FPT announces US investment, workforce development for AI and semiconductor

FPT Corporation has called for cooperation and support from the Vietnamese and US governments in the fields of human resources development, artificial intelligence (AI), and the semiconductor industry.

The statement was made by FPT Chairman Truong Gia Binh at the Vietnam-US Innovation & Investment Summit on the occasion of US President Joe Biden's visit to Vietnam, held on September 11 in Hanoi with the participation of Vietnamese Minister of Planning and Investment Nguyen Chi Dung, US Secretary of State Antony Blinken and delegations from both countries.

Delegates attend the panel discussion. Photo: FPT

Participating in the panel discussion, the Chairman of FPT emphasized the company's unwavering commitment to advancing technology and strengthening bilateral relations between Vietnam and the US.

FPT's proposal to the US government has three main focuses. First, it calls for direct investment and the removal of Vietnam from the US "country risk" list, a move that would signal increased confidence and cooperation between the two nations' businesses. The investment will also be particularly transformative for FPT's participation in the Open Source AI Alliance, led by US tech giants including IBM, Meta, Intel, and Dell.

Second, the Vietnamese tech group is advocating for comprehensive policies from the US government to support Vietnam's growth as a semiconductor ecosystem. It also suggests the government invest in training 30,000 to 50,000 semiconductor professionals to meet the sector's growing demand.

The Chairman added that the company is seeking investment and support for FPT University's initiatives to train engineers specializing in both semiconductor chip design and AI, with the aim of strengthening the workforce's capabilities in these critical areas.

With AI training being a strategic investment for the company, FPT also announced a strategic partnership with Landing AI, one of the leading U.S. computer vision platform and AI software companies, to accelerate the integration of AI into its comprehensive education system, FPT Education, he added.

FPT University also recently launched its Semiconductor Circuit Faculty, which will offer training programs for undergraduate, graduate, and post-graduate students starting in 2024.

The company's strategic priorities are closely aligned with key agreements between Vietnam and the US, with the semiconductor industry and its workforce development at the heart of the action plan unveiled during U.S. President Biden's visit.

Since the establishment of its semiconductor subsidiary in 2022, FPT's product line has gone through three iterations and reached mass production, with plans to supply 25 million chips worldwide by the end of 2023.

Since entering the US market in 2008, FPT has become a trusted partner to more than 300 customers, including more than 30 companies on the Fortune 500 list. The U.S. is one of FPT's most important overseas markets, with the highest profit contribution and a growth rate of 50% in 2022.

By the end of 2023, FPT plans to invest US$100 million and employ nearly 1,000 people in this market. With continued investment, the Group expects to create another 3,000 jobs by 2028 and reach $1 billion in revenue from the U.S. market by 2030.

The group expects to create 3,000 more jobs by 2028 and reach $1 billion in revenue from the US market by 2030.