US And Vietnamese Tech, Aviation Giants Forge Partnerships In Hanoi
Top executives from leading American and Vietnamese companies in the semiconductor, technology, and aviation sectors convened in Hanoi on Monday as part of US President Joe Biden's visit to Vietnam. The Vietnam-U.S. Innovation & Investment Summit brought together industry leaders to explore new business collaborations, with a special emphasis on unveiling innovative artificial intelligence (AI) initiatives.
Among the prominent American companies represented at the summit were tech giants Google, Intel, and Microsoft, as well as semiconductor companies Amkor, Marvell, and GlobalFoundries. Boeing, a heavyweight in the aviation industry, also participated. On the Vietnamese side, executives from VinFast, Vietnam Airlines, FPT, MoMo, and VNG were present, showcasing the nation's growing tech and aviation sectors.
This high-profile meeting, following a historic diplomatic upgrade between the US and Vietnam, underscores the United States' keen interest in enhancing Vietnam's global standing. Particularly noteworthy is the focus on the semiconductor industry, as Washington seeks to mitigate risks associated with China, including trade tensions and concerns related to Taiwan.
The meeting was co-chaired by US Secretary of State Antony Blinken and Vietnam's Investment Minister Nguyen Chi Dzung. It included discussions between President Biden and Vietnam's Prime Minister Pham Minh Chinh.
Notable announcements from the White House during the summit included plans by Microsoft to develop a "generative AI-based solution tailored for Vietnam and emerging markets." Nvidia also revealed partnerships with Vietnamese firms FPT, Viettel, and Vingroup, further advancing AI initiatives in Vietnam.
Additionally, the White House highlighted significant investments by US companies in Vietnam's semiconductor sector. Marvell and Synopsys have plans to establish chip design centers in the country. A new USD 1.6 billion Amkor factory near Hanoi, set to commence operations in October, will assemble, package, and test chips, while Intel operates its largest worldwide chip assembling plant, a USD 1.5 billion facility, in southern Vietnam, with potential for expansion.
In a substantial move, Vietnam Airlines announced its intent to purchase 50 Boeing 737 Max jets, a deal valued at approximately USD 7.5 billion. This agreement underscores the deepening economic ties between the two nations.
Furthermore, US conglomerate Honeywell pledged to collaborate with a Vietnamese partner to launch a pilot project aimed at developing Vietnam's inaugural battery energy storage system, marking a significant step in advancing clean energy technology in the country.
(Inputs from Reuters)
