The FPT Corporation anticipates investing $100 million and employing nearly 1,000 people in the US by the end of this year.

The statement was made by Mr. Truong Gia Binh, Chairman of the FPT Corporation, at the Vietnam - US Innovation & Investment Summit held on September 11 in Hanoi on the occasion of US President Joe Biden’s State visit to Vietnam.

At the Summit, Mr. Binh called for cooperation and State support from the Vietnamese and US Governments in workforce development, artificial intelligence (AI), and the semiconductor industry.

Representing Vietnamese businesses in a panel discussion, he emphasized the corporation’s steadfast commitment to advancing technology and strengthening bilateral ties between Vietnam and the US.

FPT has made a proposal to the US Government that includes three primary focuses. It first calls for direct investment and the removal of Vietnam from the “country risk” list by the US, a move that would signal increased confidence and cooperation between both countries’ 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.

Secondly, 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 the sector’s rising demand.

Finally, 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 FPT, it also announced a 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 product line has gone through three version improvements and has reached mass production, with a plan to supply 25 million chips globally by the end of 2023.

FPT entered the US market in 2008 and has become a trusted partner of over 300 clients, including more than 30 companies on the Fortune 500 list. The US stands as one of FPT’s most important overseas markets, boasting the highest profit contribution and with 50 per cent growth in 2022. With continuous investments, FPT expects to create 3,000 more jobs by 2028 and reach $1 billion in revenue from the US market by 2030.