Citing the CEO of the US chipmaker, the Vietnamese government stated that Nvidia wants to set up shop in Vietnam to advance the nation's semiconductor industry because it views the Vietnamese market as significant.
Nvidia's CEO, Jensen Huang, declared during his first visit to the nation in Southeast Asia that the company considered Vietnam home and reaffirmed its intentions to establish a centre there.
"The base will be for attracting talent from around the world to contribute to the development of Vietnam's semiconductor ecosystem and digitalisation," the Vietnamese government statement cited Huang after his meeting with Prime Minister Pham Minh Chinh.
Nvidia, which has already invested $250 million in Vietnam, is scheduled to meet on Monday to negotiate semiconductor cooperation agreements with Vietnamese government and tech companies, according to a report from Reuters on Friday.
With trade tensions between the US and China creating prospects for Vietnam in the industry, the country, which is home to massive chip assembly factories, including the largest Intel factory in the world, is attempting to grow into chip development and maybe chip manufacturing.
When Washington strengthened diplomatic relations with Vietnam in September, a letter released by the White House revealed that the chipmaker has already engaged with prominent Vietnamese IT businesses to implement AI in the cloud, automotive, and healthcare industries.
