HCM City Welcomes Semiconductor Businesses

Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan ( right) and President and CEO of the US Semiconductor Industry Association (SIA) John Neuffer. Photo: VNA

Hoan said that together with available advantages, the city has made efforts to be well prepared in land funds, policies and mechanisms, human resources, and investor trust building, VietnamPlus said.

He said that the city is aiming for green growth criteria, applying digital technology and promoting in-depth investment in semiconductor chips and artificial intelligence that serve high-technology industries. The city also targets investors in semiconductor chips, artificial intelligence, and chain-forming production.

Hoan suggested that US businesses form a US technology park in Ho Chi Minh City to facilitate infrastructure development and administration.

Currently, Vietnam has around 6,000 engineers working in the semiconductor industry for both domestic and foreign enterprises. Photo: cafef.vn

The city has a sufficient land fund for businesses to form the park, Hoan said, adding that the local authorities always listen to businesses to make proper policy adjustments and create favorable conditions for them to invest in the locality.

For his part, John Neuffer said that US semiconductor industry enterprises are currently operating strongly in the southern region of Vietnam. Under the impact of the Covid-19 pandemic as well as the general world context, they have to rebalance their supply chains.

The supply chain of the semiconductor industry is not only developed domestically but must be linked with other countries, including Vietnam, he said, adding that mechanisms to attract and encourage investment, and human resources are important factors for US businesses to consider and choose to invest in.

According to Neuffer, on the map of the world semiconductor industry, Vietnam is currently in the stages of testing – packaging, and back-end design (designing codes and programs to operate applications or websites). In the coming time, Vietnam can promote the development of other stages in the semiconductor chip supply chain such as designing.

Amid the bilateral cooperative relationship, John Neuffer believes that cooperation in the semiconductor industry between the US and Vietnam in general, and Ho Chi Minh City in particular, will be promoted in the coming time.

The same day, the US business delegation visited the Saigon Hi-Tech Park to learn about hi-tech development infrastructure.

Founded in 1977, the SIA gathers a network of member companies accounting for up to 99% of the semiconductor industry's revenue in the U.S., with two-thirds from foreign enterprises. It has played a proactive role in prompting the U.S. to foster cooperation efforts in developing Vietnam's semiconductor ecosystem.

At a meeting with Prime Minister Pham Minh Chinh earlier, Neuffer affirmed that Vietnam 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, according to Nhan dan (People) Newspaper.

Prime Minister Pham Minh Chinh (R) and SIA President John Neuffer. Photo: VNA

Informing the host about the results of his working sessions with relevant Vietnamese agencies, he said US enterprises are eagerly waiting for Vietnam's national semiconductor strategy. He believed that Vietnam will play an even more crucial role in the global supply chain, quickly seizing emerging opportunities in this field, especially in chip design, which does not require as much investment as manufacturing.

The US businesses are ready to strengthen relations, boost investment, and cooperate with Vietnam in the semiconductor industry, especially in training talents and high-quality workforce, contributing to promoting mutually beneficial relations between the two countries, he added.

PM Chinh said in the recently established comprehensive strategic partnership, Vietnam and the US have agreed to make technology and innovation a new important pillar in their relationship. Therefore, it is necessary to mobilize resources and brainpower and prioritize certain focal areas for Vietnam, particularly the semiconductor industry in which Vietnam has considerable potential and advantages.

He believed that cooperation in the semiconductor industry would open up numerous opportunities for businesses of both nations to tap their respective advantages and bring economic benefits to them, helping to realize the bilateral comprehensive strategic partnership.

Currently, Vietnam has around 6,000 engineers working in the semiconductor industry for both domestic and foreign enterprises, he said, adding the country aims to train 50,000 highly-skilled engineers between now and 2030, with a particular focus on those specializing in semiconductor chip design.

Vietnam, US Promote "Blood Drive" Campaign for World Blood Donor Day The US Embassy in Vietnam and the National Institute of Hematology and Blood Transfusion co-hosted the 9th Annual Blood Drive on June 13 in Hanoi, ...

Vietnam, US Hold the 161st Repatriation Ceremony As one of the long-term pillars of the bilateral relationship between the US and Vietnam, the cooperation in the search for remains of American soldiers ...

Vietnam News Today (Aug. 5): Vietnam, US Boost Economic, Trade Relations Vietnam News Today (Aug. 5): Vietnam, US boost economic, trade relations; Vietnam is partner of strategic importance to Indonesia in Southeast Asia; Vietnamese, Cuban people ...