Vietnam is stepping up the development of its homegrown semiconductor industry, which will be a potential driver of its future exports growth.

Vietnam's homegrown semiconductor sector is expected to grasp new business opportunities arising from the emerging IoT applications, and IC demand for IoT device applications is set to grow robustly.

Vietnam's national industrial and high-tech parks in Hanoi, Ho Chi Minh City, Da Nang, Thai Nguyen, Bac Ninh and Bac Giang will all play an important role in the country's IC industry development, already attracting investments from foreign companies, according to local media reports.

Vietnam has in recent years seen its electronics sector play a crucial role in the country's total exports. In 2020, Vietnam exported US$95.8 billion worth of electronics components and parts, equivalent to about one-third of the country's total exports value, according to statistics compiled by Vietnam Customs.

Vietnam's exports of handsets and handset components slipped 0.4% to US$51.18 billion in 2020, with exports to China surging 48.4% on year to US$12.34 billion and those to other major markets all decreasing, the statistics show.

Meanwhile, Vietnam's exports of PCs and related electronics components came to US$51.18 billion in 2020, down by a slight 0.4% on year. Of the exports, shipments to China grew 48.8% from a year earlier to US$12.34 billion last year while those to the US climbed 71.7% to US$10.39 billion, according to the statistics.

By DIGITIMES