PM Pham Minh Chinh receives President of US Semiconductor Industry Association

PM Pham Minh Chinh receives President of US Semiconductor Industry Association John Neuffer. (Photo: VNA)

Prime Minister Chinh told them that in the recently-established comprehensive strategic partnership, Vietnam and the US have agreed to make science-technology and innovation a new important pillar in their relationship. Therefore, it is necessary to mobilise resources and brainpower and prioritise 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 will open up numerous opportunities for businesses of both nations to tap their respective advantages and bring economic benefits to them, helping to realise the bilateral comprehensive strategic partnership.

Vietnam is building a human resources development strategy and project along with suitable incentives to attract leading foreign semiconductor manufacturers, designers and developers to the country, the government leader stressed.

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 specialising in semiconductor chip design.

Vietnam sends nearly 30,000 students to the US each year, leading Southeast Asian countries and ranking in the top 5 countries with the highest number of international students in the US. About 2.2 million overseas Vietnamese are also living in the US, he said.

He proposed SIA push forward the US's early recognition of Vietnam'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.

The Prime Minister also called for collaboration in building and fine-tuning mechanisms and policies to sustainably develop the semiconductor industry.

The Ministry of Planning and Investment was assigned to work with relevant ministries to continue with specific joint tasks with SIA.

Neuffer, for his part, spoke highly of Vietnam's significant and impressive progress in the semiconductor industry, making it a crucial destination and a key player in the semiconductor supply chain.

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, he said.

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.

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