Business News Asia
FPT Semiconductor A unit of leading Vietnamese technology company FPT has launched its first batch of semiconductor chips used in medical devices. This is part of the company’s efforts to enter a highly competitive global industry.
The company aims to deliver 25 million chips worldwide by 2023 and sees Japan, Taiwan, China, and the U.S. as key markets for chips used in everything from consumer electronics to aerospace, which is in high demand because the supply chain has been disrupted since the pandemic.
In recent years, global semiconductor manufacturers have focused on Southeast Asian countries, which are already major regional manufacturing hubs as alternative production destinations to China. Samsung announced plans to start producing semiconductor components in Vietnam in July 2023, after investing $920 million in its factory in northern Vietnam’s Thai Nguyen province earlier this year.
U.S. market research firm Technavio reported in August that total chip manufacturing in Vietnam has the potential to grow to a $1.65 billion industry by 2025.