FPT Announces US Investment, Workforce Development for AI and Semiconductor amid Biden's Vietnam Visit

HANOI, Vietnam--(BUSINESS WIRE)--On the occasion of US President Joe Biden’s State Visit to Vietnam, FPT Corporation (FPT) Chairman Truong Gia Binh called for collaboration and state support from Vietnam and US governments in workforce development, artificial intelligence (AI), and semiconductor industry.

The statement was delivered at the Vietnam – US Innovation & Investment Summit held on September 11 in Hanoi, with the participation of Vietnam Minister of Planning and Investment Nguyen Chi Dzung, US Secretary of State Antony Blinken, and both countries’ delegations. Participating in the panel discussion as one of Vietnam’s representative businesses, FPT Chairman emphasized the company’s steadfast commitment to advancing technology and strengthening bilateral ties between Vietnam and the US.

FPT’s proposal to the US government includes two primary focuses. Firstly, FPT advocates for comprehensive policies from the US government to nurture Vietnam's growth as a semiconductor ecosystem. Vietnam's leading corporation also proposes that its government invest in the training of 30,000 to 50,000 semiconductor professionals to meet this sector’s increasing demand.

Secondly, FPT seeks investment and support for FPT University's initiatives in training engineers specializing in both semiconductor chip design and AI, aiming to bolster the workforce's capabilities in these critical fields. With AI training being a strategic investment of the Corporation, FPT also announces the comprehensive strategic partnership with Landing AI, one of the US's leading Computer Vision Platform and AI Software companies, to accelerate AI integration across its comprehensive educational system, FPT Education. FPT University also recently established its Semiconductor Circuit Faculty, which will provide training programs for undergraduate, college, and postgraduate students starting in 2024.

FPT's strategic priorities closely align with critical agreements between the US and Vietnam, with the semiconductor industry and its workforce development as the centerpiece of the action plan unveiled during President Biden's visit. Since establishing its semiconductor subsidiary in 2022, FPT’s power management integrated circuits (PMICs) have completed the development phase and proceeded with mass production, with a plan to supply 25 million chips globally in the next two years.

FPT entered the American market in 2008 and has become a trusted partner of over 300 clients, including more than 30 companies on the Fortune 500 list. The United States stands as one of FPT's most important overseas markets, boasting the highest profit contribution with a 50% growth rate in 2022. By the end of 2023, FPT anticipates an investment of USD 100 million and a workforce of nearly 1,000 employees in this market. With continuous investments, FPT expects to create 3,000 more jobs by 2028 and reach USD 1 billion in revenue from the US market by 2030.

About FPT Corporation

FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam. FPT operates in three core sectors: Technology, Telecommunications, and Education. During over three decades of development, FPT has constantly provided practical and effective products to millions of people and tens of thousands of business and non-business organizations worldwide, establishing Vietnam’s position on the global tech map. Keeping up with the latest market trends and emerging technologies, FPT has developed the Made-by-FPT ecosystem of services, products, solutions and platforms, which enables sustainable growth for organizations and businesses and offers distinctive experiences to customers. In 2022, FPT recorded total revenue of US$1.87 billion and 60,000+ employees. For more information, please visit https://fpt.com.vn/en