(MPI) - Minister of Planning and Investment Nguyen Chi Dung, permanent deputy head of the national steering committee on semiconductor industry development, on October 1 chaired a seminar on “Businesses and the young generation in the wave of artificial intelligence (AI) and semiconductors”, within the framework of Innovate Vietnam 2024 and the fifth anniversary of the Nation Innovation Centre (NIC).

Minister of Planning and Investment Nguyen Chi Dung addresses the event. Photo: MPI

Minister Dung stressed that Vietnam is ready and holds great potential to develop semiconductor and AI industries since the country has a stable political system and strong commitment to innovation and hi-tech industries

With an abundant population and vibrant, enthusiastic and young generation skilled with science, technology, engineering, and mathematics (STEM), Vietnam is in the golden period, he added.

Vietnam has chosen to develop semiconductors based on extensive and practical research, aiming to realize the direction set out by the Party, State and Government in catching up, moving forward and surpassing developed nations.

On September 21, the Prime Minister issued a national strategy for semiconductor industry development and a human resource development programme for the industry until 2030, with orientations to 2050. These are two important factors for the country to enter a new phase of promoting economic transformation in the fields of innovation, digital transformation and green transition, which is also a significance to the country’s industrialisation and modernization.

According to the minister, Vietnam has already established a large-scale AI and semiconductor ecosystem in the region, involving major corporations and global tech giants.

Vietnam will soon become a strategic destination for tech corporations to expand their investment, thus he suggested for synchronized policies, infrastructure, and human resources to meet investors’ needs, as well as attract FDI wave so that the country participate deeply in the global value chain.

The country is continuously perfecting its legal framework and investment policies to create all favourable conditions for investors, particularly semiconductor and AI companies. The Ministry of Planning and Investment has created a draft decree on the establishment, use, and management of an investment support fund, in which administrative procedures will be simplified, and more policies to support enterprises expand investment and invest in industrial parks, economic zones, and export processing zones.

A national steering committee for the development of the semiconductor industry was established, with Prime Minister Pham Minh Chinh is the head of the committee, and deputy heads are MPI minister and Minister of Information and Communications.

Additionally, the NIC has become the core of the country's innovation ecosystem and a bridge between the State, enterprises, training institutes, research centres, financial institutions and incubation support units to lead, build and develop Vietnam's innovation. The country also formed three hi-tech zones in Hanoi, Da Nang, Ho Chi Minh City, which are ready to attract hi-tech enterprises.

“We call on investors and enterprises to continue trusting in Vietnamese market as well as the Government’s companionship, making contribution the host country’s development”, Minister Dung said./.

Bao Linh

Ministry of Planning and Investment