Outstanding Vietnamese AI and semiconductor solutions are supported internationally

This is one of the commitments made by the Ministry of Planning and Investment at the announcement ceremony of the Vietnam Innovation Challenge Program (VIC) 2024 on the afternoon of March 18 in Hanoi.

This year’s program focuses on two areas: semiconductors and AI. All components in the ecosystem of these areas in Vietnam, such as large enterprises, SMEs, startups, and research institutes, can participate.

Mr. Vu Quoc Huy, Director of the Vietnam Innovation Center NIC, said that selected projects will have the opportunity to access international markets and participate in the global value chain.

In addition, the ministry and relevant agencies will have policies and solutions to support parties implementing solutions to access resources to develop and perfect products; receive professional support through the NIC network, thereby providing experts and incubation programs to improve capacity in the fields of AI and semiconductors.

Regarding the reason for choosing solutions in these two fields, the ministry said that these are two of the key technology industries of the 4.0 technology revolution. In Vietnam, these two fields are increasingly receiving more attention and investment, while contributing to changing and strongly promoting the economic and social development of Vietnam.

According to Deputy Minister of Planning and Investment Tran Duy Dong, Vietnam is emerging "as a potential factor in the semiconductor industry", with many advantages such as strategic location, increasingly developed digital infrastructure, technology-savvy people and a young, creative workforce. Citing a forecast from the Southeast Asia Semiconductor Association, he said that Vietnam's semiconductor market could grow by more than 6% in the 2022-2027 period.

Meanwhile, AI is considered a field that will fundamentally change the way people research, work, and create content, and is predicted to contribute trillions of dollars to the global economy.

According to Deputy Minister Dong, Vietnam has also taken strong steps in promoting AI research, application and human resource development. In 2021, Vietnam issued the National Strategy on AI Research, Development and Application to 2030. In 2022, Vietnam ranked 55th out of 180 countries and territories in the AI ​​Readiness Index, up seven places, according to a report by Oxford Insights.

At the event, Mr. Rafael Frankel, Director of Public Policy for Southeast Asia at Meta, supported the inclusion of AI as a priority area for the program's challenge. According to him, this will promote ideas and take advantage of opportunities in the semiconductor and AI industries in Vietnam, contributing to the integration of Vietnam's technology sector into the global digital economy.