He was speaking at a meeting with executives from Google, Mitsubishi Heavy Industries, Qualcomm, and Siemens in Davos, Switzerland, Tuesday where he is attending the World Economic Forum.

Vietnam Prime Minister Pham Minh Chinh speaks with global business representatives in Davos, Switzerland on Jan. 16, 2023.

The meeting, organized by the Ministry of Planning and Investment, the Vietnamese embassy in Switzerland and tech giant FPT Group, prioritized discussions about the three sectors.

Chinh said Vietnam's 2021-30 socio-economic development strategy had identified resources needed for the rapid and sustainable development of science, technology, innovation, creativity, and digital conversion.

The AI, semiconductor and auto industries were important in this regard.

Vietnam had announced an AI development strategy that included building national data centers.

It considered the semiconductor industry a new driving force for development, and planned to invest in all three areas: design, manufacture and packaging.

In terms of automobile technologies, developing electric cars, using clean materials, low carbon emissions, and green transportation were among its priorities.

"To develop these fields, Vietnam will promote three strategic breakthroughs: strategic infrastructure, training high-quality human resources and perfecting institutions."

The breakthroughs would facilitate and reduce costs for businesses and the public.

Businesses would hopefully cooperate and invest effectively and sustainably in Vietnam, and his government would accompany and cooperate with them based on the principle of harmonizing the interests of the state, people and businesses, and would share their risks.

The company executives said Vietnam has been attracting many semiconductor players like Intel, Samsung, Amkor, Qualcomm, Infineon, Marvell, and Hana Micron.

The American Semiconductor Industry Association, the Asian Semiconductor Association and a number of corporations also appreciate Vietnam's potential in this field, they said.

Chinh said Vietnam was able to maintain economic stability, control inflation and promote growth even amid all the challenges in 2023.

It attracted nearly US$37 billion worth of FDI, he said.

The country relies on internal resources but at the same time welcomes support and assistance from international partners, he added.

Manpower training crucial for foreign investment attraction

As foreign-invested businesses always need high-quality human resources to apply new technologies, training skilled manpower is believed to help Vietnam attract more foreign investment.

Public investment meets 82% of PM's target

Vietnam disbursed VND580 trillion ($23.78 billion) in public investment last year, 82% of the set goal by Prime Minister Pham Minh Chinh.

Approx. 800 billion VND invested to build Cam Ly rail bridge

BAC GIANG- The Ministry of Transportation approved the investment policy of the Cam Ly rail bridge project at Km24+134 on Kep-Ha Long railway. The project will help to ease congestion of the current rail bridge, ensure smooth traffic and reduce impacts on operation and exploitation of the railway.

Hiep Hoa invests 310 billion VND to connect to belt road No 4 in Hanoi

BAC GIANG- The route connecting the provincial road 296 to the belt road No 4 (in Hanoi capital) with nearly 6.4 kilometre length has been invested by Hiep Hoa district until 2025.

Singaporean, Chinese investors eye stakes in six wind power plants

Singaporean and Chinese companies are interested in acquiring part or all of six wind power plants in the central province of Quang Tri.

Source: VnExpress