PM Pham Minh Chinh (L) and SIA Chairman John Neuffer (Photo: VNA)  

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on December 10 for a delegation of the US Semiconductor Industry Association (SIA) led by its Chairman John Neuffer.

The delegation included leaders of technology giants such as Intel, Ampere, Marvell, Cirrus Logic, Infineon, and Skyworks.

PM Chinh applauded Neuffer and the SIA for their proactive role in connecting member companies, including NVIDIA, AMD, Cadence, Marvell, ARM, Qorvo, and LAM Research, with promising business opportunities in Vietnam.

Innovation, particularly in the semiconductor industry, is defined as a new and crucial pillar of the Vietnam-US Comprehensive Strategic Partnership, he said, adding that Vietnam’s socio-economic development strategy has set a breakthrough focus on science -technology, innovation and digital transformation.

Vietnam continues to maintain macro-economic stability, a peaceful environment, uphold independence and sovereignty, ensure national defence-security and social order. At the same time, it is pushing forward with three strategic breakthroughs regarding institutional and administrative reform, infrastructure and human resources to improve the business climate. This aims to create new development spaces, reduce time and costs, facilitate investments, enhance the competitiveness of goods, and ensure that investors can cooperate with Vietnam confidently and sustainably, the PM stressed.

He also affirmed Vietnam’s incentives for investors in science-technology, innovation and semiconductor chips in the spirit of “harmonising interests and sharing risks” among the State, businesses and citizens.

"Together, we listen and understand, share visions and actions, work together, win together, enjoy together, develop together, and share in the joy, happiness and pride”, he said.

The PM urged the SIA to encourage US companies to invest more effectively in Vietnam's semiconductor, artificial intelligence and cloud computing, particularly helping Vietnamese firms join the global supply chain, promoting investment in infrastructure, and establishing training facilities and R&D centres for semiconductors.

On the occasion, he also suggested the SIA to prompt the US Government to further promote its relations with Vietnam in a more intensive, extensive, practical and effective manner, recognise Vietnam as a market economy, and lift restrictions on high-tech product exports to the country.

Neuffer, for his part, lauded Vietnam as a prime investment destination, with initiatives and efforts in developing the semiconductor industry.

He highlighted Vietnam's progress in diversifying and developing its supply chain as well as its advantages, such as an abundant and diligent workforce, alongside modern electricity, water, telecommunications and data centre infrastructure and several internationally renowned technology companies like Viettel.

SIA members and US enterprises are interested in the US-Vietnam relations and will continue to support Vietnam's efforts to develop the semiconductor industry and strong supply chain, he said.

Members of the delegation also reaffirmed their strong commitments to the Vietnamese market, and shared updates on their operations and plans to expand investment in the near future./.