Vietnam ramps up push for more US investment in AI, semiconductors
Vietnam ramps up push for more US investment in AI, semiconductors
Vietnamese Prime Minister Pham Minh Chinh welcomed a delegation from the U.S. Semiconductor Industry Association (SIA) in Hanoi on Tuesday, suggesting that investment in semiconductors, artificial intelligence (AI), and cloud computing would align with Vietnam's vision for the future.
Vietnamese Prime Minister Pham Minh Chinh (L) welcomes U.S. Semiconductor Industry Association (SIA) president John Neuffer in Hanoi, December 10, 2024. Photo: Vietnam Government Portal |
The delegation, led by SIA President John Neuffer, included leaders from Intel, Ampere, Marvell, Cirrus Logic, Infineon, and Skyworks, who are on a visit to explore investment opportunities in Vietnam.
Welcoming the delegation, PM Chinh praised Neuffer and the SIA for their role in connecting its member companies, including NVIDIA, AMD, Cadence, Marvell, ARM, Qorvo, and LAM Research, with opportunities to do business in Vietnam in the past years.
PM Chinh affirmed that creative innovation, particularly in the semiconductor industry, is a new and crucial pillar of the Vietnam-U.S. comprehensive strategic partnership, and that Vietnam is making a breakthrough in science, technology, creative innovation, and digital transformation.
He urged the SIA to encourage its members to expand investments in Vietnam, focusing on sectors where U.S. strengths align with Vietnam's needs, particularly semiconductors, AI, and cloud computing.
The prime minister also called on SIA members to set up training facilities and research and development centers in these areas within Vietnam and to support local firms in integrating into global supply chains.
He also suggested that the SIA, which accounts for 99 percent of the revenue of the U.S. semiconductor industry, prompt the U.S. government to lift restrictions on high-tech product exports to Vietnam and recognize it as a market economy.
SIA president Neuffer, who visited Vietnam twice in 2023, praised the country’s rapid development and the strengthening ties between Vietnam and the United States.
He emphasized that Vietnam has become an important and attractive destination for investors.
Neuffer expressed admiration for Vietnam’s ambitious initiatives in the semiconductor industry, including its program to train 50,000 semiconductor engineers by 2030.
Acknowledging Vietnam's significant progress, particularly in diversifying and enhancing its supply chain, Neuffer highlighted the country’s key advantages.
These include a globally recognized, diligent workforce, steadily improving infrastructure, and a roster of enterprises with strong international collaboration capabilities, such as Viettel, a leading telecom provider.
Neuffer stated that SIA members and American enterprises in general are interested in the U.S. Vietnam relations and will continue to support Vietnam in developing the semiconductor industry and building a strong supply chain.
Vietnam has become increasingly important to the U.S. semiconductor industry as well as to the business strategies of many SIA members, Neuffer said, affirming that he will return to Vietnam many more times to promote bilateral cooperation.
Neuffer, along with several other delegation members, shared their intentions to expand cooperation and explore future investment opportunities in Vietnam during the meeting.
