PM Chính visits Silicon Valley, calls for stronger investment from US tech giants

VIETNAM, September 19 - SAN FRANCISCO — Prime Minister Phạm Minh Chính on Monday afternoon (local time) paid a visit to the Silicon Valley during his attendance at the high-level week of the 78th session of the UN General Assembly, engaging with the US leading technology companies.

Nvidia

His first stop was at Nvidia, a prominent US enterprise specialising in semiconductor chip manufacturing. With a market capitalisation of US$992 billion as of May 2023, Nvidia boasts a global workforce of over 26,000 employees. The company has ambitious plans to increase artificial intelligence (AI) chip production more than threefold by 2024, signalling substantial growth in the near future.

In Việt Nam, Nvidia holds a significant position as a leading server and AI provider. The company has signed an agreement with Viettel, aiming to be a vital partner in Việt Nam's journey to enhance its domestic AI capabilities. The US company is also collaborating with the Vietnam Academy of Science and Technology (VAST), focusing on developing a supercomputing system utilising Nvidia's A100 chip for applications in science, technology, health, and education.

During the visit, PM Chính held discussions with Jensen Huang, co-founder and current Chairman of Nvidia, on global AI development trends and the potential for robust cooperation between Nvidia and Việt Nam. The Vietnamese Prime Minister emphasised the importance of Nvidia's continued investment in Việt Nam, particularly in areas aligning with the country's priorities.

He also offered valuable insights on policies, human resource training, and technological advancements to deepen Việt Nam's integration into the global supply chain. Furthermore, he extended an invitation for Nvidia's Chairman to visit Việt Nam, expressing hope for the establishment of a production facility in the country, positioning Việt Nam as a key hub in Southeast Asia.

Synopsys

In his visit to Synopsys, an electronic design automation (EDA) company, founded in 1986, PM Chính highlighted the importance of strengthening Synopsys' production and supply chain in Việt Nam. Given varying levels of development, cultures and market conditions between the two nations, he urged Synopsys to adapt to Việt Nam's unique conditions and provide technological, managerial, and financial solutions to accelerate Việt Nam's sustainable development.

Synopsys entered Việt Nam in 2016, establishing four offices in HCM City and Đà Nẵng, employing nearly 500 engineers. The company has signed an agreement with Ho Chi Minh City High-Tech Park to support IC design workforce training in Việt Nam, furthering its commitment to expand its investment in chip manufacturing software cooperation with Việt Nam.

Specifically, the Prime Minister requested Synopsys to support the development of Việt Nam's National Innovation Centre (NIC), participate in training high-quality human resources, and continue attracting Vietnamese talents in the United States. During his visit, Synopsys signed two memorandums of cooperation pertaining to the development of IC design human resources in Việt Nam and support for Việt Nam's semiconductor chip industry.

Meta

On the same day, Prime Minister Chính also visited Meta Platforms (formerly known as Facebook), a multinational technology corporation renowned for its ownership of Facebook, Instagram, Threads, WhatsApp and other products and services. Meta is among the top 10 most valuable listed corporations in the US, with a remarkable 2022 revenue of $116.6 billion, solidifying its position among the leading tech giants alongside Google, Amazon, Apple and Microsoft.

During the meeting, Joel Kaplan, Meta's Vice President in charge of global public policy, mentioned that Meta had initiated the production of various equipment for the 'virtual space' metaverse in Việt Nam prior to the outbreak of the COVID-19 pandemic but was disrupted due to the pandemic. Nevertheless, Meta expresses its intention to expand investments in Việt Nam, including the continued production of metaverse devices in the coming years.

Kaplan underscored the significance of the Vietnamese Government Electronic Information Portal as a strategic, vital, and effective partner for Meta in Việt Nam, even before the COVID-19 pandemic.

Following discussions and insights from company leaders, PM Chính stressed the importance of realising the potential in business partnerships, especially with Meta, to further the comprehensive strategic partnership between Việt Nam and the United States. He hopes Meta will provide technological solutions, promote technology transfer, cooperate on financial matters, and enhance digital transformation efforts. Additionally, he emphasised collaboration in cybersecurity and network safety, along with accurate information dissemination regarding the two countries' relations. — VNS