US chip giant Nvidia wants to set up a base in Vietnam to develop its semiconductor industry, its CEO said, quoted by the Vietnamese government.
Jensen Huang, chairman and CEO of the Silicon Valley chip titan, is visiting the Southeast Asian country as it looks to increase investment in its growing semiconductor industry.
During a meeting with Vietnamese Prime Minister Pham Minh Chinh, Huang said Nvidia wants to set up a base in the country, according to a report published late Sunday on the government’s official website.
The report said Huang praised Vietnam’s potential in the IT sector and noted that Nvidia had invested about $250 million in the country.
Several chip giants have opened or expanded operations in Vietnam.
South Korea’s Amkor opened a new $1.6 billion packaging plant in October, and Hana Micron opened a $600 million packaging plant a month earlier.
During a visit to Hanoi in September, US President Joe Biden pledged to help the communist nation develop its capabilities and expand production.
Upheavals in the global supply chain and concerns about the United States’ dependence on China for strategic resources are fueling increased investment in Vietnam’s growing semiconductor industry.
Vietnam has about 6,000 masterminds in the semiconductor assiduity, but it needs thousands more. By 2030, it is planned to increase their number to 50,000.
