Vietnam seen as new manufacturing hub by IT companies

According to Taiwanese media DIGITIMES, Vietnam is becoming a new manufacturing center for many first-tier IT companies outside of China.

According to the report, between 2015 and 2020, Vietnam’s manufacturing industry received a total of US$376 billion in foreign direct investment from South Korea and Japan, with Samsung Electronics accounting for a quarter of South Korea’s investment.

Intel built its largest chip packaging plant in Vietnam, while LG Electronics announced in 2021 to invest more than $1 billion in Haiphong, Vietnam, to expand its OLED display capacity.

In addition to manufacturing, Samsung Electronics is also building an R&D center in Hanoi, and Qualcomm's only test lab in Southeast Asia is also located in Hanoi. Panasonic and Toshiba are rumored to be considering research and development in Vietnam.

To date, Vietnam has a total of 335 industrial parks with a total area of 100,000 hectares, and continues to expand more industrial parks to meet the growing needs of foreign investors, the report pointed out.