Vietnam is ready to welcome investors
Speaking at the seminar on development trends of the semiconductor industry, artificial intelligence and opportunities for Vietnam chaired by the Ministry of Planning and Investment (MPI), organized by the National Innovation Center (NIC) and NVIDIA Corporation (USA), taking place in Hoa Lac on December 11, Minister of MPI Nguyen Chi Dung said that the joint statement on upgrading Vietnam - US relations to Comprehensive Strategic Partnership stated that breakthrough cooperation between the two countries in the coming period will be innovation, high technology, including semiconductor technology and artificial intelligence (AI).
Recently, Vietnam has actively prepared conditions to welcome and cooperate with US businesses and investors in the fields of innovation, semiconductor industry and artificial intelligence.
The Minister said that Vietnam has gradually improved its system of policies and laws on investment and enterprises to create the most favorable conditions for investment and business procedures for investors; and continued to improve the "one-stop" mechanism to handle procedures for investors.
“We are building a Semiconductor Industry Development Strategy, as well as a Semiconductor Industry Human Resource Development Project, which will be issued early in 2024.
Accordingly, the goal is to train at least 50,000 engineers for the industry by 2030, of which 15,000 are expected to be high-quality engineers in microchip design, to promptly meet the human resource needs of semiconductor enterprises investing in Vietnam," said the head of the Ministry of Planning and Investment.
The Minister said that during the recent visit to the United States by the Prime Minister of Vietnam in September 2023, NIC also signed specific cooperation agreements with US partners to develop training, research, and incubators for semiconductor product design and development such as with Synopsys, Cadence, and Arizona State University.
“Vietnam has been and is the chosen location of many large corporations in the semiconductor industry from Japan, Korea, Taiwan (China) and especially corporations from the United States such as Intel, Amkor in the packaging and testing sector; Marvell, Qorvo, Qualcomm in the design sector; Synopsys, Cadence in providing semiconductor chip design tools... This is also proof of the favorable business investment environment of Vietnam for investors in the semiconductor industry,” Mr. Dung emphasized.
According to the Minister, the National Assembly has recently issued a Resolution allowing the Government to draft a Decree to establish an Investment Support Fund for a number of high-tech projects, including projects in the semiconductor and artificial intelligence industries. The Decree is being actively developed and will soon be issued in mid-2024.
“The Vietnamese Government has been making efforts to prepare the best conditions to welcome investors in the semiconductor, high-tech, and artificial intelligence industries, demonstrating its determination to concretize the cooperation contents in the Joint Statement of the two countries,” said Mr. Dung.
Deputy Minister of Information and Communications Phan Tam said that the Ministry is preparing to submit to the Government the Digital Technology Industry Development Strategy and the Semiconductor Technology Development Strategy. In which, important infrastructure for AI industry development such as digital infrastructure and human resources infrastructure occupy an important position in the strategy.
“Digital infrastructure will be fiber optic infrastructure, 5G mobile, especially cloud computing. Human resource infrastructure is a network of digital training facilities in the sense of widely applying digital technology, including artificial intelligence AI to change training methods as well as improve the quality of training of digital technology human resources. With efforts to build policy mechanisms and development strategies, the Ministry believes that when established in Vietnam, NVIDIA legal entity will have a very favorable environment for development,” Deputy Minister Phan Tam affirmed.
NVIDIA strives to promote a Vietnamese AI
Mr. Jensen Huang, President of NVIDIA Corporation, assessed that AI is becoming a new wave and an important condition for the development of every country. No country can afford to be left behind in the wave of artificial intelligence.
“I believe this is Vietnam's opportunity,” said Mr. Jensen Huang.
According to NVIDIA President, to take advantage of the new wave, three factors are needed: data, software human resources and infrastructure.
“First, we need a digital Vietnam and you have had decades of digitizing data and digitizing 100% of the population. You also have the second component, which is a team of engineers with high software skills. Third, infrastructure, AI requires supercomputers to process and turn data into intelligence.
AI is also human and to have AI humans, we need to build a new infrastructure, just like Viettel builds the Internet, builds highway infrastructure. One thing is that AI needs energy, (data), in the future we need supercomputers to serve production and manufacturing, get raw data to produce, analyze into intelligence for Vietnamese society with Vietnamese engineers", said Mr. Jensen Huang.
NVIDIA President said that Chip and AI are extremely important and vital strategies for a country. Currently, NVIDIA is a partner of Vietnam, with annual revenue of about 500 million USD. Current customers in Vietnam are Viettel, FPT, Vingroup, VNG. NVIDIA is constantly expanding, making efforts to promote a "Vietnamese AI".
“We are committed to making Vietnam our second homeland, we will establish a legal entity in Vietnam, the Minister can appoint a partner so that we can cooperate to realize the dream of building a new Vietnam,” he said.
Mr. Jensen Huang said that for the United States, artificial intelligence and chips are strategic, and NVIDIA is a participating member. For Vietnam, through the message of the head of the Government, he believes that Vietnam will be NVIDIA's homeland and will be NVIDIA's largest center.
“This trip will definitely open up future trips. I will return to Vietnam, to NVIDIA's second home,” he said.
NVIDIA will also further expand its partnerships with Viettel, FPT, Vingroup, and VNG in developing computing infrastructure for artificial intelligence,” said Mr. Huang.
At a meeting with Prime Minister Pham Minh Chinh on the afternoon of December 10, NVIDIA CEO said the company has invested about 250 million USD in Vietnam, identifying Vietnam as an important market and wishing to establish a "stronghold".
He also affirmed: “The new wave is very big, but it is also very fast. The new wave is happening faster than all the other revolutions that have happened in the past. In just 1 year, AI has been in all our stories and we acted very quickly to be here with you.”
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