Prominent American semiconductor and digital industry leaders, including tech giants like Intel, GlobalFoundries, and Google, are poised to assemble for a substantial business conference in Hanoi during President Joe Biden's official visit to Vietnam. This high-profile gathering, which comes on the heels of President Biden's attendance at the G20 Summit in India, reportedly seeks to address and mitigate risks associated with China, encompassing matters such as trade restrictions and heightened tensions concerning Taiwan.
The conference is expected to include participation from senior executives representing a slew of influential companies, among them Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing. Approximately 30 top-level executives and officials will come together, although detailed announcements from the participating companies regarding the event remain undisclosed at this time.
A central focal point of President Biden's visit to Hanoi is set to be the semiconductor industry. The aim is to elevate and strengthen relations between the United States and Vietnam, particularly in the context of semiconductor technology. Several of the attending companies have already made significant investments in Vietnam, with Intel notably operating a substantial $1.5 billion chip assembly, packaging, and testing facility in southern Vietnam, with further expansion plans in the pipeline. Similarly, Amkor is actively in the process of constructing a cutting-edge semiconductor assembly and testing mega factory near Hanoi, a development that was announced by US Treasury Secretary Janet Yellen in July. Chip design firm Marvell, too, has expressed intentions to establish a world-class center dedicated to semiconductors within Vietnam.
Vietnam's strategy for growth in the realm of chip manufacturing primarily revolves around assembly and design, although it faces certain challenges, such as a shortage of skilled engineers. The country also aspires to develop its chip fabrication facilities, with GlobalFoundries specializing in integrated circuit production across various applications, including smartphones and automobiles.
Moreover, the Vietnamese government has initiated discussions with major players in the semiconductor industry, including Intel, Samsung, and Qualcomm, seeking their expertise and guidance in setting up the country's first semiconductor fabrication plant.
In addition to semiconductors, the upgraded diplomatic relationship with Vietnam holds the potential for collaboration in the field of artificial intelligence (AI). Google, renowned globally for its AI capabilities, could play a pivotal role in such endeavors. Notably, Vingroup, Vietnam's largest conglomerate and the parent company of Nasdaq-listed electric vehicle manufacturer VinFast, houses a dedicated AI division, positioning the country to make significant strides in the realm of AI development.
