For any small or middle power looking to emerge as a strong contender within the complex global semiconductor value chain evolving around the US-China tech rivalry, four central prescripts from Vietnam’s approach are noteworthy. 1. Build the basics Over the past decade, Vietnam has focused on building a strong base in assembly, testing and packaging (ATP), the last stage of the semiconductor value chain before chips are shipped to customers. Vietnam made its name as a “reliable backend” by attracting investments from global leaders such as Intel, while also encouraging foreign investments in local companies for ATP.  This strong backend is the fundamental enabler fuelling Vietnam’s bid to move up the value chain into design and fabrication. 2. Clustering and agglomeration Vietnam has further sought to build a local supplier base in the country in a manner that has made it indispensable to the global high-tech supply chain. Leading chipmakers such as Samsung procure their components from Vietnam-based suppliers. This clustering has also been facilitated by infrastructure and skill development. 3. A comprehensive approach Vietnam’s …