Deputy Prime Minister Lê Minh Khái on Thursday called on the Semiconductor Industry Association (SIA) of the US to encourage its member enterprises to increase investment in Việt Nam.
HÀ NỘI — Deputy Prime Minister Lê Minh Khái on Thursday called on the Semiconductor Industry Association (SIA) of the US to encourage its member enterprises to increase investment in Việt Nam.
Receiving SIA President and CEO John Neuffer in Hà Nội, the Deputy PM welcomed SIA’s selection of Việt Nam as one of the destinations to survey in its fact-finding tour of Southeast Asia. He considered this a starting point for cooperation between SIA and the Vietnamese Government, thereby promoting the possibility of Việt Nam’s engagement in global semiconductor supply chains.
The Vietnamese Government has issued many support policies for investment in and development of hi-tech products, with the semiconductor industry given the top priority, he noted, stressing that strongly developing science, technology, innovation, and digital transformation was identified as a key driver of economic growth during the 2021-30 period.
Việt Nam prioritises hi-tech and innovation projects with spillover effects in which investors pledge to facilitate Vietnamese firms’ participation in production chains, cooperate in human resources training and research and development (R&D), and help boost digital economy and socio-economic development, Khái said.
He added Việt Nam boasts potential for developing the semiconductor industry thanks to high-quality human resources and a large electronics manufacturing sector with many major businesses like Intel, Samsung, Foxconn, Amkor, and LG. The National Innovation Centre was also established to support innovation, R&D, and the building of an innovation ecosystem that focuses on enterprises.
For his part, Neuffer said the US’ semiconductor industry is working to re-balance the global semiconductor production chain.
He stressed the importance of Việt Nam to the US’ production chains, expressing his hope that Việt Nam will play an increasingly important role in the US’ global semiconductor chain.
As other countries are advancing fast and semiconductor businesses of the US are seeking investment chances, Neuffer said he hoped to cooperate with the Vietnamese Government and help the Southeast Asian nation not miss this important opportunity.
Khái asked SIA to introduce Việt Nam’s investment climate to US firms to encourage them to open R&D and sci-tech centres in the Southeast Asian country, and transfer technologies to help Việt Nam develop businesses capable of designing and producing semiconductor products.
He also suggested SIA introduce experts and organisations to hold on-site training courses, and present scholarships to train human resources for the semiconductor industry in Việt Nam. — VNS