Vietnam increasingly important to US semiconductor industry: exec

Vietnam is becoming increasingly important to the U.S. semiconductor industry and plays a crucial role in the strategy of the U.S. Semiconductor Industry Association's (SIA) member companies, says the association’s chairman John Neuffer.

Meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Tuesday, Neuffer expressed his pleasure to witness Vietnam's strong development and the increasingly positive Vietnam-U.S. relationship. He noted that Vietnam is an important and attractive destination for investors.

Neuffer praised Vietnam's initiatives and efforts in semiconductor industry development, particularly the government's strategy for the sector and its program to train at least 50,000 semiconductor engineers by 2030.

Vietnam has made significant progress in this area, especially in diversifying and strengthening its supply chains, he noted.

Highlighting some of Vietnam's advantages such as a hardworking workforce and sufficient infrastructure, he emphasized the SIA and U.S. companies will continue to support Vietnam in developing its semiconductor industry and building a robust supply chain.

The SIA's corporate members account for 99% of the U.S.'s semiconductor industry revenue. Two thirds of its members are foreign semiconductor companies.

John Neffeur had two working visits to Vietnam in January 2023 and October 2023. This time, the SIA has led a delegation of leading semiconductor businesses, including Intel, Ampere, Marvell, Cirrus Logic, Infineon, and Skyworks, to visit Vietnam from December 10-11.

For his part, Prime Minister Chinh commended Neuffer and the SIA for their efforts in connecting major member companies - including Nvdia, AMD, Cadence, Marvell, ARM, Qorvo, and LAM Research - with business opportunities in Vietnam.

He noted that innovation, particularly in the semiconductor sector, has become a key pillar of the Vietnam-U.S. Comprehensive Strategic Partnership. The Prime Minister also stressed that Vietnam’s socio-economic development strategy focuses on science, technology, innovation, and digital transformation.

He emphasized Vietnam offers strong incentives for investors in science, technology, and semiconductor industries, stressing the importance of "harmonizing interests and sharing risks" between the government, businesses, and citizens.

"Together, we listen and understand, share visions and actions, and work together to achieve mutual success and prosperity," Chinh said.

The prime minister encouraged the SIA to promote greater U.S. investment in Vietnam’s semiconductor, artificial intelligence, and cloud computing sectors. He called for greater efforts to integrate Vietnamese firms into global supply chains, invest in infrastructure, and establish training facilities and R&D centers in the semiconductor field.

Chinh added that Vietnam will introduce policies to support big investors in the areas of innovation and semiconductors.

Vietnam's Minister of Information and Communications, Nguyen Manh Hung, suggested that the SIA encourage its members to support Vietnam in becoming a global hub for semiconductor talent.