PM Pham Minh Chinh (second from right) speaks at a panel discussion with foreign firms, Switzerland, January 16, 2024. (Photo: VNA/Duong Giang)

The Prime Minister, who is in Switzerland for the 54th Annual Meeting of the World Economic Forum, encouraged the firms including Google, Siemens, Mahindra, Ericsson, Visa, and Qualcomm to invest in research and development, core technologies, and AI application in Vietnam.

He said that Vietnam will develop preferential mechanisms, policies, and necessary tools to promote the development of the automobile manufacturing industry, especially electric cars. Vietnam aims to raise public awareness of green transition and encourage the use of electric vehicles.

PM Chinh said Vietnam will increase investment in all three stages of the semiconductor value chain including designing, manufacturing, and packaging. The country will also develop supporting and material industries.

He urged the corporations to establish training centers, research and development centers, design centers, and chip testing centers at the National Innovation Center (NIC) and other facilities in Vietnam. 

He emphasized that Vietnam boasts great potential and advantages for high tech development and innovations. The Vietnamese government is committed to supporting and creating favorable conditions for foreign investors to do effective, sustainable, and successful business in the country, Mr. Chinh noted.