PM promises government support for AI, semiconductor companies coming to Vietnam

By Minh Son   January 16, 2024 | 08:40 pm PT
PM promises government support for AI, semiconductor companies coming to Vietnam
Vietnam Prime Minister Pham Minh Chinh speaks with global business representatives in Davos, Switzerland on Jan. 16, 2023. Photo by Nhat Bac
Prime Minister Pham Minh Chinh has called on global investors to look at Vietnam’s AI, auto and semiconductor industries, saying they are guaranteed government support.

He was speaking at a meeting with executives from Google, Mitsubishi Heavy Industries, Qualcomm, and Siemens in Davos, Switzerland, Tuesday where he is attending the World Economic Forum.

The meeting, organized by the Ministry of Planning and Investment, the Vietnamese embassy in Switzerland and tech giant FPT Group, prioritized discussions about the three sectors.

Chinh said Vietnam's 2021-30 socio-economic development strategy had identified resources needed for the rapid and sustainable development of science, technology, innovation, creativity, and digital conversion.

The AI, semiconductor and auto industries were important in this regard.

Vietnam had announced an AI development strategy that included building national data centers.

It considered the semiconductor industry a new driving force for development, and planned to invest in all three areas: design, manufacture and packaging.

In terms of automobile technologies, developing electric cars, using clean materials, low carbon emissions, and green transportation were among its priorities.

"To develop these fields, Vietnam will promote three strategic breakthroughs: strategic infrastructure, training high-quality human resources and perfecting institutions."

The breakthroughs would facilitate and reduce costs for businesses and the public.

Businesses would hopefully cooperate and invest effectively and sustainably in Vietnam, and his government would accompany and cooperate with them based on the principle of harmonizing the interests of the state, people and businesses, and would share their risks.

The company executives said Vietnam has been attracting many semiconductor players like Intel, Samsung, Amkor, Qualcomm, Infineon, Marvell, and Hana Micron.

The American Semiconductor Industry Association, the Asian Semiconductor Association and a number of corporations also appreciate Vietnam's potential in this field, they said.

Chinh said Vietnam was able to maintain economic stability, control inflation and promote growth even amid all the challenges in 2023.

It attracted nearly US$37 billion worth of FDI, he said.

The country relies on internal resources but at the same time welcomes support and assistance from international partners, he added.

go to top