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Vietnam Unveils National Semiconductor Strategy in 2024

Published: 2.19.2024

Vietnam's Minister of Information and Communications, Nguyen Manh Hung, has emphasized the critical role of the semiconductor industry as a national priority, urging domestic enterprises to take the lead in its development.

During his visit to FPT Corporation on February 15th, Minister Hung praised FPT's strategic focus on AI, semiconductor chips, and automotive technology, calling them "highly appropriate choices."

Minister Hung highlighted the importance of the semiconductor industry in data processing, essential for human advancement in an information-driven world. Vietnam has formulated a National Semiconductor Industry Strategy set to begin in 2024, to nurture 50,000 chip design engineers and hundreds of thousands of technical workers by 2030, positioning Vietnam as a semiconductor hub.

Emphasizing the semiconductor industry's core role in digital transformation, Minister Hung suggested it as an opportunity for Vietnam to revitalize its electronics industry, particularly in areas such as telecommunications, healthcare, and industrial automation.

FPT Chairman Truong Gia Binh outlined FPT's focus on AI, semiconductor chips, and automotive technology for 2024. FPT Semiconductor, Vietnam's first chip design company with orders from Japan and South Korea, signifies progress in semiconductor development. FPT also ventures into automotive technology with FPT Automotive and invests in AI, aiming to improve human lives.

Minister Hung applauded FPT's global stature and encouraged other digital enterprises, citing Vietnam's growing number of digital firms and their need for successful role models like FPT to venture into international markets.

He advised FPT to expand its global revenue share to 70% while prioritizing digital and green transformation, emphasizing these as the century's most critical transitions.

Regarding AI development, Minister Hung urged AI to be accessible as a service for all Vietnamese citizens, attributing this responsibility to digital companies like FPT to democratize AI and empower people.

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