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Vietnam Prime Minister calls for global investment at WEF

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh, speaking at the World Economic Forum (WEF) in Davos, has called for companies from developed economies to continue investing in Vietnam.

During his dialog with global corporations at the WEF on January 16, PM Chinh highlighted collaborative initiatives in the fields of artificial intelligence (AI) and semiconductor technology, as well as the ecosystems surrounding them.

He reiterated Vietnam’s dedication to the principle of “harmonious benefits and shared risks”.

The dialog, arranged by Vietnam’s Ministry of Planning and Investment in collaboration with the Vietnamese Embassy in Switzerland and FPT Corporation, were attended by major corporations, including Google, Mitsubishi Heavy Industries, Qualcomm and Siemens.

In line with Vietnam’s socio-economic development plan for 2021-2030, he outlined the nation’s focus on achieving rapid and sustainable growth through advancements in science, technological innovation, digital transformation, and the development of key industries such as AI, semiconductor and automotive.

Vietnam has taken concrete steps, including the establishment of national data centers and comprehensive investments across the semiconductor value chain, including design, manufacturing, and packaging, to solidify its position in these sectors.

Prominent players in the semiconductor industry such as Intel, Samsung, Amkor, and Qualcomm have expressed interest in and plans for expansion in Vietnam, underscoring the country’s increasing appeal in the sector.

Despite economic challenges in 2023, Vietnam demonstrated resilience by maintaining stability, controlling inflation, and attracting nearly US$37 billion in new foreign direct investment (FDI), with US$23 billion disbursed by the end of the year.

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