PRIORITIZING INVESTMENT IN SEMICONDUCTOR PROJECTS

By prioritizing investment in high-tech sectors, mechanical engineering, electronics and supporting industries, especially semiconductors, Vinh Phuc province has attracted major semiconductor corporations from Korea, Taiwan, the United States, and other regions, aiming to establish itself as a key electronics hub in the country.

Taking advantage of being an important link in the redirecting trend of supply chains in Southeast Asia, Vinh Phuc province has focused on attracting high-tech investors, with special attention to semiconductor manufacturers and electronic chipmakers. Accordingly, the province has accelerated administrative reforms and introduced attractive incentives and support policies. It has also enhanced the infrastructure of high-tech parks, developed plans for training high-quality human resources, and prepared clean land in industrial parks for investment-oriented projects. Additionally, it has reformed investment promotion efforts, actively engaging in domestic and international conferences to showcase the province's investment environment.

According to statistics, computers, electronic products and semiconductor products of Vinh Phuc have been asserted in traditional markets; sought to be exported to new markets such as the US, ASEAN, Japan, South Korea and strongly shipped to EU markets like the Netherlands, Germany and Czech Republic. Many major firms in the province, such as Heasung Vina Co., Ltd., Pratron Vina Co., Ltd., Jawa Vina Co., Ltd., and Power Logics Vina Co., Ltd., have proactively navigated challenges and seized opportunities arising from Vietnam's deeper integration into the global economy to expand their production and strengthen their market positions.

Young Poong Electronics Vina Co., Ltd. (Binh Xuyen II Industrial Park) is a 100% South Korean-invested producer of flexible printed circuit boards (FPCBs) and surface mount technology (SMT) circuit boards. After more than eight years in Vinh Phuc, the company has continuously expanded its factories and become a trusted partner of many giant corporations such as Samsung and LG. In particular, since December 2020, the firm has exported its first batch of products to Apple Inc. (USA), the world’s leading technology company, solidifying its position as a top producer of electronic circuit boards.

Mr. Hawng Jin Ju, General Director of Young Poong Electronics Vina Co., Ltd., praised the investment environment in Vinh Phuc, citing it as a key reason for the company's decision to expand its factory in Vinh Tuong district, complementing its existing facilities in Binh Xuyen district. In the coming time, the company hopes to further support and facilitate the province to remove obstacles and speed up project progress in Dong Soc Industrial Complex.

With strong digital development, the increasing demand for electronic products such as tablets, mobile phones and laptops, local manufacturers of electronic components and semiconductors continue to have many big orders from leading tech partners in the world like Apple, Dell, Sang Sung and Google. Therefore, the province has leveraged its existing strengths to maintain the electronics manufacturing industry as a key driver of industrial development, focusing on high-value segments. It has also enhanced industrial park infrastructure to address environmental concerns and provide essential services like telecommunications, electricity and clean water, all tailored to meet tenants’ standards and elevate the semiconductor production chain.

Vinh Phuc province aims to enhance its business climate by ensuring a strong legal environment, robust infrastructure and excellent business services. The province will support businesses by promptly addressing obstacles and facilitating stable operations for sustainable development.

Source: VCCI