Hanoi (VNA) – Deputy Prime Minister Le Minh Khai onJanuary 12 called on the Semiconductor Industry Association (SIA) of the US toencourage its member enterprises to increase investment in Vietnam.

Receiving SIA President and CEO John Neuffer in Hanoi, theDeputy PM welcomed SIA's selection of Vietnam as one of the destinations to survey inits fact-finding tour of Southeast Asia. He considered this as a starting pointfor cooperation between SIA and the Vietnamese Government, thereby promoting thepossibility of Vietnam’s engagement in global semiconductor supply chains.

The Vietnamese Government has issued many support policies forinvestment in and development of hi-tech products, with the semiconductor industrygiven the top priority, he noted, stressing that strongly developing science,technology, innovation, and digital transformation was identified as a keydriver of economic growth during the 2021 - 2030 period.

Vietnam prioritises hi-tech and innovation projects withspillover effects in which investors pledge to facilitate Vietnamese firms’participation in production chains, cooperate in human resources training andresearch and development (R&D), and help boost digital economy and socio-economicdevelopment, Khai said.

Headded Vietnam boasts much potential for developing the semiconductor industrythanks to high-quality human resources and a large electronics manufacturingsector with many major businesses like Intel,Samsung, Foxconn, Amkor, and LG. The National Innovation Centre was alsoestablished to support innovation, R&D, and the building of an innovationecosystem that focuses on enterprises.

For his part, Neuffer said the US’s semiconductorindustry is working to re-balance the global semiconductor production chain.

He stressed the importance of Vietnam to the US's production chains, expressing his hope that Vietnam will play anincreasingly important role in the US’s global semiconductor chain in thecoming time.

As other countries are advancing fast andsemiconductor businesses of the US are seeking investment chances, Neuffer saidhe hoped to cooperate with the Vietnamese Government and help the SoutheastAsian nation not miss this important opportunity.

Khai asked SIA to introduce Vietnam’s investmentclimate to US firms to encourage them to open R&D and sci-tech centres in the Southeast Asian country,and transfer technologies to help Vietnam develop businesses capable of designingand producing semiconductor products.

He also suggested SIA introduce experts and organisationsto hold on-site training courses, and present scholarships to train humanresources for the semiconductor industry in Vietnam./.