Viet Nam commits to developing semiconductor, AI, automobile industry

The Government chief briefed the business leaders on Viet Nam's socio-economic development strategy in the coming decades, striving to become a developing economy with a modern industry by 2030 and a developed, high-income country by 2045.

After nearly 40 years of reform, Viet Nam has emerged from a least-developed country to become a low middle-income nation with the GDP size rising from around US$4 billion to US$430 billion in 2023 and GDP per capita from US$100 to US$4,300 in 2023.

Viet Nam has set up relations with 193 countries around the world, strategic and comprehensive partnership frameworks with 30 countries including five major powers.

The Southeast Asian nation has become an important link in the global and regional supply chains, one of the 20 leading economies in terms of trade, and a signatory of 16 free trade agreements.

As for the auto industry, Viet Nam has issued the national strategy on green growth for the 2021-2030 period with a vision to 2050, including a roadmap to convert vehicles to electric power and encourage vehicles to use clean, green energy.

The country is determined to pursue and develop an ecosystem for the semiconductor industry and will soon issue a strategy for developing the semiconductor industry and a project to train 50,000 engineers in this field.

Prime Minister called on foreign firms to invest in research and development, master core technology, and apply AI in Viet Nam while encouraging them to support Vietnamese businesses in this process, and at the same time collaborating with universities and research facilities to build engineer training programmes on AI and digital technology solutions.

Pham shared that Viet Nam has multiple advantages to develop high technology, and apply science - technology and innovation, affirming that Viet Nam will still remain a trusted partner and an important link in the global semiconductor, automotive technology and AI value chains.

Pham affirmed his Government is committed to accompanying, supporting and creating favorable conditions for foreign businesses to successfully invest in the country.

During the panel discussion, global leading businesses expressed their desires to cooperate with Viet Nam in the fields of AI, automotive technology, semiconductor chips and their ecosystem development./.