US chip giant Nvidia wants to set up a base in Vietnam to develop the semiconductor industry, the company's chief executive said, quoted by the Vietnamese government, AFP reported.
Jensen Huang, chairman and chief executive of the Silicon Valley chipmaker, is visiting the Southeast Asian country, which is looking to boost investment in its growing semiconductor industry.
During a meeting with Vietnam's Prime Minister Pham Minh Chinh, Huang said Nvidia wanted to set up a base in the country, according to a report posted on the government's official website.
The report said Huang praised Vietnam's potential in the IT sector and said Nvidia had invested about $250 million in the country.
Several chip giants have opened or expanded operations in Vietnam.
In October, South Korea's Amkor opened a new $1.6 billion packaging factory, and a month earlier Hana Micron opened a $600 million packaging factory.
During his visit to Hanoi in September, US President Joe Biden pledged to help the communist country develop its capabilities and expand its production.
Global supply chain turmoil and concerns about US dependence on China for strategic resources are driving investment in Vietnam's growing semiconductor industry.
Vietnam has about 6,000 engineers in the semiconductor industry, but needs thousands more. The goal is for their number to reach 50,000 by 2030. /BGNES
