US businesses want to open semiconductor chip factories in Vietnam

Cadence Design Systems and Intel, two large US corporations, and Arizona State University, pledged to help Vietnam increase its semiconductor chip design capacity and train human resources for the high-tech industry.

Prime Minister Pham Minh Chinh has lunch and works with American semiconductor enterprises - Photo: NHAT BAC

On September 19 (local time, morning of September 20 Vietnam time), Prime Minister Pham Minh Chinh had lunch and worked with CEOs of leading US enterprises and corporations in the semiconductor field.

Also attending were members of the high-ranking Vietnamese delegation, US Ambassador to Vietnam Marc Knapper and Mr. John Neuffer, President and CEO of the Semiconductor Industry Association (SIA).

3 Memorandums for Vietnam's Semiconductor Industry

At the meeting, US semiconductor businesses highly appreciated the potential for developing the semiconductor industry in Vietnam and said they were studying the possibility of locating chip manufacturing plants in Vietnam.

Listening to the opinions, Prime Minister Pham Minh Chinh highly appreciated the presence of businesses, showing the interest and support of US businesses for Vietnam.

The Prime Minister suggested that US semiconductor businesses continue to cooperate and invest more extensively in all stages from infrastructure investment to technology transfer, design, production and human resource training.

Regarding the opinions and proposals of businesses related to taxes, administrative procedures, land, and human resource training, he said the Government and ministries will create an equal and healthy business environment for all businesses, including the US.

On this occasion, Prime Minister Pham Minh Chinh witnessed the signing ceremony of a memorandum of understanding between the National Innovation Center (NIC under the Ministry of Planning and Investment) and Cadence Design Systems Corporation on promoting the capacity to design and develop semiconductor chip products in Vietnam.

NIC also signed a memorandum of understanding with Arizona State University on developing human resources for the semiconductor industry in Vietnam. The Vietnamese Ministry of Education and Training signed a memorandum of understanding with Intel Corporation on developing human resources for high-tech industries.

Prime Minister Pham Minh Chinh witnessed the memorandum handover ceremony - Photo: NHAT BAC

A step forward for Vietnam to rise in the semiconductor industry

"This is a further step to implement cooperation activities between organizations and businesses in the US semiconductor industry with Vietnamese partners to bring opportunities to expand the market and enhance Vietnam's capacity in this industry," Minister of Planning and Investment Nguyen Chi Dung commented on the three memorandums of understanding between the two sides.

According to Mr. Dung, the US is a leading country in the semiconductor industry with many outstanding technological achievements, Vietnam has a lot of potential and opportunities to develop the semiconductor industry ecosystem.

He affirmed that Vietnam has enough capacity to develop the semiconductor industry, with a stable political system and favorable geographical location.

Prime Minister Pham Minh Chinh and Vietnamese ministers take a photo with American semiconductor companies - Photo: NHAT BAC

According to Mr. Dung, Vietnam has been building a large enough electronics industry domestically as well as attracting more and more large electronics manufacturing units. This is a direct market for the semiconductor industry.

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