US corporations advise Vietnam to strengthen position in the semiconductor supply chain

US semiconductor experts commend Vietnam for making human resource development a core strategic priority. They suggest that further investments in infrastructure and an enhanced legal framework will be the key to the industry.

On September 22, General Secretary and President To Lam participated in the seminar titled "Strengthening Vietnam - US Cooperation in Developing the Semiconductor Industry and Artificial Intelligence" held in New York. The event gathered key leaders and experts from global technology giants and top organizations in semiconductors and AI, including the Semiconductor Industry Association (SIA), AMD, and Google.

In his opening address, Minister of Planning and Investment Nguyen Chi Dung highlighted the immense potential for collaboration between Vietnam and the US in high-tech sectors such as the semiconductor industry and AI. He emphasized that this cooperation offers significant opportunities for businesses on both sides to leverage their strengths and take advantage of the evolving global landscape. This partnership holds particular importance following the recent elevation of the Vietnam-US relationship to a Comprehensive Strategic Partnership in September 2023.

General Secretary and President To Lam participated in the seminar titled "Strengthening Vietnam - US Cooperation in Developing the Semiconductor Industry and Artificial Intelligence" held in New York on September 22. Photo: Vietnam News Agency (VNA)/Lam Khanh.

John Neuffer, President of the Semiconductor Industry Association of America (SIA), praised Vietnam's development strategy as "ambitious and bold," with a critical focus on developing high-quality human resources.

"This is just the beginning of a long journey," Neuffer noted. "I firmly believe that any nation investing in its workforce, in the right way and direction, will soon play a crucial role in the global supply chain. Many US companies have already invested in Vietnam, and the country has significant potential to take on a larger role in this ecosystem."

John Neuffer also urged Vietnam to prioritize investment in research and development (R&D) while emphasizing the importance of building a robust ecosystem. This includes strengthening intellectual property protection, establishing a solid legal framework for semiconductor technology and AI, and considering participation in the World Trade Organization’s Information Technology Agreement Expansion (ITA 2), which covers global standards for semiconductor technology management.

"Vietnam stands to gain from the global surge in AI and semiconductor investments," Neuffer stated. "Competition in these areas is intense, and Vietnam must demonstrate strong political resolve and take decisive actions to attract substantial investment. This is essential to realize the country's strategic vision and ambitious goals."

Mr. Nguyen Van Khoa, FPT CEO, hosted the panel discussion. Photo: Vietnam News Agency (VNA)/Lam Khanh.

Keith Strier, Senior Vice President of AMD, remarked that Vietnam is transitioning from an "IT economy" to an "AI economy," extending this transformation to both its workforce and society.

"The core of building an AI economy rests on four pillars: people as the focal point, an ecosystem to foster growth, robust infrastructure, and progressive government policy to drive momentum," said Mr.Strier.

He further added, "In the future, a nation's industrial policy will be shaped by its AI strategy. A self-reliant economy must integrate AI inclusively, efficiently, and transparently. We look forward to partnering with Vietnam to realize this vision."

In his heartfelt remarks at the seminar, General Secretary and President To Lam highlighted that Vietnam is at a pivotal moment in its economic transformation. "Advancing the semiconductor and AI industries is not just a strategic choice but an objective necessity. It’s a priority in our science and technology agenda that will drive the growth of supporting industries," he stressed.

Vietnam is focusing on science, technology, and innovation as key drivers to boost productivity, enhance quality, and strengthen its economic competitiveness. The country is actively encouraging selective investment, with a particular emphasis on AI and the semiconductor industry—both areas where US investors hold a competitive edge. The General Secretary and President reaffirmed Vietnam's commitment to international cooperation, recognizing that long-term success in high-tech fields, especially semiconductors and AI, requires collaboration to build a strong value chain. He warmly welcomed US businesses and organizations to partner with Vietnam in developing innovative and sustainable solutions.

Semiconductor Industry Association (SIA) President John Neuffer (center) and AMD Senior Vice President Keith Strier (left) at the seminar. Photo: Thanh Danh.

The General Secretary and President praised the Ministry of Planning and Investment for its proactive efforts, in collaboration with relevant agencies and FPT Corporation, in advancing the semiconductor and AI industries. He expressed confidence that the Comprehensive Strategic Partnership between Vietnam and the US will continue to grow in substance and effectiveness, fostering sustainable development.

On September 21, Prime Minister Pham Minh Chinh approved the Strategy for the Development of Vietnam's Semiconductor Industry, targeting 2030 with a vision toward 2050. This milestone aims to position Vietnam as one of the world's key semiconductor hubs, a sector that is increasingly becoming a cornerstone of the global economy. Minister Nguyen Chi Dung emphasized that Vietnam will focus on training high-quality human resources to drive progress in both AI and semiconductors, with a target of producing 50,000 skilled engineers by 2030.

Several major Vietnamese tech companies are actively venturing into the semiconductor and AI industries, with FPT leading the charge. FPT has partnered with top global AI experts, including Landing AI, Mila, and Nvidia, and is planning a 200 million USD investment to establish the AI Factory. This initiative is expected to accelerate Vietnam's economy, driving its AI industry forward while positioning it at the forefront of global technology trends. In semiconductors, FPT focuses on chip design, testing, and high-quality talent development. Notably, FPT Semiconductor was launched in 2022, unveiling the first "Made in Vietnam" microchips.

The global semiconductor and AI industries are undergoing rapid transformation, creating unprecedented opportunities for Vietnam. FPT is eager to collaborate with global IT and semiconductor companies to invest and join forces in the global semiconductor supply chain, creating new milestones," said FPT CEO Nguyen Van Khoa.