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Vietnam-US Partnership Boosts Semiconductor Industry

The upgrade of the Vietnam-US bilateral relations to a Comprehensive Strategic Partnership has created opportunities for Vietnam to attract more high-quality investments in the fields of innovation and advanced technology.

Prime Minister Pham Minh Chinh recently attended a meeting with chief executive officers of leading United States enterprises in the semiconductor industry in Washington DC. According to a report, American business representatives spoke highly of Vietnam’s semiconductor industry’s potential, noting the presence of high-quality human resources and the continuously advancing capabilities of local enterprises and training establishments in the country.

Image credit: VNA

They believed that the possibility for cooperation between the two countries in the semiconductor industry is substantial and holds great significance for the development of bilateral relations in the new era. During the meeting, participants explored investment prospects in Vietnam and put forth collaborative strategies to nurture a semiconductor ecosystem. They suggested that in the long run, American companies could consider establishing chip factories in Vietnam.

The Prime Minister urged the United States semiconductor enterprises to increase their investment in Vietnam across all stages of the semiconductor industry, including infrastructure development, technology transfer, design, production, distribution, and manpower training. The collaboration should involve businesses, research institutions, and training establishments from both countries.

This approach will pave the way for enhancing the quality of human resources and the capabilities of Vietnamese companies, enabling the country to further engage in the value and supply chains of the global semiconductor industry.

Developing Vietnam’s semiconductor industry aligns with the current global trend and harnesses the potential and resources available in the country. Moreover, it brings about tangible benefits for people, therefore, the Minister noted that Vietnamese citizens will actively participate and contribute to the process.

He claimed that the government and relevant ministries and sectors are committed to creating an equal and healthy business environment. They will offer optimal conditions for foreign enterprises, including United States semiconductor companies, to operate in Vietnam stably, effectively, and sustainably.

At the event, three significant memoranda of understanding (MoUs) were signed by Vietnam’s National Innovation Centre (NIC) under the Ministry of Planning and Investment (MoPI) with American partners. The agreements aim to bolster design capabilities, advance product development, and enhance the training of human resources dedicated to the semiconductor industry.

One of these MoUs signed with an electronic design automation company, is geared towards providing support for the establishment of a chip design incubation centre. The second agreement was formulated to foster the growth of Vietnam’s semiconductor and electronics sector. Within this partnership, NIC will offer Vietnamese universities, training centres, and startups the necessary technology and training programmes to design and develop semiconductor products.

Under the third agreement, NIC will work with an American university to engage with Vietnamese research institutes and educational organisations to develop training programmes and share research in the domains of semiconductors and related fields. Additionally, they will actively seek and leverage appropriate sources of funding to enhance the capacity of the workforce in the semiconductor industry.

Founded in 2019, NIC supports and develops Vietnam’s startup and innovation ecosystem. Its mission is to modernise the country’s economic growth model by harnessing the power of science and technology. In October, NIC will inaugurate its new research centre located in the Hoa Lac High-Tech Park in Hanoi. This facility will include a chip design incubation centre equipped with cutting-edge technologies from key partners of NIC.

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