Production activities at UMC Vietnam Electronics Co., Ltd - a FDI enterprise in Tan Truong Industrial Park in Hai Duong province (Photo: sggp.org.vn) Hanoi (VNA) – The upgrade of the Vietnam-US bilateralrelations to a Comprehensive Strategic Partnership hasopened up strategic opportunities for Vietnam to lure more high-quality investment inflows in terms of innovation and high technology, said Vu Quoc Huy, Director of the National Innovation Centre(NIC) under the Ministry of Planning and Investment (MoPI).
Talking to Sai Gon Giai phong newspaper, Huy provided specific details about cooperationagreements signed between Vietnamese government agencies and US corporations during Prime Minister Pham Minh Chinh's recent official visit to the US, whichfocus on enhancing design capabilities, product development, and training humanresources serving the semiconductor industry.
NIC has signed three significant memoranda of understanding (MOUs) with USpartners, Huy said.
Among them, the MoU with Synopsys aims to support the development of achip design incubation centre.
Meanwhile, the MoU with Cadence Design Systems Inc was designed topromote the semiconductor and electronics industry in Vietnam. Through thiscollaboration, NIC will provide Vietnamese universities, training centres, andstartups with the necessary technology and training programmes to design and developsemiconductor products.
Illustrative image (Photo: baodautu.vn) Through the MoU with Arizona State University (ASU), NIC and the university will collaborate with Vietnameseresearch institutes or other educational organisations to develop trainingprogrammes and exchange research related to semiconductors and relevant fields,seek and leverage appropriate sources of funding to improve the capacity of workforcein the semiconductor industry, he said.
Huy also underlined the great potential for Vietnam to lure more investment fromthe world’s largest economy, saying that the presence of high-tech"eagles" will attract satellite businesses, thereby forming andexpanding a technology ecosystem, creating a spillover effect.
During the last three years, the US, with a 17% market share, has become the largest foreign direct investor in the ASEAN region. Asignificant portion of foreign direct investment (FDI) from the US has beenpoured into advanced manufacturing sectors.
Established in 2019, NIC works to support and develop Vietnam's startups and innovationecosystem, contributing to modernising the country's growth model by leveragingscience and technology, Huy said.
He said in October, NIC will inaugurate its new research centre covering an area of nearly 5ha in the Hoa Lac High-Tech Park in Hanoi, which will comprise a chip designincubation centre equipped with advanced technologies from major partners ofNIC.
Businesses and partners participating in NIC'sinnovation ecosystem will enjoy various preferential policies related totaxes, land, and visa, he noted.
Huy, however, stressed the need to take measures to address challenges relatedto mobilising venture investment capital, and funding from the community forinnovation activities.
It is also crucial to solve bottlenecks in the investment climate andlegal frameworks for venture capital activities in Vietnam, thus encouraging venturecapital funds to invest in businesses, startup projects and innovationinitiatives, he went on./.
