FPT Corporation seeks US support for Vietnam’s semiconductor industry

Photo credit: FPT

FPT Corporation, a Vietnamese IT conglomerate, has called on the US government to nurture the growth of Vietnam’s semiconductor ecosystem.

The proposal was delivered at the Vietnam-US innovation and investment summit held yesterday in Hanoi as part of US President Joe Biden’s visit to the country.

Accordingly, FPT said Vietnam needs to train about 30,000 to 50,000 semiconductor professionals to meet increasing demand in the sector. FPT University, one of the conglomerate’s educational institutions, is doubling down on training engineers who specialize in both semiconductor chip design and AI.

FPT plans to supply 25 million of its recently developed power management integrated circuits worldwide over the next two years. It also expects to invest US$100 million in the US market by the end of 2023.

The summit also included leaders from VinFast, VNG Corporation, and MoMo, alongside representatives from US tech firms such as Intel, Microsoft, and Google.

AI and semiconductors have been focal points of President Biden’s one-day visit to Vietnam as part of the US’ efforts to reduce chip manufacturing exposure to Chinese-linked risks.

Specifically, US semiconductor firm Amkor Technology will start operating a US$1.6 billion factory in Bac Ninh Province, located near Hanoi, in October. Meanwhile, chipmaker Marvell Technology has announced plans to open a semiconductor design center in Ho Chi Minh City.

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