Incentive mechanisms needed for semiconductor industry: PM

The PM said that it would require the participation of the entire political system, the engagement of people, businesses, and investors, and the support of international friends to develop the industry.

Prime Minister Phạm Minh Chính, Head of the National Steering Committee for Semiconductor Industry Development, urged the development of incentive mechanisms and policies to promote the development of the semiconductor industry, while chairing the first meeting of the committee in Hà Nội on December 14 morning.

Emphasising that developing the semiconductor industry is a necessity, a strategic breakthrough, and also a key task in the coming time, the PM said that it would require the participation of the entire political system, the engagement of people, businesses, and investors, and the support of international friends.

The determination to implement the scheme must be demonstrated through specific, methodical, scientific, and drastic actions, he stressed.

The PM said that alongside resolutions, strategies, programmes, projects, mechanisms, and policies aimed at fostering scientific and technological development, innovation, and digital transformation, Việt Nam needed to make breakthroughs in policies, such as establishing an investment support fund; and proposals for policy adjustments during the formulation of legal documents like the Law on Investment and the Law on Corporate Income Tax, and preferential policies on personal income tax, fees, and charges to encourage the development of the industry.

He requested ministries, sectors, localities, education institutions, and businesses to proactively develop plans for implementing the human resource development programme serving the industry by 2030, with a vision to 2050, and the strategy for semiconductor industry development by 2030.

The Government leader said it was necessary to enhance inspections, scale up good models, promote public-private partnerships and domestic and international cooperation, and take measures to address weaknesses and limitations.

He also underlined the need to raise awareness of the role, position, potential, strength, and development requirements of the sector, to improve institutions and policies in a flexible and prioritised direction, to accelerate administrative reforms, and to devise policies for training and attracting high-quality human resources.

The PM urged establishing an investment support fund, transferring technology, and optimising Việt Nam's potential, opportunities, and competitive advantages.

The Ministry of Planning and Investment (MPI) was asked to focus on implementing the tasks and solutions outlined in the human resources development programme; and completing and submitting a draft decree on an investment support fund to encourage international investors and assist domestic enterprises.

Meanwhile, the Ministry of Information and Communications would continue implementing tasks set in the national semiconductor industry development strategy to 2030, with a vision to 2050, particularly those related to the development of specialised chips and electronics.

The Ministry of Foreign Affairs was tasked with developing a project to promote international cooperation to mobilise resources for the semiconductor and electronics industry and strengthening bilateral and multilateral cooperation in semiconductors.

It would continue to leverage the network of Vietnamese diplomatic missions abroad to promote international cooperation in this field, identifying priority areas for cooperation with each partner.

The Ministry of Industry and Trade (MoIT) would coordinate with the Ministry of Foreign Affairs to call on US agencies to promptly remove Vietnam from the D1 - D3 lists of high-tech export restrictions, thus creating more favourable conditions for Việt Nam to access advanced US technologies and promote cooperation between businesses of the two countries in high-tech fields, including semiconductors.

Meanwhile, the Ministry of Education and Training was assigned to closely coordinate with the MPI to implement the personnel programme, including researching, proposing, and organising the implementation of a linkage model between the State, schools, and enterprises in workforce training.

The PM noted the need to quickly submit a project on training human resources to serve high-tech development in 2025-2035 with a vision to 2045 to prepare STEM (science, technology, engineering and mathematics) human resources with high professional and technical qualifications to serve the expansion of high-tech fields, including the semiconductor industry, especially a workforce capable of participating deeply in the research and development stage in a number of key technology fields.

He demanded the Ministry of Finance to closely work with the MPI and relevant agencies to study and propose preferential mechanisms and policies on tax, finance, management, and use of public assets to serve the training, research and development of the semiconductor industry.

The Ministry of Science and Technology was required to promote research and development, improve Việt Nam's scientific and technological capacity in the semiconductor industry, especially developing core technologies and specialised chip products.

He urged ministries, sectors and localities to focus on and push ahead with the implementation of tasks and solutions in accordance with the relevant documents.