Biden Accompanies US Semiconductor and Tech Companies Including Intel to Vietnam
Business Meeting Scheduled During State Visit to Vietnam on the 11th
During U.S. President Joe Biden's state visit to Vietnam, major American semiconductor and tech companies will accompany him on the trip.
According to foreign media, a business meeting will be held on the 11th in Hanoi, Vietnam, attended by senior executives from U.S. companies such as Intel, Google, Amkor Technology, Marvell Technology, GlobalFoundries, and Boeing.
The meeting will also include Vietnam's largest technology company, FPT. About 30 senior government officials and corporate executives from both countries, including U.S. Secretary of State Tony Blinken, are expected to attend.
Some of the U.S. companies attending this meeting are known to have already invested in Vietnam or announced investment plans. Intel has a semiconductor assembly and testing plant in southern Vietnam and is reportedly planning to expand it. Amkor Technology is also reportedly pushing to establish a semiconductor factory near Hanoi, and semiconductor design company Marvell Technology has announced investment plans in Vietnam.
The United States aims to support Vietnam in emerging as a key player in the global semiconductor production system through President Biden's visit and economic exchanges between the two countries. The U.S. is pursuing a strategy to minimize exposure to China in the semiconductor sector to avoid the impact of China-related risks such as U.S.-China trade conflicts and military tensions surrounding Taiwan.
Vietnam is also seeking to build semiconductor factories domestically. Vietnamese government authorities have recently requested advice from Samsung Electronics, Intel, Qualcomm, and others for the construction of the country's first semiconductor factory.
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Furthermore, if official relations with Vietnam are elevated, business cooperation in the field of artificial intelligence (AI) is expected to take place. Vietnam's largest company, Vingroup, operates a department focused on AI development. Vingroup's automobile brand, VinFast, is listed on the U.S. Nasdaq.
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