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Minister of Planning and Investment Nguyen Chi Dung. Photo: NIC

According to the Minister of Planning and Investment, major global technology corporations are set to invest heavily in Vietnam, further expanding their presence in the country.

At the sidelines of the Vietnam Innovation Day 2024 event, local and international experts shared their insights on Vietnam’s development through the lenses of artificial intelligence (AI) and the semiconductor industry.

Speaking at the forum "Businesses and the Young Generation in the Wave of AI and Semiconductors," Minister of Planning and Investment Nguyen Chi Dung emphasized that Vietnam has the necessary conditions to foster economic growth and overcome the middle-income trap.

Vietnam's stable political situation, strong commitment to economic development focused on high-tech industries, and a young workforce in a "golden population" period with technological capabilities position the country as a strategic player in global technology.

Minister Dung noted that the decision to prioritize AI and semiconductor industries is based on thorough research and analysis of global trends. This strategic focus aims to help Vietnam catch up, keep pace, and surpass other nations in these key sectors.

With the right approach and strong government support, Vietnam can not only meet domestic demand for technology-related human resources but also supply talent to international markets and integrate deeper into the global value chain.

In recent years, Vietnam has built a large ecosystem for AI and semiconductors in the region, with the involvement of leading global tech corporations such as Google, Meta, NVIDIA, Qualcomm, Intel, and Amkor.

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Dr. Ettikan Karuppiah from NVIDIA encourages the emergence of localized AI models in Vietnam. Photo: NIC

“Vietnam is poised to become a strategic choice for tech giants. Those already here will expand their investments, while others will enter the market with significant projects,” Minister Dung stated.

He stressed that Vietnam must prepare its policies, infrastructure, and workforce to welcome these tech giants. Additionally, the government must effectively implement AI and semiconductor strategies that have already been approved.

Tran Dang Hoa, Chairman of FPT Semiconductor, highlighted the challenges facing Vietnam in developing its AI and semiconductor workforce. Despite the growth in these sectors, Vietnam still faces hurdles such as a shortage of specialized engineers, inadequate training programs, and a lack of experienced lecturers.

Currently, Vietnam has around 5,000 to 10,000 semiconductor engineers in design and testing, and more efforts are needed to close the gap with competitors in the region.

Dr. Ettikan Karuppiah from NVIDIA emphasized the importance of localizing AI models in Vietnam. He pointed out that Vietnam has already developed AI models that are fine-tuned with characteristics suitable for local culture, based on open-source large language models.

According to Dr. Karuppiah, developing domestic generative AI solutions will help create tools tailored to local realities, better control AI models, and protect users' data within the country.

Forum participants agreed that now is a "golden time" for Vietnam to accelerate its AI and semiconductor sectors. Vietnam has the potential to become a regional and global innovation hub, but this requires strong collaboration between the government, businesses, and the community.

Trong Dat