Vietnam Rises to 4th in Semiconductor Exports; FPT, Viettel Lead Chip Push

Overview

Vietnam has climbed to the 4th largest exporter of semiconductor equipment globally, with export turnover reaching $7.92 billion in 2024. Domestic technology leaders FPT and Viettel are moving into high-value chip design and manufacturing, supported by foreign direct investment and a national strategy to build a self-reliant semiconductor ecosystem. The development positions FPT as a key player in the global semiconductor supply chain.

Key Facts

• Vietnam’s semiconductor equipment exports reached $7.92 billion in 2024, ranking 4th out of 204 countries and territories (Oec.World data).
• The US is the largest export market, accounting for $5.85 billion, followed by India, Mexico, and South Korea.
• Vietnam imported $2.98 billion in semiconductor equipment in 2024, ranking 13th globally, with China ($1.03B) and South Korea ($879M) as top suppliers.
• FPT Semiconductor has secured orders for 70 million chips through 2025 and plans to establish an advanced testing and packaging plant in 2026.
• Viettel will break ground on Vietnam’s first chip fabrication plant in 2026, targeting self-sufficiency in microchips for 5G base stations.
• FPT’s technology segment targets 24.9% pre-tax profit growth in 2026 year-on-year.
• The national semiconductor strategy (Decision 1018/QD-TTg) outlines a three-phase roadmap to 2050, focusing on shifting from assembly to design and manufacturing.

What Happened

According to a report from Mirae Asset Securities, Vietnam has risen to the 4th largest exporter of semiconductor equipment globally, based on 2024 data from Oec.World. The country’s export turnover of $7.92 billion places it behind only a few major players, with the US as the primary destination. The report highlights the division of labor in Vietnam’s semiconductor ecosystem: international firms like Siemens, Synopsys, and Cadence provide design software; Qualcomm, Marvell, and others lead chip design; while Intel, Amkor Technology, and Hana Micron handle packaging and testing.

Domestic enterprises FPT and Viettel are advancing into higher-value stages. FPT, through its FPT Semiconductor unit, has already secured orders for 70 million chips through 2025 and announced plans for an advanced testing and packaging facility in 2026 to serve South Korea, Taiwan, and Japan. Viettel officially plans to start construction of Vietnam’s first chip fabrication plant in 2026, aiming to produce microchips for 5G base stations and reduce import dependence. Viettel targets joining the top 60 global defense firms by 2030 with high-tech revenue exceeding 10%.

Market Context

FPT shares closed at VND 75,000 on April 15, 2026, down 1.31% on volume of 9.5 million shares. The stock trades on HOSE. The semiconductor push aligns with FPT’s broader strategy to move up the technology value chain, though near-term earnings remain driven by its core IT services and software segments. Vietnam’s semiconductor export growth reflects the country’s deepening integration into global supply chains, supported by FDI inflows and government incentives. The sector benefits from geopolitical shifts as companies diversify manufacturing away from China.

Strategic Significance

FPT’s expansion into semiconductor testing and packaging represents a strategic move to capture higher margins and reduce reliance on low-value assembly. The company’s existing chip orders and planned facility position it to serve key Asian markets, leveraging Vietnam’s cost advantages and trade agreements. Viettel’s entry into chip fabrication is more ambitious, targeting national security and 5G infrastructure self-sufficiency. Together, these initiatives align with Vietnam’s national semiconductor strategy, which aims to create a self-sufficient ecosystem by 2050. For FPT, success in semiconductors could diversify revenue streams and enhance its technology credentials, though execution risks remain significant given the capital intensity and technical complexity.

What to Watch

• FPT’s Q2 2026 earnings report for updates on semiconductor revenue and order book.
• Progress on FPT’s testing and packaging plant construction timeline and capacity details.
• Viettel’s chip fabrication plant groundbreaking and any partnership announcements.
• Government policy updates under Decision 1018/QD-TTg, including incentives for semiconductor investment.
• Foreign investment flows into Vietnam’s semiconductor sector, particularly from US and Korean firms.