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Tech Industry Leaders Meet in Hanoi for Key Strategic Talks During President Biden's Visit to Vietnam

Tech Industry Leaders Meet in Hanoi for Key Strategic Talks During President Biden's Visit to Vietnam - Created date18/10/2023

The vibrant landscape of Vietnam is poised to host a crucial business meeting, drawing top-tier U.S. semiconductor and digital companies, such as Intel, GlobalFoundries, and Google. This exclusive gathering aligns with President Joe Biden's visit, underscoring a concerted effort to strengthen bilateral ties.

Sources familiar with the plan reveal that senior executives from key players like Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing are anticipated attendees. While responses from these companies are pending, the meeting aims to solidify U.S. intentions to amplify Vietnam's influence in diverse facets of chipmaking.

On September 10, 2023, US President Joe Biden attended a meeting with the General Secretary of the Vietnamese Communist Party at the Communist Party of Vietnam Headquarters in Hanoi. Photo by Reuters.

Semiconductors will take center stage during Biden's visit to Hanoi, marking a pivotal moment as the White House endeavors to formally enhance relations with Vietnam. The roundtable, involving approximately 30 top executives and officials, remains unannounced, leaving uncertainty about potential announcements.

Several companies on the list have already made investments in Vietnam, highlighting the nation's appeal. Intel's $1.5 billion chip assembly and testing facility in southern Vietnam, the largest in its global network, stands as a testament to this. Amkor is also contributing to Vietnam's tech landscape with a cutting-edge mega factory near Hanoi. Meanwhile, Marvell has expressed plans to establish a world-class center in the country.

U.S. officials emphasize that assembling and designing are segments where Vietnam is likely to experience accelerated growth in the chipmaking industry. However, concerns about a shortage of engineers may temper the industry's trajectory. Vietnam's ambition to establish its chipmaking factories, or fabs, also comes to the fore, with GlobalFoundries specializing in integrated circuits for smartphones, cars, and various applications.

Collaboration on artificial intelligence (AI) is another dimension of the evolving ties between the U.S. and Vietnam. The Vietnamese government has engaged in discussions with major chip companies, seeking advice on setting up the country's first fab. This aligns with U.S. officials' belief that an upgraded relationship with Vietnam could foster collaboration in the AI sector, where Google is a major global player.

Source: Reuters