FPT Corporation Announces $100M US Investment, Calls for Government Support to Foster Vietnam’s Semiconductor Ecosystem

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FPT Corporation, a leading technology company in Vietnam, has announced its plans to invest $100 million in the US market by the end of this year. The corporation is also calling on the US government to support the growth of Vietnam’s semiconductor ecosystem. This announcement was made by Truong Gia Binh, the chairman of FPT Corporation, at the Vietnam-US Innovation and Investment Summit, where he was joined by US President Joe Biden and Vietnamese Prime Minister Pham Minh Chinh.

By the end of 2023, FPT expects to have invested $100 million and have a workforce of nearly 1,000 employees in the US market. With further investments, the company aims to create an additional 3,000 jobs by 2028 and generate $1 billion in revenue from the US market by 2030.

During the summit, FPT put forward a proposal to the US government with a focus on two key areas. Firstly, the corporation urged the US government to implement comprehensive policies to support the growth of Vietnam’s semiconductor ecosystem. FPT suggested that the government should invest in the training of 30,000 to 50,000 semiconductor professionals to meet the increasing demands of this sector. Secondly, FPT sought investment and support for its initiatives at FPT University to train engineers specializing in semiconductor chip design and artificial intelligence (AI), with the aim of enhancing the workforce’s capabilities in these critical fields.

FPT also took the opportunity to announce a strategic partnership with Landing AI, a leading US computer vision platform and AI software company. This partnership aims to accelerate the integration of AI across FPT Education’s system.

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These strategic priorities set by FPT align closely with the agreements between the US and Vietnam, with the semiconductor industry and workforce development being key elements of the action plan unveiled during President Biden’s visit. The US has committed to providing increased support for Vietnam in the training and development of a high-tech workforce.

Both President Biden and Prime Minister Chinh have pledged to support the rapid development of Vietnam’s semiconductor ecosystem and work energetically together to improve Vietnam’s position in the global semiconductor supply chain. To this end, the US and Vietnam have launched semiconductor workforce development initiatives, with an initial seed funding of $2 million from the US government. The Vietnamese government and the private sector will also provide support in the future.

This move by FPT Corporation highlights the company’s commitment to expanding its presence in the US market and contributing to the growth of Vietnam’s semiconductor industry. By investing in the training of semiconductor professionals and fostering collaboration with leading AI companies, FPT aims to strengthen its capabilities and seize opportunities in the global technology landscape.

Overall, these initiatives demonstrate the strong partnership between the US and Vietnam in promoting science, technology, and digital innovation cooperation. As Vietnam continues to develop its semiconductor ecosystem, it is poised to become an important player in the global high-tech industry.

Frequently Asked Questions (FAQs) Related to the Above News

What is the significance of FPT Corporation's investment in the US market?

FPT Corporation's investment in the US market signifies its commitment to expanding its presence and contributing to the growth of Vietnam's semiconductor industry. It aims to strengthen its capabilities and seize opportunities in the global technology landscape.

How much is FPT Corporation investing in the US market?

FPT Corporation plans to invest $100 million in the US market by the end of this year. By the end of 2023, it expects to have invested $100 million and have a workforce of nearly 1,000 employees in the US market.

How many jobs does FPT Corporation plan to create in the US by 2028?

With further investments, FPT Corporation aims to create an additional 3,000 jobs in the US market by 2028.

What proposals did FPT Corporation put forward to the US government?

FPT Corporation urged the US government to implement comprehensive policies to support the growth of Vietnam's semiconductor ecosystem. It suggested investing in the training of 30,000 to 50,000 semiconductor professionals and supporting initiatives at FPT University to train engineers specializing in semiconductor chip design and artificial intelligence (AI).

Who has FPT Corporation partnered with in the US?

FPT Corporation has announced a strategic partnership with Landing AI, a leading US computer vision platform and AI software company. This partnership aims to accelerate the integration of AI across FPT Education's system.

What are the key elements of the action plan unveiled during President Biden's visit to Vietnam?

The key elements of the action plan unveiled during President Biden's visit to Vietnam include providing increased support for Vietnam in the training and development of a high-tech workforce and supporting the rapid development of Vietnam's semiconductor ecosystem.

What initiatives have been launched by the US and Vietnam to develop the semiconductor workforce?

The US and Vietnam have launched semiconductor workforce development initiatives, with an initial seed funding of $2 million from the US government. The Vietnamese government and the private sector will also provide support in the future.

What is the goal of FPT Corporation's partnership with Landing AI?

The goal of FPT Corporation's partnership with Landing AI is to accelerate the integration of AI across FPT Education's system, enhancing the capabilities of the workforce in semiconductor chip design and AI.

How does FPT Corporation's investment align with the agreements between the US and Vietnam?

FPT Corporation's investment aligns closely with the agreements between the US and Vietnam, focusing on the semiconductor industry and workforce development. Both countries have pledged to support the rapid development of Vietnam's semiconductor ecosystem and improve its position in the global semiconductor supply chain.

What is the potential impact of Vietnam's development in the semiconductor ecosystem?

Vietnam's development in the semiconductor ecosystem has the potential to make it an important player in the global high-tech industry. The partnership between the US and Vietnam in promoting science, technology, and digital innovation cooperation further supports this growth.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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