Only 11.6% of Vietnam’s 57.5 million workforce are high skilled, and the rate of English proficiency is 5%.

The tax cut would benefit businesses with revenue in 2020 of less than VND50 billion (US$2.16 million) and a workforce not exceeding 100 employees.

The latest Covid-19 outbreak in the country has delayed the recovery of the labor market, forcing workers, especially women, to seek jobs in informal sectors.

With an abundant labor supply and a skilled workforce, human resources are Vietnam's greatest and most prominent advantage over other countries.

The Vietnamese government is working with institutions and companies to promote semiconductor innovation and production.