Vietnam, US enhance cooperation in development of semiconductor and AI industries

(MPI) - The Vietnamese Ministry of Planning and Investment, in collaboration with relevant agencies organised a seminar on enhancing Vietnam-US cooperation in the development of the semiconductor and artificial intelligence (AI) industries in New York on September 22 (local time). The event saw the participation of Party General Secretary and State President To Lam, as part of his US working trip for the high-level week of the 79th session of the UN General Assembly.

Minister of Planning and Investment Nguyen Chi Dung speaks at the seminar. Photo: TTXVN

Minister of Planning and Investment Nguyen Chi Dung highlighted the importance of this meeting, marking a positive development in cooperation between Vietnam and the US in the fields of innovation, hi-tech, semiconductors and AI.

He said that the Vietnam-US relations have been continuously and comprehensively developing in all areas, especially since the recent upgrade of its relations to the comprehensive strategic partnership. The US currently is Vietnam's second largest trading partner, and ranks 11th out of 145 countries and territories investing the the nation.

The two countries have implemented many cooperative activities as agreed at a memorandum of understanding (MoU) on cooperation to bolster the semiconductor industry. Vietnam boats necessary conditions to cooperate and receives US investment in the fields of semiconductors and AI, he noted.

Vietnam has political stability and high determination to develop semiconductor and hi-tech industries as it is entering the golden population period and accessing to science-technology, and science, technology, engineering, and mathematics (STEM); prioritising to attract selective industries in order to catch up, move forward and surpass developed countries.

Vietnam promulgated a strategy on AI development in 2021, and the Prime Minister on September 9, 2024 has issued the national strategy for developing Vietnam's semiconductor industry and a programme on developing human resources for the semiconductor industry, the minister said, adding that the country will step up in training high-quality workforce for the sectors, with the aim of training 50,00 engineers by 2030.

The minister said Vietnam also established an innovation ecosystem that draw the participation of numerous US hi-tech enterprises, at the same time gradually improved the legal framework to create the most favorable business and investment environment for investors in the fields of semiconductor and AI industries. The Vietnamese Government will soon issue a decree on investment support fund this year to assist investors in the industries.

Minister Dung held that the seminar is Vietnam's commitment to improving and creating the most optimal investment climate for investors in hi-tech and innovation sectors, including AI and semiconductors. He expressed his belief that the close coordination among the two countries' businesses will open up opportunities for Vietnam and the US to develop together with mutual benefits.

Party General Secretary and State President To Lam adresses the seminar. Photo: TTXVN

At the seminar, representatives of leading US tech firms shared their experiences and pointed out potential and cooperation opportunities with Vietnam in semiconductors and AI industries, helping the Southeast nation to make use of this opportunities to join in the global semiconductor value chain.

Speaking at the seminar, Party General Secretary and State President To Lam stressed Vietnam's viewpoints and policies are to rapidly and sustainably developing based on science, technology and innovation. The country identifies three strategic breakthroughs for socio-economic development in the time ahead, namely institutions, infrastructure and human resources align with restructuring the economy and renewing the growth model, and promoting the national development based on science, technology, innovation and Vietnamese people' cultural values.

The leader praised the positive results yielded in the Vietnam-US cooperative relationship, adding that the cooperation potential between the two sides in hi-tech fields like semiconductors and AI is enormous and meaningful in the new area, especially since the two countries upgraded the ties to comprehensive strategic partnership with two breakthrough cooperation pillars, innovation and semiconductors.

He expressed his belief that collaboration in semiconductor and AI industries will open more chances for both countries to further develop and fully exploit each other's advantages.

Party General Secretary and State President To Lam affirmed Vietnam always respects international cooperation and understands that it is important to go together and build a solid value chain so that the country will succeed and move forward in hi-tech sectors. Vietnam also welcomes US businesses and organisations to jointly develop creative and sustainable solutions with the country./.

Bao Linh

Ministry of Planning and Investment

Public link

Please use the above public link if you want to share this noodl on another website.