 | Vietnam enjoys trade surplus of 125 billion USD with European, American markets |
| Importing and exporting with European – American markets decreased by 9.5% |
 |
| Apple CEO Tim Cook meets programmers in Vietnam who are developing applications for Apple’s Vision Pro product during his visit to Vietnam from April 15 to 16, 2024. Photo: TIM COOK’s X account |
“Magnet” to attract FDI capital
The fact that Vietnam and the US officially upgraded their relationship to the highest level into a comprehensive strategic partnership has opened up many opportunities to attract FDI from the US and promote bilateral trade. Thanks to that, in recent times, Vietnam has welcomed many “eagles” such as Boeing, SpaceX, Netflix, Pfizer, Visa and Citibank, Internet and cloud computing companies Meta, Amazon, Apple… to learn about investment opportunities in Vietnam. Among them, many businesses such as SpaceX, Coca-Cola, Pacifico Energy,… have made commitments to continue expanding production activities and increasing investment in Vietnam.
Realizing the incredible opportunities for Vietnam to develop in the global semiconductor supply chain, Mr. John Neuffer, Chairman of the US Semiconductor Industry Association (SIA), said that many companies from the US have significant and growing investments in Vietnam. Not only Marvell Techonology Group, Amkor Technology – one of the world’s largest outsourced semiconductor packaging and testing service providers – also inaugurated the Amkor Technology Vietnam factory. This is the world’s largest semiconductor factory of Amkor Group in Bac Ninh with a total investment of 1.6 billion USD. Or Intel, Synopsys, Qualcomm, Ampere, Infineon… Many SIA member businesses have also announced new investment plans and development plans in the potential Vietnamese market.
“These investments are testament to Vietnam’s key and growing role in the global semiconductor supply chain. In addition, Vietnam has also had quite specific and consistent orientations, goals and actions to build important initial foundations for the semiconductor industry and is currently considered a country with a good system. dynamic innovation ecosystem thanks to the rapid development of the digital economy and the strong growth of the high-tech sector. Vietnam is increasingly asserting itself as the new economic growth center of Asia with a solid position in the global supply chain, continuously receiving investment from multinational corporations”, Chairman of the Association. US semiconductor industry emphasized.
Most recently, at the end of February 2024, Kine SIC Semi Company, specializing in manufacturing high-tech chips that can be applied in many fields, expressed its desire to invest 200 million USD in Bac Ninh. According to the assessment of Mr. Johnny Nguyen, Vice Chairman of the Board of Directors of Kine SIC Semi, Vietnam is a potential land with raw material sources to create chips, so Kine SIC Semi hopes that Bac Ninh province will create conditions to find understand investing in building a factory here with a total investment capital of about 200 million USD to build a factory with an initial area of 7,500m2.
Opportunities for semiconductor chip technology
Assessing Vietnam’s potential to attract FDI capital, according to Mr. Ted Osius, Chairman and General Director of the US-ASEAN Business Council (USABC), Vietnam is increasingly playing a larger and more important role in the supply chain. global response. Vietnam is a major trading partner of the US and Vietnam has a dynamic economy. It is forecasted that in the near future there will be more US FDI capital flows into Vietnam. The current FDI capital flow is not only shown as statistical numbers but in fact there are many American businesses investing in Vietnam through other countries such as the case of Coca Cola investing in Vietnam from a company located Singapore…
Sharing the same opinion, Mr. Vu Tu Thanh, Regional Deputy Managing Director and Chief Representative in Vietnam of USABC, added that there are American corporations that do not spend money to set up factories in Vietnam, but they request factories to build factories in Vietnam. supply, in areas such as leather shoes, opening factories in Vietnam, thereby creating export value of tens of billions of dollars. 2024 is also the second year Vietnam welcomes an American business delegation to Vietnam to learn about the investment environment and cooperation opportunities.
Mr. Alex Levy, representative of Atmo – a famous AI solution provider in the US, said that Atmo chose Vietnam because businesses want to succeed in business, while bringing great value to the community and society. festival. “We do not prioritize investing in a country that will help businesses make the most money, but rather choose a place with a small initial scale, but with the potential to expand it. In less than 24 hours of being in Vietnam, I have felt the energy and positive spirit of millions of Vietnamese people, which is a great motivation for us. Atmo wants to bring value to Vietnam as soon as possible,” Mr. Alex Levy shared.
According to Mr. Nguyen Van Toan, Vice Chairman of the Association of Foreign Investment Enterprises (VAFIE), although there are no exact numbers, the “big guys” in the US technology sector are constantly coming to Vietnam to find Understanding opportunities and committing to expanding investment with long-term investment statements and goals also creates expectations that attracting FDI from the US to Vietnam will have a big change in 2024 in both quantity and quality. To attract and take advantage of this source of capital, we need to greatly improve the investment environment to attract and retain “eagles”, including American businesses. It needs to be done quickly, with maximum support for businesses, and policies need stability. Regarding global minimum tax regulations, we need non-tariff policies to ensure competitive advantage and attract investment through supporting infrastructure development, human resources, research and development (R&D)…