Overseas Vietnamese Community Eyes Investment in Vietnam's Chip Sector

Vietnam's burgeoning semiconductor industry is attracting the attention of the Business Association of Overseas Vietnamese (BAOOV). The association's chairman, Nguyen Hong Hue, on March 16 revealed plans for overseas Vietnamese to invest in the sector, citing the country's ambition to become a regional chipmaking hub. BAOOV members will channel capital and expertise to address Vietnam's needs in this highly technical field.

Hue notes that the BAOOV's young membership, well-versed in emerging technologies like AI and blockchain, could play a crucial role. The global Vietnamese diaspora already boasts a strong presence in Silicon Valley's tech scene, including the semiconductor industry.

BAOOV's focus extends to education and training. Professor Ngo Pham Tran, head of the Vietnam-Taiwan Business Association, indicates that Taiwanese companies will invest in electronics and semiconductor training programs in Vietnam in 2024. These programs aim to create a skilled workforce by combining classroom instruction with practical experience.

The BAOOV has a strong track record of facilitating business cooperation. It has sponsored numerous trade and investment conferences, attracting overseas Vietnamese businesses and generating cooperation agreements worth millions.