Viet Nam is most attractive destination for U.S. semiconductor investors

Prime Minister Pham Minh Chinh hosted a reception for Mr. John Neuffer who lead a delegation of leaders of major U.S. semiconductor companies including Intel, Qualcom, Ampere and ARM on a working visit to Viet Nam, in Ha Noi on December 7.

The host leader emphasized that Viet Nam and the U.S. agreed to make science-technology and innovation a new important pillar in the Joint Leaders’ Statement on elevating Viet Nam-U.S. ties to comprehensive strategic partnership issued on the occasion of President Joe Biden's visit to Viet Nam last September.

Prime Minister Pham was convinced that the bilateral cooperation in the semiconductor industry will open up numerous opportunities for businesses of both nations to optimize their respective advantages and bring economic benefits to them, helping to realize the bilateral comprehensive strategic partnership.

Viet Nam is home to about 6,000 semiconductor engineers who are working for domestic and foreign companies. 

The country targets to train 50,000 highly-skilled engineers between now and 2030, with a particular focus on those specializing in semiconductor chip design.

On the other hand, Viet Nam sends nearly 30,000 students to the U.S. each year, becoming the US's top source of international students in ASEAN and the fifth globally, said Pham, adding that about 2.2 million overseas Vietnamese are also living in the U.S.

He proposed SIA push forward the US's early recognition of Viet Nam's market economy status and eliminate unnecessary controls in technology transfer. He urged for enhanced cooperation in technology transfer, research, production, workforce training, building of laboratories, and support for Vietnamese firms to join the US’s global semiconductor supply chain.

He assigned the Ministry of Planning and Investment to work with relevant ministries to implement specific projects with SIA.

In reply, Neuffer praised Viet Nam's significant and impressive progress in the semiconductor industry, making it a crucial destination and a key player in the semiconductor supply chain.

Viet Nam is the most attractive destination for US investors in the semiconductor industry and could play the role as a strategic partner in the supply of workforce, he said.

Neuffer expressed his belief that Viet Nam will play an even more crucial role in the global supply chain, quickly grabbing emerging opportunities in this field, especially in chip design./.