FPT will invest 100 million USD in the US later this year

FPT has just announced plans to invest $100 million in the US later this year and proposed that the US government nurture a semiconductor ecosystem in Vietnam.

The above content was stated by Mr. Truong Gia Binh, Chairman of the Board of Directors of FPT Corporation, in the Discussion section at the Vietnam - US Summit on Innovation and Investment held in Hanoi on September 11. The event was attended by Minister of Planning and Investment Nguyen Chi Dung, US Secretary of State Antony Blinken and delegations from the two countries.

FPT Chairman said the corporation plans to invest $100 million and employ nearly 1,000 people in the US by the end of this year. With continued investments, FPT expects to create more than 3,000 jobs by 2028 and achieve $1 billion in revenue from the US market by 2030.

Along with the investment plan, FPT also announced a comprehensive strategic cooperation with LandingAI - a company in the field of machine vision and artificial intelligence in Silicon Valley (USA) to accelerate the process of bringing AI into training at the FPTEducation system.

FPT entered the US market in 2008 and has become a partner of more than 300 customers, including more than 30 companies in the Fortune 500 list. The US has become one of FPT's most important foreign markets, contributing to profits with a growth rate of 50% in the previous year.

Mr. Truong Gia Binh and leaders of the US delegation at the Vietnam - US Summit. Photo: FPT — FPT Chairman Truong Gia Binh talks with American business leaders. Photo: *FPT*

In his proposal to the US Government, the Chairman of the Board of Directors of FPT raised two issues. First, the group proposed that the US support investment in training 30,000 to 50,000 semiconductor experts to meet the growing demand of the industry. FPT hopes that FPT University will receive investment to train engineers specializing in semiconductor chip design and AI, in order to improve the capacity of the workforce.

"As a representative of Vietnamese enterprises, FPT hopes that the US Government will have comprehensive support policies to turn Vietnam into a country with a semiconductor ecosystem," Mr. Truong Gia Binh affirmed. FPT also proposed calling for investment in Vietnam, especially from large US enterprises such as Boeing, AT&T, Qualcomm, Intel, and Ford.

The proposal of FPT Chairman is in line with the agreement between the US and Vietnam during the visit of US President Joe Biden. In which, the main goal of the two countries is to cooperate in developing the semiconductor technology industry and developing the workforce.

In 2022, FPT announced the establishment of FPT Semiconductor - a company that designs and manufactures microchips. To date, FPT Semiconductor's products have gone through three improved versions and can be mass-produced. FPT plans to supply 25 million chips globally in 2024 and 2025.

Previously, FPT University announced the establishment of the Semiconductor Microchip Faculty, aiming to supplement the high-quality human resources that are lacking in Vietnam. The Faculty is expected to welcome the first batch of students in 2024 with the orientation of specialized training in microchip design and conducting research for the semiconductor microchip industry in Vietnam.

Minh Son

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