Viet Nam’s proactive strategy for semiconductor and AI advancement

Pham made the above statment while addrssing a policy forum themed "Taking the lead: Viet Nam's proactive strategy for semiconductor and AI advancement in the new era" that took place in Ha Noi on March 14.

The Prime Minister emphasized that Viet Nam is pursuing development path based on science and technology, innovation, and digital transformation, while promoting green economy, digital economy, circular economy, creative economy, sharing economy, and knowledge economy.

The country is also strongly advancing the development of emerging industries such as artificial intelligence, cloud computing, the Internet of Things, and semiconductor chips, he noted.

Pham underscored the importance of an open and transparent institutional framework, saying that Viet Nam targets to cut at least 30 percent of administrative procedures and reduce compliance costs for citizens and businesses with a view to boosting semiconductor and AI development.

The Southeast Asian nation will focus on developing strategic infrastructure to support AI advancement and semiconductor research and production, step up investment in transportation infrastructure to lower input and logistics costs, enhance the competitiveness of goods, and expand IT, telecommunications, digital, and energy infrastructure.

The Prime Minister called on partners to provide financial support, including effective and reasonable concessional loans, and assist Viet Nam in establishing investment funds, such as venture capital funds.

He also emphasized the need to develop financial centers, upgrade the stock market, attract both direct and indirect investment, and create mechanisms to strengthen public-private partnerships to mobilize resources from the public and society.

Pham urged partners to transfer technology to Viet Nam via R&D centers and facilitate the participation of Vietnamese businesses in global supply and production chains as well as work with Vietnamese partners in enhancing smart management capabilities at enterprises, production facilities, and factories.

The event saw the participation of Deputy Prime Minister Nguyen Chi Dung, along with leaders of major global technology corporations in AI and semiconductors, such as the AI Alliance, NVIDIA, Honeywell, IBM, Marvell, Aitomatic, Meta, Sony, MediaTek, TSMC, Google DeepMind, Soitec, among others.

Delegates discussed topics such as global trends in AI and semiconductor development, opportunities for Viet Nam to integrate into the AI and semiconductor value chain, and groundbreaking policies to enhance Viet Nam's investment and business environment.

Leading global experts offered key recommendations to help Viet Nam gradually establish its position on the global technology map. The forum provided valuable insights into new trends and developments, reinforcing confidence in Viet Nam's potential as an emerging hub in the global AI and semiconductor value chain.

The launching ceremony of the semiconductor workforce development initiative, the incubation and growth initiative for semiconductor startups, and the support initiative for Vietnamese enterprises to join the global AI alliance was held at the event./.