Being the place with the most universities in the country, with a team of leading professors and experts in science and technology, the number of people with advanced degrees from university and above concentrated in Hanoi accounts for at least 65% of the country. The number of businesses in Hanoi is increasing day by day.

Along with many other favorable conditions, Hanoi is considered to have many strengths to attract foreign investment in the semiconductor industry. However, these favorable conditions also put Hanoi in a challenging situation if it does not fully exploit its strengths.

At the seminar "Potentials and challenges of attracting foreign investment in the semiconductor industry in Hanoi" organized by the Hanoi Investment, Trade and Tourism Promotion Center (HPA) within the framework of the series of events "Semiconductor Technology Investment Connection Festival 2024", Deputy Director of the Hanoi Investment, Trade and Tourism Promotion Center Nguyen Tran Quang said that in recent times, Vietnam has been attracting many large corporations in the semiconductor industry from the US, Korea, Japan, European countries... to learn and invest. In particular, Hanoi, with its strategic location and many unique advantages, has great potential and opportunities to develop and attract investment in the technology sector, including the semiconductor industry.

“The 2024 Capital Law identifies semiconductors as a priority sector to attract strategic investors in the capital. Strategic investors selected according to regulations in the semiconductor sector will enjoy many investment incentives from Hanoi,” Mr. Nguyen Tran Quang informed.

At the seminar, Prof. Dr. Nguyen Mai, Chairman of the Association of Foreign Investment Enterprises, also made a number of proposals and recommendations to the City, such as approaching innovative thinking and action, renewing the growth model as well as close coordination between the Capital government and central ministries, branches, scientific institutes and universities.

First, Hanoi needs to proactively build a portfolio of investment projects and policies, not only focusing on the semiconductor industry but also encouraging future technologies such as AI, Blockchain, Fintech, modern services, and training high-quality human resources. These areas are closely related to the semiconductor industry.

Second, the Ministry of Planning and Investment has publicly announced the projects that have been negotiated, some of which have been signed, and some others that are in the exploration phase.

Third, according to Prof. Dr. Nguyen Mai, investment promotion activities need to be further improved. Currently, investment promotion mainly relies on large conferences to promote preferential policies, laws and investment opportunities. This is effective but often only attracts lower-level experts and has little participation from senior leaders and CEOs of corporations and enterprises.

Finally, Prof. Dr. Nguyen Mai mentioned the issue of overcoming bottlenecks. Accordingly, in addition to the energy issue, there is also the urban technical infrastructure system. Not only transportation, it is important to focus on modernizing infrastructure, ensuring this process towards a circular economy and digital economy.

This will help fully implement the orientations of the 13th Party Congress, as well as the goals of Hanoi city, to become a peaceful, green, clean and beautiful city.

Currently, businesses are also considering Hanoi in particular, and Vietnam in general, as investment destinations to increase production. Typically, Apple has completed the transfer of 11 factories to Vietnam, while technology company Intel has also expanded the second phase of its microchip testing factory in Ho Chi Minh City with an investment capital of 4 billion USD until 2025. At the same time, Boeing, Google and Walmart have announced plans to expand their supplier network and production facilities in Vietnam after studying the market...

In addition, Vietnam has rare earth reserves of about 22 million tons, half of China's. This plays an important role in mastering raw materials for semiconductor production. In addition, Vietnam also has advantages in attracting FDI in renewable energy such as wind power, solar power, and future technology.

Thus, Vietnam is facing a great opportunity to increase its growth rate and realize the goals of the 2021-2030 Development Strategy. To achieve this, it is necessary to increase domestic and foreign investment capital.

According to Intellectual Property and Innovation