Vietnam gov’t agencies, US semiconductor firms sign cooperation deals

Three cooperation deals were signed between Vietnamese government agencies and U.S. semiconductor businesses in Washington, D.C. on Tuesday (local time), as Prime Minister Pham Minh Chinh is on a week-long visit to the U.S.

The National Innovation Center (NIC), under the Ministry of Planning and Investment, signed a memorandum of understanding with Cadence Design Systems, Inc. to boost semiconductor chip design and development in Vietnam.

The NIC also signed an MoU with Arizona State University to develop the semiconductor workforce in Vietnam, while the Ministry of Education and Training signed an MoU with Intel to enhance human resources for Vietnam’s high-tech sector.

Minister of Planning and Investment Nguyen Chi Dung lauded the cooperation, saying it would help Vietnam expand its market and capacity in the semiconductor industry.

"Vietnam’s advantages for growth in the sector are the country’s prime geographical location, political stability, high potential for development, and the Prime Minister’s focus on the sector, evidenced by the establishment of a plan to train at least 50,000 engineers until 2030," he said.

Meanwhile, the country has built a strong electronics industry and is attracting major semiconductor investors from around the world. Moreover, Vietnamese businesses, such as Viettel, FPT, CMC, VNPT; and universities, including Vietnam National University (VNU) Hanoi, VNU Ho Chi Minh City, and Hanoi University of Science and Technology, are ready and willing to develop the workforce for the sector, the minister noted.

Vietnam has already prepared infrastructure to welcome semiconductor investors, such as the NIC and three high-tech parks in Hanoi, HCMC, and the central coastal city of Danang, offering various preferential policies, he added.

In reply, U.S. semiconductor businesses highlighted the potential of the sector in Vietnam and emphasized that semiconductor cooperation would play a key role in the Vietnam-U.S. partnership. In the long-term, U.S. businesses will study the possibility of setting up chip factories in Vietnam.

Speaking at the event, Prime Minister Pham Minh Chinh called on U.S. semiconductor firms to invest more in Vietnam, especially in infrastructure, technology transfer, design, production, distribution, human resources training, and others. He also asked relevant agencies to facilitate the operations of foreign investors, in reply to businesses’ recommendations related to tax, administrative procedures, land, and others.