American Semiconductor Companies Eager for Clean Energy Investment in Vietnam
Under Secretary of State for Economic Growth, Energy, and the Environment, Jose W. Fernandez, revealed that US semiconductor businesses are eager to exclusively utilize renewable energy in their investments within Vietnam’s semiconductor sector. During a roundtable discussion in Hanoi on January 26, part of his Asian visit, he shared insights into the industry’s plans and challenges.
Renewable Energy Preferences
US companies are awaiting the expansion of Vietnam’s renewable energy framework before finalizing their investments. Currently, 15 semiconductor firms have expressed interest in investing up to $8 billion in Vietnam, contingent on the availability of renewable energy options.
Collaborative Efforts and Education Initiatives
To address the challenges, Fernandez highlighted ongoing and future collaborations. The US government aims to work with Vietnam to enhance the business environment and energy regulations, facilitating more companies to invest. Moreover, the US plans to support Vietnamese education institutions, aiming to educate over 50,000 engineers in the semiconductor field in the coming years.
Global Collaboration and Diversification
Fernandez emphasized the importance of diversifying supply chains and highlighted the global competition. The US is committed to supporting countries like Vietnam in creating an international semiconductor value chain. Vietnam, with its young and qualified workforce, large domestic market, and an export-oriented culture, aligns well with the US goal of supply chain diversification.
Future Recommendations and Collaboration
In the next one or two months, recommendations from the Organization for Economic Co-operation and Development (OECD) are expected to address the improvement of semiconductor human resources in Vietnam. Fernandez reiterated the importance of Vietnam seizing the opportunity and understanding the global competition, emphasizing that a victory for Vietnam would be mutually beneficial.
Jose W. Fernandez’s visit to Vietnam is part of a larger tour covering three Asian countries, including the Philippines and South Korea. The focus of the visit is to implement agreements reached during President Joe Biden’s trip to Hanoi in September 2023, with semiconductors being a central point of discussion. The dialogue also extends to trade opportunities, workforce training, and clean energy collaboration between the US and Vietnam.
Source：vneconomy.vn
