Prime Minister Pham Minh Chinh speaking at the meeting. Photo: VOV

The Prime Minister addressed the second meeting of the National Steering Committee on Semiconductor Industry Development in Hanoi on Monday, which was connected online to agencies and universities in major cities across Vietnam.

Vietnam has begun to take part in high value-added stages of the global semiconductor industry, like manufacturing semiconductor equipment, materials and components, and is aiming to have the first chip factory led by the Military Telecommunications Group Viettel, according to a report at the meeting.

A representative of the Ministry of Finance said NVIDIA and Qualcomm choosing Vietnam as a strategic base for their production, research and development of AI and chips has created a strong ripple effect, leading to a supply chain with huge investment value in Vietnam, and Vietnam’s higher position in the global semiconductor and technology landscape.

Prime Minister Chinh said semiconductor chips are pivotal in the Fourth Industrial Revolution, serving the development of databases and artificial intelligence (AI). Vietnam cannot stand aside if it wants to build an independent and autonomous economy, the Prime Minister said.  

“Develop a comprehensive, coordinated, practical and effective semiconductor ecosystem. Fine-tune mechanisms and policies, remove bottlenecks in infrastructure, institutions and human resources. Incentives shift from attracting investment to preferential policies for technology transfer,” according to PM Chinh.