Hoan said that together with available advantages, the city has made efforts to be well prepared in land funds, policies and mechanisms, human resources, and investor trust building.

He said that the city is aiming for green growth criteria, applying digital technology and promoting in-depth investment in semiconductor chips and artificial intelligence that serve high technology industries. The city also targets investors in semiconductor chips, artificial intelligence, and chain-forming production.

Vice Chairman of the Ho Chi Minh City People’s Committee Vo Van Hoan ( right) and President and CEO of the U.S. Semiconductor Industry Association (SIA) John Neuffer

Hoan suggested that U.S. businesses form a U.S. technology park in Ho Chi Minh City to facilitate infrastructure development and administration.

The city has a sufficient land fund for businesses to form the park, Hoan said, adding that the local authorities always listen to businesses to make proper policy adjustments and create favorable conditions for them to invest in the locality.

For his part, John Neuffer said that U.S. semiconductor industry enterprises are currently operating strongly in the Southern region of Vietnam. Under the impact of the COVID-19 pandemic as well as the general world context, they have to rebalance their supply chains.

The supply chain of the semiconductor industry is not only developed domestically but must be linked with other countries, including Vietnam, he said, adding that mechanisms to attract and encourage investment, and human resources are important factors for U.S. businesses to consider and choose to invest in.

According to Neuffer, on the map of the world semiconductor industry, Vietnam is currently in the stages of testing – packaging, and back-end design (designing codes and programs to operate applications or websites). In the coming time, Vietnam can promote the development of other stages in the semiconductor chip supply chain such as designing.

Amid the bilateral cooperative relationship, John Neuffer believes that cooperation in the semiconductor industry between the U.S. and Vietnam in general, and Ho Chi Minh City in particular, will be promoted in the coming time.

The same day, the U.S. business delegation visited the Saigon Hi-Tech Park to learn about hi-tech development infrastructure.

Founded in 1977, the SIA gathers a network of member companies accounting for up to 99% of the semiconductor industry's revenue in the U.S., with two-thirds from foreign enterprises. It has played a proactive role in prompting the U.S. to foster cooperation efforts in developing Vietnam's semiconductor ecosystem.

Source: VNA