Minister of Planning and Investment Nguyen Chi Dung stated that Vietnam now gains sufficient conditions to cooperate with semiconductor and AI businesses and investors from around the world. It has a population of more than 100 million, a golden population structure, an enthusiastic young generation, and highly valued capabilities related to STEM (science, technology, engineering, mathematics).
The country decided to develop the semiconductor and AI industries as part of efforts to carry out the Party and State’s policy of catching up with, moving at the same speed as, and then outpacing developed nations worldwide. It issued a strategy for AI development in 2021. On September 21, 2024, the Prime Minister released a national strategy for developing the semiconductor industry and a programme on developing human resources in this sector by 2030, with a vision to 2050.
Vietnam has formed a large semiconductor and AI ecosystem compared to others in the region, involving Google, Meta, NVIDIA, AMD, Qualcomm, Intel, Amkor, Hana Micron, LAM Research, Marvell, Cadence, Synopsys, Qorvo, Ampere, and Infineon, along with many other electronics firms, according to Dung.
Becky Fraser, Vice President of Global Government Affairs at Qualcomm, said for the last more than 20 years, Qualcomm has been a committed partner in the country’s digital transformation process. In particular, the Vietnamese Government’s policies with a progressive mindset, together with the commercialisation and application of AI, is substantially contributing to this process.
Ettikan Karuppiah, Director/Technologist at NVIDIA Asia Pacific South Region, said as Vietnamese companies are working on domestic Generative AI (GenAI) solutions intended to go global, the NVIDIA programme will provide technical advice, product development and marketing support, and in-depth technology training. It also offers help to startups through incubation, financial and technical assistance, and investor connection activities.
The programme aims to help improve the technical capabilities of Vietnamese software developers, bolster the development of Make-in-Vietnam software products, form a strong and sustainable software developer community, and support tech startups.
Meanwhile, Meta pledged to assist Vietnam to consolidate its leading position in digital economy. By exploring growth opportunities and providing innovative products, it looks to contribute to the country’s economic prosperity and create momentum for businesses to develop strongly in the digital era, said President of Global Affairs at Meta Nick Clegg.
Dung noted that with support from major electronics and semiconductor firms, Vietnam has been gradually perfecting investment policies and laws to create the best possible environment for high-tech companies, including those in the semiconductor and AI industries. The Government is set to issue a policy on support for technology, semiconductor, and AI investors soon, and a strong reform is expected.
For example, he elaborated, semiconductor and AI companies based in industrial and export processing zones will no longer have to seek investment approval but only register their investments. Within 15 days, they can receive investment registration certificates and immediately carry out their projects. Procedures will also be simplified.
Alexey Navolokin, Director for Commercial Sales Asia Pacific Region at AMD, held that the Vietnamese Government is devising many incentives and initiatives to promote innovation, including streamlining investment licensing procedures.
At a recent ceremony marking the National Innovation Centre’s fifth founding anniversary and Innovate Vietnam 2024, PM Pham Minh Chinh emphasised that innovation is a strategic choice, an objective requirement, a focal task. It is a leading priority in the country’s efforts to promote industrialisation, modernisation, and for rapid and sustainable development.
To fuel innovation, he asked for institutional perfection to be carried out first, with a focus on policies encouraging businesses to invest in science, technology, and innovation and ensuring their access to necessary financial resources and infrastructure. Another task is to enhance coordination among universities, research institutes, and businesses to develop high-quality human resources.
Ministries, sectors, and localities also need to provide optimal conditions for businesses and people, especially the young, to engage in entrepreneurship and innovation, and access financial resources, technological infrastructure, and highly skilled manpower, he added.
