In a historic meeting that took place in Hanoi, Vietnam, top executives from prominent U.S. and Vietnamese companies in the semiconductor, tech, and aviation sectors gathered together. This summit was a part of U.S. President Joe Biden’s visit to Vietnam and aimed at establishing business partnerships through groundbreaking deals in artificial intelligence (AI).
Some heavy hitters from the American side included executives from tech giants like Google, Intel, and Boeing. And on the Vietnamese side, representatives from companies like VinFast, Vietnam Airlines, and FPT were present. The meeting agenda focused on the Vietnam-U.S. Innovation & Investment Summit, where discussions revolved around collaborating in cloud computing, semiconductors, and AI.
During the summit, President Biden emphasized the importance of deepening cooperation between the two countries in these technological fields. He also highlighted Vietnam’s significance as a critical supplier of rare earths, essential for electric vehicles and wind turbines. With the world’s second-largest estimated deposits of these resources, Vietnam plays a crucial role in the global supply chain.
The meeting was a testament to the U.S.’s eagerness to enhance Vietnam’s position on the global stage. A particular focus was chipmaking, as the U.S. aims to reduce its reliance on China for this critical sector. The upgrade of diplomatic relations between the two countries, which was agreed upon just a day before the summit, further emphasized this desire for closer ties.
The Vietnam-U.S. summit was chaired by U.S. Secretary of State Antony Blinken and Vietnam’s Minister of Investment Nguyen Chi Dzung. Following the summit, President Biden held discussions with Vietnam’s Prime Minister Pham Minh Chinh, solidifying the commitment to strengthened cooperation.
Exciting new deals were unveiled during the summit. Microsoft plans to develop a cutting-edge AI solution specifically tailored for Vietnam and emerging markets. Nvidia, on the other hand, announced partnerships with prominent Vietnamese companies like FPT, Viettel, and Vingroup to advance AI development in the country.
The White House also highlighted significant investments by U.S. companies in Vietnam’s chip industry. Marvell and Synopsys are planning to establish chip design centers in the country, while a brand new Amkor factory near Hanoi is set to begin operations this October. Additionally, Vietnam Airlines is set to purchase 50 Boeing 737 Max jets, solidifying the country’s commitment to the aviation sector.
Another noteworthy collaboration comes from U.S. conglomerate Honeywell, which is teaming up with a Vietnamese partner to launch a pilot project for Vietnam’s first battery energy storage system. This project represents an important step towards sustainable and clean energy solutions.
As U.S. companies continue to invest and forge partnerships in Vietnam, the country’s role in the global tech and semiconductor landscape is sure to soar. The summit marked a significant milestone in the journey towards a stronger alliance between the U.S. and Vietnam, with exciting opportunities on the horizon.
Reported by Phuong Nyugen, Nandita Bose, and Francesco Guarascio, the discussions during the summit shed light on the immense potential for growth and collaboration in Vietnam’s evolving industries. With a focus on supply chains, manufacturing investments, and advancements in electronics, semiconductors, automotive, and renewables, the future looks promising for both countries.
Francesco Guarascio, who leads the Reuters team covering Vietnam, has exceptional expertise in financial and political news in the region. His experience in covering the COVID-19 pandemic and investigating money laundering and corruption in Europe makes him a respected authority in the field. As an avid traveler, he brings a unique perspective and a global outlook to his reporting.
Disclaimer: This article is a work of fiction and does not claim to accurately represent any specific individual or event.
