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| Linda Tan, chairwoman of SEMI Southeast Asia |
At the Vietnam Semiconductor Exhibition (SEMIExpo Vietnam 2025) in Hanoi on November 7, optimism filled the air as industry leaders and global experts reflected on how far Vietnam has come, and how much further it can go. From an emerging participant a decade ago, the country is now seen as a serious contender in the global semiconductor ecosystem, drawing international recognition for its proactive strategy and growing capabilities.
“When we first discussed Vietnam's participation in the global semiconductor value chain in 2014, it was just the beginning of a long journey,” said Linda Tan, chairwoman of SEMI Southeast Asia. “Since then, Vietnam has refined its policies, strengthened infrastructure, and invested heavily in talent, laying the foundation for a vibrant and globally connected semiconductor ecosystem.”
Her reflections came as SEMIExpo Vietnam 2025 opened its doors to more than 500 participants from 19 countries, featuring over 100 booths and hundreds of young Vietnamese students eager to join the next generation of chipmakers. The event marks Vietnam's growing confidence in positioning itself as part of the semiconductor world's new growth map.
Tan highlighted that recent dialogues between Vietnam's top leaders and industry representatives showcased a spirit of openness, sincerity, and collaboration rarely seen in emerging markets. “The government's willingness not just to engage, but to listen, is impressive,” she said. “That trust and openness sends powerful signals of confidence, and provides a strong starting point for Vietnam's continued rise in the global semiconductor landscape.”
At the heart of Vietnam's push lies the National Semiconductor Strategy, which emphasises three pillars: talent development, infrastructure readiness, and international collaboration. Industry experts see this alignment between government, academia, and industry as the right formula for success.
“Vietnam is serious about transforming its semiconductor industry,” Tan stated. “You can see it here at SEMI Expo Vietnam, this is not just an exhibition, it's a reflection of the country's strategic intent.”
SEMI's Supplier Sourcing Programme, launched in partnership with the Netherlands Embassy, has also become a notable initiative. By connecting major global buyers directly with local Vietnamese suppliers, it creates new opportunities for small- and medium-sized enterprises (SMEs) to join the global semiconductor supply chain. “It's not just about business, it's about building trust, strengthening capabilities, and creating real pathways for Vietnam's integration into the global network,” Tan added.
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Global semiconductor outlook: trillion-dollar target
While Vietnam builds its foundation, the global semiconductor industry is entering an extraordinary phase. According to Ajit Manocha, president and CEO of SEMI, global chip sales are expected to soar from around $630 billion in 2023 to nearly $800 billion in 2024, setting the stage for the long-anticipated $1 trillion milestone by 2030.
“Never before have we seen such unprecedented growth accompanied by unprecedented challenges,” Manocha said in his recorded message to the Hanoi audience. “The world is witnessing massive capacity expansion, 107 new fabs are being built worldwide through 2028, and more than 30 will be needed by 2030 to sustain this trajectory.”
Asia remains at the centre of this expansion, hosting 82 of those fabs, with Southeast Asia accounting for six, a small but fast-growing share. Manocha encouraged Vietnam to “lobby for more fabs,” highlighting the country's strong momentum, strategic policies, and growing infrastructure base.
He pointed out that the pandemic had exposed the vulnerabilities of a concentrated semiconductor supply chain. The lesson, he said, is clear: “More hubs mean more resilience. Vietnam's emergence as another semiconductor hub will help de-risk future vulnerabilities in the global supply chain.”
AI: catalyst for the next wave
If there is one megatrend shaping the future of semiconductors, it is AI. “AI is the keyword of everything right now,” noted Clark Tseng, senior market research director at SEMI. “It's driving a structural, long-term growth cycle for the semiconductor industry.”
Data from Google Cloud illustrates the explosive rise of AI workloads: from 10 trillion tokens in April 2023 to 1,000 trillion by late 2024, a 100-fold increase in just 18 months. This surge, Tseng said, has triggered a wave of global investment in AI infrastructure, pushing cloud service providers' capital expenditure to over $300 billion annually, nearly double the total annual CapEx of the entire semiconductor industry.
This capital infusion is reshaping the semiconductor equipment market. “AI-related and high-performance computing investments now account for around 40 per cent of total semiconductor equipment spending,” Tseng explained. “We expect this share to reach 50 per cent by 2028 and 55 per cent by 2030.”
The implications are clear: new fabs and equipment investments are being reoriented to meet AI-driven demand, particularly for advanced logic chips, GPUs, and high-bandwidth memory (HBM). Taiwan and South Korea are leading this surge, with Southeast Asia emerging as the next frontier for diversified and cost-competitive manufacturing.
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| Clark Tseng, senior market research director at SEMI |
Strategic opportunity for Southeast Asia and Vietnam
Southeast Asia's semiconductor investment is forecast to grow from $5 billion in 2023 to $7 billion by 2028, with both front-end and back-end manufacturing facilities expanding. The region's balanced mix of Integrated Device Manufacturer and Outsourced Semiconductor Assembly and Test operations makes it an increasingly important node in the global chain.
Tseng emphasised that while regional momentum is strong, execution remains uneven. “We see many fab and packaging projects being announced, but timelines vary widely,” he cautioned. “The key determinants for success are talent, infrastructure, and government incentives.”
Against this global backdrop, Vietnam is positioning itself as a credible and competitive destination for semiconductor investment. The country's strengths, political stability, competitive costs, and a strong pool of young engineers are complemented by its growing alignment with major industry players and supportive international partners.
Vietnam's focus on workforce development is especially crucial. At SEMI Expo Vietnam, more than 300 students joined the workforce training programme, reflecting an industry-wide effort to nurture future talent. As one Vietnamese leader once put it, “To reap a return in 10 years, plant trees. To reap a return in 100 years, cultivate people.”
That wisdom resonates deeply with SEMI's mission. “When we invest in people, in partnership, and in shared purpose, we plant the seeds for a truly sustainable semiconductor future for Vietnam,” Tan said.
The global semiconductor ecosystem thrives on collaboration, and Vietnam's progress demonstrates how trust and partnership can accelerate national ambition. From strategic policy to practical programmes linking local suppliers with global buyers, the country is demonstrating not only readiness but resolve.
As Ajit Manocha summed up, “The industry is doubling, maybe even quadrupling in the next few decades. Vietnam's rise as a semiconductor hub will make the global supply chain more resilient, and that's a future we can all look forward to.”
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 | World Bank charts talent path for Vietnam's semiconductor future The World Bank has proposed a 'three-plus-one' formula to help Vietnam develop its semiconductor industry and other high technologies, calling for a strong long-term strategy. |
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