Mr. Ha said many FDI enterprises have invested in Vietnam’s digital economy and high tech sector and Vietnamese businesses are contributing 12-15% to Vietnam’s digital economy. Vietnamese universities have begun providing comprehensive IT, physics, and materials training.

These are favorable conditions for Vietnam to participate in the semiconductor industry, said Deputy Prime Minister Tran Hong Ha, adding that in the long term, training and retraining of engineers is needed, who already have the basic knowledge.

“One of Vietnam’s advantages is that it has a large overseas workforce, who have already participated or are competent to participate in semiconductor industry,” said Mr Ha, adding, “The Government will have universities build semiconductor centers and invest in modern, centralized laboratories for designing, testing, and manufacturing semiconductor chips.”

Answering questions on inflation control, Mr. Ha said, “The Government has directed ministries and sectors to implement comprehensive solutions to ensure production, supply, and distribution.”

Mr. Ha also answered deputies’ questions on fiscal policy, handling of gold price fluctuations, and policies to stimulate consumption and increase investment in the public sector and essential infrastructure to ensure production and economic development.