and services.

Activities will include networking events, cooperation with educational institutions and promoting digital business platforms. The Hanoi City Innovative Information Technology Business Incubator will also continue to support research and innovation.

The event also addressed Việt Nam’s opportunities within the semiconductor industry, the role of IoT and AI in production and supply chains, and strategies for developing resources for semiconductor chip production.

The seminar also highlighted Hà Nội’s commitment to becoming a key player in the semiconductor industry and its strategic efforts to attract investment and foster technological growth.

Attendees focused on advancing the semiconductor sector through investment, industry connections and trade opportunities. This kind of event typically aims to bring together industry leaders, investors and technology providers to discuss trends, showcase innovations, and foster collaborations. — VNS