FPT unveils workforce development strategy amid Biden’s Vietnam visit

Dr. Truong Gia Binh, Chairman of FPT
Dr. Truong Gia Binh, Chairman of FPT

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 govts 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.

What were FPT’s suggestions to the delegation?

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 Corporation’s proposal to the US government includes two primary focuses. Firstly, FPT advocates for comprehensive policies from the US govt to nurture Vietnam’s growth as a semiconductor ecosystem.

One of Vietnam’s leading corporation also proposes that the country’s government invest in the training of 30,000 to 50,000 semiconductor professionals to meet this sector’s increasing demand. Secondly, FPT Corporation also seeks investment and support for FPT University’s initiatives in training engineers specializing in both semiconductor chip design and artificial intelligence, aiming to bolster the workforce’s capabilities in these critical fields.

With AI training being a strategic investment, FPT announced the comprehensive strategic partnership with Landing AI, one of the US’s leading Computer Vision Platform and AI Software firms, to accelerate AI integration across its 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.

What is the market reach of FPT in the US?

FPT’s priorities align with 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 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 over 30 companies on the Fortune 500 list. The US is one of FPT’s most important 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.