Vietnam signs semiconductor memorandums with US companies

By Hoang Thuy   September 20, 2023 | 06:21 am PT
Vietnam signs semiconductor memorandums with US companies
Vietnam Prime Minister Pham Minh Chinh (back, center) witnesses the signing of memorandums between Vietnamese government bodies and U.S. companies in Washington, U.S on Sep. 19, 2023. Photo by Nhat Bac
Vietnamese government bodies have signed three memorandums with U.S. businesses to help increase their ability to design and produce semiconductors, and train people in the industry.

The deals were signed in Washington D.C. on Tuesday in the presence of Prime Minister Pham Minh Chinh, U.S. Ambassador to Vietnam Marc Knapper, and President and CEO of the Semiconductor Industry Association John Neuffer.

The Ministry of Planning and Investment’s National Innovation Center signed a memorandum with Cadence Design Systems on the design and production of semiconductors.

The center also signed a memorandum with Arizona State University to develop human resources for the semiconductor industry.

The Ministry of Education and Training signed a memorandum with Intel to develop human resources for hi-tech sectors.

Investment minister Nguyen Chi Dung said that the signings will help boost cooperation between U.S. companies in the semiconductor industry and Vietnamese partners.

The U.S. is a leading country in the sector, and Vietnam is a land of potential with an ideal geographical location, and a stable political system, he added.

The country aims to train 50,000 engineers in the semiconductor industry by 2030, and the government has a strong interest in developing this industry, he added.

Vietnam has also established research units in the semiconductor sector, and large companies in the country have the resources and willingness to develop the industry, Dung said.

PM Chinh said that Vietnam and the U.S., in their agreement to establish a Comprehensive Strategic Partnership, have prioritized technology and innovation as new pillars in their relations.

He urged U.S. companies to invest more in Vietnam, including in infrastructure, technology transfer, manufacturing and training.

Vietnam’s government bodies will create a fair business environment for U.S. companies, he said.

PM Chinh is on a six-day working trip in the U.S. After visiting San Francisco and Washington, he will go to New York to join the high-level General Debate of the 78th United Nations General Assembly.

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