US to expanding tech partnerships with Vietnam

President Biden’s visit to Hanoi featured a summit where American tech giants, including Google and Microsoft, partnered with Vietnamese companies. Deals in AI, semiconductors, and energy storage were announced, emphasizing economic ties and Vietnam’s role as a key supplier.

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On September 10 and 11, 2023, President Biden of the United States and Vietnamese Communist Party General Secretary Nguyen Phu Trong announced the U.S.-Vietnam Comprehensive Strategic Partnership.

What is the goal? U.S.-Vietnam Comprehensive Strategic Partnership, goal is to expand bilateral joint research through the Vietnam-U.S. Science and Technology Agreement for Research. The agreement aims to promote scientific and technological cooperation between the two countries, which may include joint research and development.

During President Biden’s visit to Hanoi, high-ranking executives from major US corporations such as Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing discussed with their Vietnamese counterparts at the Vietnam-U.S. Innovation & Investment Summit. The focus of these discussions revolved around potential partnerships across various technology sectors. President Biden emphasised the importance of cooperation in fields like cloud computing, semiconductors, and AI, underscoring Vietnam’s critical role as a supplier of rare earth materials.

The White House also revealed several significant agreements, including Microsoft’s intention to develop a customised AI solution tailored for Vietnam, Nvidia’s partnership in AI initiatives with Vietnamese companies, and the establishment of chip design centers in Vietnam by US firms like Marvell and Synopsys. Furthermore, a $1.6 billion Amkor facility near Hanoi is set to commence operations, while Honeywell will collaborate on creating Vietnam’s inaugural battery energy storage system. The primary objective of this meeting was to fortify economic bonds and facilitate the expansion of Vietnamese enterprises into the United States and the global supply chain.