(CTN News) – According to the Vietnamese government, Nvidia (NVDA.O) expressed its desire to establish a presence in Vietnam to develop the country’s semiconductor industry, as it considers the Vietnamese market to be of great importance.
During his inaugural visit to the Southeast Asian nation, Nvidia’s CEO, Jensen Huang, emphasized that Vietnam is seen as the company’s home and confirmed its plans to establish a center in the country.
The purpose of this base, as stated by Huang after his meeting with Prime Minister Pham Minh Chinh, is to attract talent from around the world to contribute to the advancement of Vietnam’s semiconductor ecosystem and digitalization.
According to a Reuters report on Friday, Nvidia is set to engage in discussions regarding semiconductor cooperation agreements with Vietnamese tech companies and authorities in a meeting on Monday.
This comes in addition to the $250 million investment that Nvidia has already made in Vietnam.
With Vietnam being home to major chip assembly factories, including Intel’s (INTC.O) largest facility globally, the country aims to expand into chip design and potentially chip manufacturing, taking advantage of trade tensions between the United States and China.
Furthermore, Nvidia has already collaborated with Vietnam’s leading tech companies to implement artificial intelligence (AI) in the cloud, automotive, and healthcare industries, as revealed in a document published by the White House in September when diplomatic relations between Washington and Vietnam were upgraded.