Vietnam is focusing on the development of science, technology, innovation, and digital conversion as part of its 2021-30 socio-economic development strategy. At a recent meeting with executives from Google, Mitsubishi Heavy Industries, Qualcomm, and Siemens, Prime Minister Pham Minh Chinh emphasized the importance of these sectors in driving rapid and sustainable development.
To support these initiatives, Vietnam has announced an AI development strategy that includes the establishment of national data centers. Additionally, the country recognizes the semiconductor industry as a new driving force for development and plans to invest in all areas, including design, manufacture, and packaging. In the automobile sector, Vietnam aims to develop electric cars using clean materials, low carbon emissions, and green transportation.
To facilitate these advancements, the Vietnamese government will focus on three strategic breakthroughs: strategic infrastructure, training high-quality human resources, and perfecting institutions. By prioritizing these areas, Vietnam aims to reduce costs for businesses and the public while attracting effective and sustainable investments.
The country has already been successful in attracting numerous semiconductor players, including Intel, Samsung, Amkor, Qualcomm, Infineon, Marvell, and Hana Micron. International organizations like the American Semiconductor Industry Association and the Asian Semiconductor Association recognize Vietnam’s potential in this field.
Prime Minister Chinh highlighted that despite the challenges faced in 2023, Vietnam has maintained economic stability, controlled inflation, and promoted growth. The country attracted nearly US$37 billion worth of foreign direct investment, relying on internal resources while also welcoming support from international partners.
By prioritizing the development of science, technology, and innovation, Vietnam aims to position itself as a leading player in the global technology landscape. The government’s commitment to investing in these sectors and creating an enabling environment for businesses will drive sustainable growth and prosperity for the country.