PM calls on US semiconductor firms to invest more in Vietnam

The meeting between PM Pham Minh Chinh and CEOs of US semiconductor firms in Washington DC on September 19 (Photo: VNA)

The US businesspeople spoke highly of the potential of the semiconductor industry in Vietnam, which boasts high-quality human resources and increasingly improved capacity of local enterprises and training establishments.

They held that the two countries’ cooperation potential in this industry is substantial and highly meaningful for bilateral relations in the new period.

Participants discussed investment opportunities in Vietnam and proposed cooperation measures for developing a semiconductor ecosystem in the country, with the US being a strategic partner of leading importance. In the long term, they said, US firms can consider the possibility of building chip factories in Vietnam.

PM Chinh said that aside from existing cooperation focuses, in the recent statement on establishing the countries’ comprehensive strategic partnership, Vietnam and the US agreed to turn science - technology and innovation into a new pillar of bilateral ties.

He asked the two countries’ enterprises to coordinate actively with each other and prioritise some focal fields of Vietnam, including the semiconductor industry.

PM Pham Minh Chinh and officials witness the exchange of MoUs on cooperation in the semiconductor industry between Vietnam and the US on September 19 - Photo: VNA

Applauding the semiconductor companies that have invested and operated in Vietnam – a contribution to the elevation of bilateral relations, the Vietnamese government leader called on US semiconductor enterprises to continue investing more in the country in all steps, from infrastructure building, technology transfer, design, production, distribution, and manpower training with the participation of both countries’ businesses, research institutions, and training establishments.

That will create conditions for improving human resources quality and Vietnamese firms’ capacity, and gradually helping the country further engage in value and supply chains of the global semiconductor industry, he went on.

Developing the semiconductor industry matches the current global trend as well as the potential and resources of Vietnam while generating benefits for people, so Vietnamese people will take an active and effective part in this process, he added.

PM Chinh went on to say that the Vietnamese Government, ministries, and sectors will create an equal and healthy business environment and provide the best possible conditions for foreign enterprises, including semiconductor companies of the US, to operate stably, effectively, and sustainably in the country. He emphasised the spirit of harmonised interests, risk sharing, and mutual benefits to contribute to the countries’ relations.

On this occasion, the PM witnessed the exchange of a memorandum of understanding (MoU) on the implementation of activities to boost the semiconductor chip designing and developing capacity in Vietnam between the Vietnam National Innovation Centre (NIC) under the Ministry of Planning and Investment and the Cadence Design Systems, Inc.; an MoU on developing human resources for the semiconductor industry in Vietnam between the NIC and Arizona State University; and another on developing human resources for hi-tech industries between the Vietnamese Ministry of Education and Training and Intel.