Former UK premier Blair pledges to drive chip, AI investments to Vietnam

Former UK Prime Minister Tony Blair has promised to help Vietnam attract investments into industries such as chip design and artificial intelligence (AI) applications.

Blair, who is executive chairman of the Tony Blair Institute for Global Change (TBI), made the promise at a meeting with Vietnam’s Deputy Prime Minister Le Minh Khai in Hanoi on Tuesday.

Impressed by Vietnam’s growth, Blair suggested some ideas to help Vietnam attract more investment and financial resources and develop the semiconductor industry and AI applications.

Regarding Vietnam’s project to develop an international financial center, the former UK prime minister suggested that Vietnam develop an advanced financial industry to meet the needs of sustainable development, and catch up with the trend of green transition and renewable energies.

Blair also advised Vietnam to renovate education and training to stay updated with the speedy development of new technology, particularly AI.

He then affirmed his willingness to accompany Vietnam in the fields of finance, energy, and technology.

For his part, Khai appreciated the cooperation between the TBI and Vietnamese ministries and agencies. He asked the TBI to continue sharing experiences and research, and advised Vietnam on building financial centers to mobilize resources to overcome the middle-income trap and become a developed country by 2045.

Khai also asked the TBI and Blair himself to continue aiding Vietnam in fulfilling its net-zero commitments made at the 26th United Nations Climate Change Conference (COP26), including attracting financial resources to achieve this goal.

After resigning the party leadership and as prime minister in 2007, Tony Blair has been invited by the Vietnamese government to visit Vietnam on multiple occasions, with the first visit made in October 2012.

During his previous visit to Vietnam in July 2023, the TBI and Vietnam’s Ministry of Planning and Investment signed a memorandum of understanding on helping Vietnam attract high-quality foreign investment and develop an international financial hub.