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US firms see Vietnam’s great potential for semiconductor industry

US firms see Vietnam’s great potential for semiconductor industry

Wednesday, September 20, 2023, 21:53 GMT+7
US firms see Vietnam’s great potential for semiconductor industry
Vietnamese Prime Minister Pham Minh Chinh (left side) has a working lunch with the CEOs of U.S. semiconductor firms. Photo: Nhat Bac / Tuoi Tre

Many American semiconductor firms have highly valued the huge potential for the semiconductor industry in Vietnam, expressing their hope of opening chip production facilities in the country.

The leaders of these companies were speaking during a meeting with Vietnamese Prime Minister Pham Minh Chinh on Wednesday morning (Vietnam time).

Prime Minister Chinh and a high-ranking delegation of Vietnam on Tuesday morning (local time) landed in Washington, D.C., the second leg of their business trip to the United States.

During the meeting, the prime minister called on U.S. semiconductor enterprises to continue their cooperation with Vietnamese partners and beef up their investment in infrastructure, technology transfer, semiconductor design and production, and human resource training. 

PM Chinh affirmed that the Vietnamese government and ministries are building a fair and healthy business climate for all enterprises, including those from the U.S..

Vietnamese Prime Minister Pham Minh Chinh (C, 2nd row) witnesses a ceremony of exchanging signed cooperation agreements between the Vietnamese side and a U.S. firm. Photo: Nhat Bac / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh (C, 2nd row) witnesses a ceremony for exchanging signed cooperation agreements between the Vietnamese side and a U.S. firm. Photo: Nhat Bac / Tuoi Tre

Cadence Design Systems, an American computational software multinational, Intel, and Arizona State University pledged to help Vietnam strengthen its workforce in technology and ramp up the capacity of chip design.

The prime minister witnessed the signing of a memorandum of understanding between the Vietnam National Innovation Center, under the Vietnamese Ministry of Planning and Investment, and Cadence Design Systems to design and produce chips in Vietnam.

The center also signed a memorandum of understanding with Arizona State University to develop a workforce for the semiconductor industry in Vietnam.

The Ministry of Education and Training clinched a deal with Intel to form a strong workforce in hi-tech industries.

Vietnamese Prime Minister Pham Minh Chinh (C) and some representatives of U.S. firms pose for a photo. Photo: Nhat Bac / Tuoi Tre

Vietnamese Prime Minister Pham Minh Chinh (C) pose for a photo with some representatives of U.S. firms. Photo: Nhat Bac / Tuoi Tre

The signing acts as a stepping stone to deeper partnership in the semiconductor industry between Vietnam and U.S. organizations, said Minister of Planning and Investment Nguyen Chi Dung.

The United States is one of the world’s leading semiconductor manufacturers, so the cooperation will open a wider door for Vietnam to develop a semiconductor industry ecosystem, he added.

Minister Dung also affirmed that Vietnam is capable of advancing the semiconductor industry.

Synopsys, an American electronic design automation company, and Nvidia, a U.S. multinational technology company, were committed to helping Vietnam foster its semiconductor industry development during Chinh’s visit to Silicon Valley, where the two firms are headquartered, in San Francisco, California on Monday afternoon (local time).

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Tieu Bac – Duy Linh / Tuoi Tre News

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