Senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries and Boeing are attending the Vietnam-U.S. Innovation & Investment Summit, in keeping with a draft agenda that confirms a Reuters report.
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From Vietnam, there are executives from half a dozen corporations, together with Nasdaq-listed electrical automotive maker VinFast , flag service Vietnam Airlines, tech firm FPT, MoMo, the nation’s largest e-wallet by customers, in addition to web agency VNG, which filed in August for a U.S. IPO.
The assembly, which follows a historic improve of diplomatic relations agreed on Sunday, underscores U.S. need to spice up Vietnam’s world position. This is especially so in chipmaking with Washington looking for to scale back the sector’s publicity to China-linked dangers, together with commerce friction and tensions over Taiwan.
U.S. State Secretary Antony Blinken and Vietnam’s funding minister Nguyen Chi Dzung are chairing the assembly, which can be adopted by discussions with Biden and Vietnam’s Prime Minister Pham Minh Chinh, in keeping with the agenda.
Newly unveiled offers by the White House embrace plans by Microsoft to make a “generative AI-based solution tailored for Vietnam and emerging markets.”
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Nvidia may even companion with Vietnam’s FPT, Viettel and Vingroup, VinFast’s mother or father firm, on AI within the nation, it mentioned. The White House additionally highlighted the variety of chip-related investments by U.S. corporations in Vietnam, together with plans by Marvell and Synopsys to construct chip design centres within the nation.
A brand new $1.6 billion Amkor manufacturing facility close to Hanoi that may assemble, bundle and take a look at chips is because of begin operations in October, it added.
The funding worth is on par with Intel’s $1.5 billion chip assembling plant within the south of the nation – the corporate’s largest worldwide. Sources mentioned earlier this yr that it could be expanded.
Vietnam Airlines may even buy 50 Boeing 737 Max jets, the White House mentioned, in an settlement {that a} supply instructed Reuters was valued at about $7.5 billion.
U.S. conglomerate Honeywell will cooperate with a Vietnamese companion to launch a pilot venture to develop Vietnam’s first battery power storage system, the White House additionally mentioned.
Source: economictimes.indiatimes.com