HCMC – Many leading U.S. semiconductor manufacturers will come to Vietnam in the coming years, John Neuffer, CEO of the Semiconductor Industry Association (SIA), told a meeting with Deputy Prime Minister Le Minh Khai on January 12.

Semiconductors are a must-have component of electronics goods while many major electronics producers have set up shop in Vietnam.

Neuffer proposed Vietnam have a sound mechanism in place and build a strong legal framework to encourage international semiconductor producers to do business in the country.

Deputy PM Khai said U.S. firms could set up research and development centers and semiconductor development facilities in Vietnam, and implement technology transfer programs.

The Vietnamese Government has issued incentive policies and built a legal corridor for investors involved in hi-tech projects, including making semiconductors, said Deputy PM Khai.

Vietnam is focusing on science and technology, identifying innovation and digitalization as its main drivers for economic growth in the 2021-2030 period. As such, the country always welcomes hi-tech and innovative projects, said Khai.

Vietnam has emerged as a destination for leading foreign firms, with Intel, Samsung, Foxconn, Amkor and LG having already set up a firm presence.