"Breakthroughs are crucial. We need an institutional revolution. Within 18 months, Vietnam must demonstrate not only its readiness for the semiconductor opportunity but also commitment to seizing it," stated Mr. Truong Gia Binh, Chairman of FPT Corporation, during the semiconductor workforce development conference held on April 24 in Hanoi.

Addressing the urgency of seizing opportunities promptly, FPT Chairman Truong Gia Binh emphasized that the global demand for chips cannot wait for any nation. He stressed that some experts have suggested Vietnam has just 18 months to capitalize on this opportunity. Therefore, the Chairman underscored the necessity for innovative approaches to move swiftly. "One week ago, in a meeting with the US ambassador, the Japanese ambassador, and the Singapore ambassador, one of them remarked, 'You don't realize how significant the opportunities are for your country. However, you only have 18 months.' They did not elaborate on the reasoning behind this timeline," he stated.

FPT Chairman Truong Gia Binh was speaking at the event. Photo: VGP/Nhat Bac

Mr. Truong Gia Binh highlighted two crucial points: firstly, identifying the opportunity that lies in the semiconductor industry, and secondly, understanding the urgency of the situation. The semiconductor sector is selective, favoring countries and populations. Vietnam has a limited timeframe of 18 months because global demand for chips waits for no one. Failure to act promptly means the world will seek alternative solutions. The consequences of chip shortages were evident during the COVID-19 pandemic, leading to significant disruptions across various industries, such as automotive, with surplus production and unsold inventory.

The American Semiconductor Association actively engages with nations to advocate for, strategize, and invest heavily in semiconductor production, aiming to mitigate supply chain vulnerabilities. This proactive stance is mirrored by the Japanese Government and other nations. "I wholeheartedly endorse the Prime Minister's strategy. We must meticulously plan the 18-month roadmap, aiming for breakthroughs. I align with Minister Nguyen Chi Dung's perspective of tackling the challenge on a grand scale rather than focusing on incremental measures," Mr. Truong Gia Binh emphasized.

FPT's Chairman referenced remarks from Mr. Jensen Huang, CEO of NVIDIA, who highlighted during his visit to Vietnam that Vietnam stands out as the sole nation capable of engaging comprehensively in all aspects of the semiconductor supply chain. "Breakthroughs are crucial. We need an institutional revolution. Within 18 months, Vietnam must demonstrate not only its readiness for the semiconductor opportunity but also commitment to seizing it."