HONOI: As part of US President Joe Biden’s visit to Hanoi on Monday( Sept 11 ), executives from major US and Taiwanese companies in the silicon, tech, and aircraft sectors gathered to discuss potential business alliances with recently unveiled AI deals.
The Vietnam-US Innovation & amp, Investment Summit was attended by senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing, according to the agenda of the meeting.
Executives from six different companies, including the Nasdaq-listed electric vehicle maker VinFast, symbol carrier Vietnam Airlines, tech firm FPT, MoMo, the nation’s largest e-wallet by users, and online business VNG, which filed for a US IPO in August, were from Vietnam.
At the conference, Biden emphasized that Vietnam was essential for the supply of essential vitamins and that the two nations were expanding their participation in cloud computing, semiconductors, and artificial intelligence.
The nation is home to the second-largest estimated rare earth reserves in the world, which are utilized in wind turbine and electric vehicles.
Following a traditional improvement in diplomatic ties that was reached on Sunday, the gathering emphasized the US’s desire to strengthen the role of Vietnam on the international stage. This is especially true in the chip industry, where Washington wants to lessen the firm’s exposure to risks associated with China, such as trade friction and Taiwanese tensions.
Following conversations with Biden and Vietnam’s Prime Minister Pham Minh Chinh, the appointment was presided over by US Secretary of State Antony Blinken and Investment Minister Nguyen Chi Dzung.
Ideas by Microsoft to create a” productive AI-based alternative tailored for Vietnam and emerging areas” are among the recently unveiled offers by the White House.
Nvidia may even collaborate on AI in the nation with Viettel, the parent company of VinFast, and Vietnam’s FPT, it said.
The White House also emphasized the number of US companies investing in chips in Vietnam, including Marvell and Synopsys’ plans to establish device design facilities there.
It added that operations for a brand-new US$ 1.6 billion Amkor manufacturer that does organize, bundle, and test chips are scheduled to begin in October.
The purchase price is comparable to Intel’s largest global device assembly facility, which is located in the south of the nation and costs US$ 1.5 billion. It might be expanded, resources said earlier this year.
According to the White House, Vietnam Airlines may also buy 50 Boeing 737 Max aircraft as part of a deal that is estimated to be worth about US$ 7.5 billion.
The White House also announced that a pilot initiative to create Vietnam’s primary battery energy storage system will be launched by US company Honeywell in collaboration with another Asian partner.