Vietnam rolls out red carpet for US chip giant’s investment: Minister

Vietnam boasts huge potential to develop semiconductor and AI industries, and pledges to create favourable conditions for NVIDIA corporation, a leading chip producer in the US, Minister of Planning and Investment Nguyen Chi Dung said on December 11.
Vietnam rolls out red carpet for US chip giant’s investment: Minister ảnh 1 President and CEO of the US chip giant Jensen Huang (third, right) visits Vietnam's largest innovation space at the Vietnam National Innovation Centre in Hoa Lac Hi-tech Park in Hanoi. (Photo: VNA)
Hanoi (VNA) – Vietnam boasts hugepotential to develop semiconductor and AI industries, and pledges to createfavourable conditions for NVIDIA corporation, a leading chip producer in the US,Minister of Planning and Investment Nguyen Chi Dung said on December 11.

At a roundtable discussion on the semiconductor industry andAI development trends and opportunities for Vietnam, Dung suggested NVIDIAenhance research and development (R&D) activities, carry out semiconductorand AI projects in Vietnam, and build R&D centres and labs at the NationalInnovation Centre (NIC), and high-tech parks.

Dung expressed his hope that NVIDIA will facilitate conditions for Vietnameseengineers to engage in internships and work at the corporation, help Vietnamdevelop incubators for semiconductor firms, while supporting the country to getaccess to and implement projects under the US’s fund for semiconductorproduction and development activities.

Dung recommended NVIDIA expand cooperative and investment projectsin Vietnam and partner with Vietnamese companies to develop a supporting ecosystem for the Southeast Asian country’ssemiconductor and AI industries. It can also join hands with the NIC to carryout a project on semiconductor human resources development until 2030, andcooperate with Vietnam’s education establishments to implement human resources trainingprogrammes.
Dung stressed that a sound environment and close coordination betweengovernment agencies and businesses have an important role to play in developingthe spearhead industries and making contributions to improving the competitiveedge as well as making Vietnam a leading innovation centre in the region.

For his part, President and CEO of the US chip giant Jensen Huang spoke highlyof Vietnam’s potential and opportunities to branch out its semiconductor and AIindustries, especially the country’s human resources in the fields.

Vietnam is prepared for the AI development wave, and it is time forboth sides to set up strategic relations in the fields, he said, adding NVIDIAwill expand its existing partnership with Vietnam, making the country its second homeland.

According to Jensen Huang, it is necessary for the country to encourage newgenerations to engage in AI as well as improve the skills of its humanresources, and develop 1 million AI experts.

NVIDIA stands ready to cooperate with Vietnam to improve its human resources capacity, and AI infrastructure, he stressed.

Earlier, Jensen Huang had a meeting with Prime Minister Pham Minh Chinh, duringwhich he said NVIDIA wishes to establish a base in Vietnam to attract talentsin the fields.

NVIDIA is a multinational corporation specialisingin the production of innovative graphics processing units (GPUs), applicationprogramming interfaces (APIs) for data science and high-performance computing,and system on chip units (SoCs) for mobile computing and the automotive market.

The company has more than 27,000 employees,and recently recorded a revenue of nearly 27 billion USD.

With the AI fever gripping across the globe, NVIDIAhas plans to triple its AI production for 2024./.
VNA

See more

Executive President of the China - ASEAN Business Council (CABC) Xu Ningning. (Photo: VNA)

Broader space for Vietnam - China cooperation: Chinese expert

By working together on new challenges and business opportunities, the prospects for cooperation between China and Vietnam will be even broader, and there will certainly be more space for development, said Executive President of the China - ASEAN Business Council (CABC) Xu Ningning.

Illustrative image (Photo: VNA)

Vietnam, Algeria forge stronger economic bonds

The Vietnam Trade Office in Algeria held a meeting with representatives from several Algerian trade promotion organisations and businesses on January 15 to look back on bilateral trade and chart a course for future collaborations.

Swiss-Viet Economic Forum members (Photo: VNA)

Swiss-Viet Economic Forum helps boost bilateral collaboration

The Swiss-Viet Economic Forum (SVEF) set goals for 2025, focusing on continuing to serve as a bridge to strengthen economic and cultural relations between the two countries at an event on January 15 to celebrate the first anniversary of its establishment.

Workers at a Taiwanese company in An Duong industrial part, Hai Phong city. (Photo: VNA)

Hai Phong, Quang Ninh attract 7.82 billion USD in FDI in 2024

With 7.82 billion USD in foreign direct investment lured in 2024, the port city of Hai Phong and the northeastern province of Quang Ninh continued affirming their strong attraction as the two pillars of the northern economic triangle, that includes Hanoi.

TPBank secures 120 million USD loan from JICA. (Photo courtesy of JICA)

TPBank secures 120 million USD long-term loan from JICA

The Japan International Cooperation Agency (JICA) officially signed a loan agreement with the Tien Phong Commercial Joint Stock Bank (TPBank) under the Private Sector Investment Finance (PSIF) project on January 14.

Kim Long Motor Hue JSC and Changan Automobile Group sign a cooperation agreement on building a factory. (Photo: VNA)

New passenger car factory to be built in Hue

Kim Long Motor Hue Joint Stock Company and Changan Automobile Group (China) on January 14 signed a cooperation agreement to build a passenger car factory at an industrial park in the central city of Hue that will be capable of producing 50,000 vehicles per year.

Illustrative photo (Photo: VNA)

Quang Ninh sets land clearance as priority for FDI attraction

The northern province of Quang Ninh is on a mission to cement its status as one of Vietnam's premier destinations for foreign direct investment (FDI), with a strategic focus on land clearance for industrial park infrastructure projects this year.