Binh Duong (VNS/VNA) - The southern province of Binh Duong is focusing on facilitating investment in semiconductor and high-tech industries to leverage its advantages in these fields.

Nguyen Van Loi, Secretary of the provincial Party Committee, said that the province will develop a 220ha concentrated innovation and information technology zone with four sub-areas in Binh Duong New City.

The site will research, develop and conduct technology transfers of new technologies and products, as well as train and attract a high quality workforce.

Loi said that Vietnam has a big opportunity to participate more deeply in global semiconductor supply chains, and that Binh Duong is one of the dynamic and comprehensive development hubs of Southeast Asia, and excels in science, technology and innovation.

Binh Duong is focusing on attracting high-tech companies, especially those in the semiconductor industry. Its 2021-2030 development plan also highlighted that the province will develop this industry.

The province vows to create a favourable investment climate for high-tech businesses and help them work through administrative and customs procedures quickly.

It will improve its infrastructure linked with airports and seaports, along with other policies to support high-tech companies and attract high quality workers to suit their demand.

Binh Duong prioritises attracting investment in the fields of high-tech, semiconductor, green energy and the circular economy, as well as logistics, supporting industry and high-tech agriculture, with a focus on projects that provide high added-value and are not labour-intensive.

It has also asked local universities to create plans for educating and training high quality workers for high-tech industries.

Nguyen Loc Ha, Vice Chairman of the provincial People’s Committee, said that with its favourable location and drive to create a good investment climate, the province has attracted over 4,300 foreign direct investment projects from 65 countries and territories, with total registered capital of around 42 billion USD, ranking it third in Vietnam in terms of FDI attraction.

Binh Duong also leads the country in infrastructure development, and it pays a great deal of attention to building smart urban areas.

Last year, the Intelligent Community (a global network of cities and regions which focuses on facilitating economic development in the digital age) named Binh Duong as the 2023 Intelligent Community of the Year.

The network’s website describes Binh Duong New City as being “home to a growing number of Techlabs and Fablabs located in schools, universities and vocational colleges around the region.”

Last week, the province organised a working session with international experts on semiconductors to discuss the province’s potential in this industry.

Semiconductor experts from Digitimes Inc, a Taiwanese media outlet that focuses on the global semiconductor, IT, consumer electronics and communications industries, shared experiences for developing supply chains in technology and semiconductor.

They also shared lessons and experiences in developing semiconductor production investment projects and the role of the government in building policies to support the industry.

According to Digitimes Inc, with the planned concentrated innovation and information technology zone and other high-tech parks in Binh Duong New City, along with other science and technology parks in the southern key economic zone, Binh Duong is expected to become an attractive destination for high-tech companies.

Vietnam has a large supply of essential rare-earth elements for semiconductor chip production and a young population capable in STEM fields, giving it the chance to become one of the world’s semiconductor and electronic hubs.

Inꦇ the next five years, Vietnam will witness massive growth in tཧechnology and electronics, but the country will need a clear roadmap to develop related supply chains./.