Vietnam's Prime Minister Discusses US Relations and Economic Ambitions



At the World Economic Forum in Davos, Vietnam's Prime Minister Pham Minh Chinh addressed the country's relationship with the United States and its ambitious economic goals.

US Relations

Chinh confirmed that Vietnam's Party General Secretary Nguyen Phu Trong had communicated with President Donald Trump and that the government had initiated outreach to the Trump administration. He expressed confidence in managing the relationship with the US.

Economic Targets

Vietnam aims to achieve 8% economic growth this year, despite uncertainty over potential tariffs. While the trade imbalance with the US remains a concern, Chinh stated that Vietnam is working to rebalance its surplus by purchasing Boeing planes and other American high-tech products.

Political Reforms

Vietnam is undergoing significant political reforms, including reducing government size, streamlining bureaucracy, and cutting red tape. The recent change in Communist Party leadership has also been acknowledged.

Artificial Intelligence and Technology

Chinh highlighted Vietnam's efforts to promote the development of artificial intelligence (AI) and establish a national database. The country is attracting foreign tech giants, including Intel, Apple suppliers, and Samsung, which plans to invest in a second R&D center in Hanoi.

Semiconductor Industry

Vietnam aims to generate $100 billion annually from the semiconductor industry by 2050. The government plans to establish three big data centers and three AI centers by 2030.

Prime Minister's Vision

Chinh emphasized the importance of education and investment in engineering and AI fields. He aims to develop 50,000-100,000 engineers in these areas. Vietnam seeks to become a global hub for advanced technology and a developed country with high income by 2045.