Quoted from channelnewsasia.com, Vietnam is swiftly becoming one of Southeast Asia's most energetic economies, propelled by a young, educated workforce that is influencing the global technology and business arena.
In spite of worldwide uncertainties and changing trade dynamics, the nation has preserved its stability and strong growth. In the initial half of 2024, Vietnam's economy expanded by 6.42 percent, ranking it among the 20 quickest-growing globally.
A significant emphasis on technology and innovation is aiding Vietnam in establishing itself as an emerging player in the information and communications technology (ICT) and semiconductor sectors.
A Growing Environtment of New Tecnologies
Illustration of innovation VR will be created in future Vietnam. Source : Unsplash
With the backing of more than 70,000 technology companies, Vietnam's ICT industry has experienced substantial growth, with revenues climbing from US$60.9 billion (S$78.9 billion) in 2016 to US$154 billion in 2023.
Vietnam's skilled technology experts, alongside its national digital transition goals, have positioned the country as an appealing center for new talent, as well as research and development.
Global technology leaders like Amazon, Samsung, Sumitomo Corporation, and Lego have set up operations in this region to harness the possibilities of cutting-edge technologies.
The nation’s progress in AI (artificial intelligence) preparedness, which placed it 39th worldwide last year, along with its aspirations to emerge as a significant player in the global semiconductor value chain by 2045, underscore its increasing technological momentum.
FPT, based in Vietnam, is crucial in influencing the nation's international reputation. Earlier this year, FPT entered into a memorandum of understanding with the American tech multinational Nvidia to invest US$200 million in a factory focused on enhancing AI and cloud capabilities.
In 2022, FPT established FPT Semiconductor to aid the country's advancement in chip design. The private educational establishment, FPT University, has recently launched its Faculty of Semiconductor Circuits, which will offer training programs for both undergraduate and postgraduate students starting in 2024.
“Usually, a software engineer requires 18 months to shift to chip design,” stated Dr. Truong Gia Binh, chairman of FPT. "Using the proper strategy, Vietnamese software engineers can achieve that advancement in merely three months."
Investing into Future Technology Skills
Young Worker with High Technological Skills from Vietnam. Source : Unsplash
Vietnam, with a median age of 33.1 years, boasts a young populace that generates 57,000 graduates in information technology (IT) each year, positioning it as a significant reservoir of IT talent globally.
More than a million Vietnamese are employed in this sector, showcasing the nation's increasing impact in the industry.
Acknowledging that innovation stems from individuals, FPT is eager to develop future tech talent.
To tackle its IT talent deficit, FPT established FPT University, which specializes in training in high-demand fields such as AI, semiconductors, and automotive. Its alumni – over 170,000 thus far – play a crucial role in strengthening Vietnam’s labor force and establishing the nation as a center for digital innovation.
FPT’s dedication to nurturing future talent reaches beyond Vietnam with programs such as the FPT Global Internship, currently in its second iteration.
The program welcomes chosen international university students studying IT or similar disciplines to the company’s locations in Hanoi and Da Nang City, where they address actual challenges in areas such as AI, cloud, data, and cybersecurity, gaining mentorship and networking opportunities with FPT’s technical professionals.
By developing a proficient workforce and utilizing cutting-edge technologies, FPT is aiding companies globally in improving their adaptability and speeding up digital transformation.
