Tech giant FPT launches first microchips

The chips, which were designed in Vietnam and manufactured in South Korea in August, will be used in Internet of Things medical devices, FPT said in a statement.

It eyes to produce 25 million chips and sell them globally by 2025 to buyers of different sectors including telecommunications, automotive technology and energy.

FPT first established a semiconductor factory in 1979 when it supplied “a large number” of semiconductor devices to the Eastern European market, CEO of FPT Semiconductor Nguyen Vinh Quang said.

“The establishment of FPT Semiconductor is a step forward following the ambitions and dreams of many generations of Vietnamese,” he noted, adding that the company eyes to sell its chips in Japan, South Korea, Taiwan, the U.S., Europe, and China.

Vietnam in recent years has emerged as a production base for many global chip manufacturers like Samsung, Amkor Technology, Intel and Renesas.

The country’s semiconductor industry is estimated to exceed $6.16 billion by 2024, according to a report by market researcher Technavio.

The production of semiconductors in Vietnam signals that foreign companies are supporting the country’s manufacturing sector and driving an increase in the complexity of products made here, investment firm VinaCapital’s chief economist, Michael Kokalari, said.