Chairman of Provincial People’s Committee attends announcement and launching ceremony of U.S. International Technology Security & Innovation (ITSI) Fund in Vietnam

Minister of Planning and Investment Nguyen Chi Dung (6^th from left), Ambassador of the U.S. Embassy & Consulate in Vietnam Marc Knapper (6^th from right) and Chairman of the Provincial People’s Committee Vuong Quoc Tuan (5^th from right) perform the launching ceremony of the U.S. ITSI Fund in Vietnam.

Participants at the ceremony were Mr. Nguyen Chi Dung, Member of the Party Central Committee, Minister of Planning and Investment, Standing Deputy Head of the National Steering Committee on Semiconductor Development; Ambassador of the U.S. Embassy & Consulate in Vietnam Marc Knapper.

For Bac Ninh province, Mr. Vuong Quoc Tuan, Alternate Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People’s Committee; and leaders of departments and sectors attended the ceremony.

The ITSI Fund is a key initiative of the U.S. CHIPS and Science Act designed to enhance semiconductor capabilities and supply chain resilience worldwide.

Vietnam is one of eight strategic countries selected for the initiative, along with Costa Rica, Mexico, Panama, Indonesia, the Philippines, Kenya, and India. The U.S. Department of State has awarded the ASU USD 13.8 million to drive talent development and formulate public policy recommendations in these countries.

Speaking at the ceremony, Minister of Planning and Investment Nguyen Chi Dung affirmed that this is a practical and meaningful measure to celebrate the first anniversary of the establishment of the Comprehensive Strategic Partnership for peace, cooperation, and sustainable development between Vietnam and the U.S. and to immediately implement the “Developing Human Resources for the Semiconductor Industry to 2030, with a vision to 2050” project that the Ministry of Planning and Investment (MPI) has researched, developed, and submitted to the Prime Minister.

According to the Minister, in addition to cooperative activities in training and human resources development, Vietnam and the U.S. have agreed to make innovation and high technology, especially the semiconductor industry, an important pillar of the bilateral cooperation relationship.

“I urge U.S. semiconductor companies to continue to expand their cooperation, investment, and business activities in Vietnam. U.S. investment in and support of Vietnam’s human resources is key to opening the door to a brighter and more sustainable future, bringing great benefits to both Vietnam and the U.S. The Vietnamese Government and MPI are committed to supporting and facilitating the investment, business, and innovation activities of U.S. technology companies in Vietnam”, Minister Dung said.

Chairman of the Provincial People’s Committee Vuong Quoc Tuan speaks at the announcement.

Delighted to be the only locality to speak at the ceremony, Chairman Vuong Quoc Tuan emphasized that Bac Ninh is a province with an important role in the Capital Region and is one of the 7 key provinces of the North. With a favorable geopolitical position, a synchronous transport infrastructure system, abundant human resources and attractive, dynamic and creative incentive policies, over the years, Bac Ninh has always been in the top of the country in attracting foreign investment and is the industrial capital of the Northern provinces, he added.

Up to now, Bac Ninh has attracted more than 2,400 FDI projects with a total investment capital of about USD 29 billion from 41 countries and territories in 16 industries and fields, mainly on the manufacturing and processing industry, and electronics industry. Of which, the U.S. has 21 projects with a total investment of USD 1.8 billion, typically Amkor Technology, Inigen, C&D Tech Vina. For the semiconductor sector only, in the two years of 2023 - 2024, the total investment attraction value of Bac Ninh province has reached about USD 3 billion.

Chairman Tuan said that according to the Provincial Planning for the 2021 – 2030 period, with a vision to 2050, Bac Ninh focuses on developing the industry in depth, with the goal of prioritizing the development of a number of industries by 2030 such as manufacturing electronic equipment; manufacturing components and spare parts for the aviation industry, manufacturing high-tech equipment and pharmaceuticals, medical industrial equipment; high technology and by 2050 it will become a center for high-tech innovation and research and development (R&D) in the Southeast Asian region.

To achieve this goal, the province continues to promote its existing advantages and maintain the electronics manufacturing industry as the main driving force for industrial development, focusing on high-value segments, specifically smartphones and smart wearable devices. As a result, it will gradually improve its position in the electronics manufacturing value chain, integrate the value chain with research activities; expand the supply chain to production and become the semiconductor capital of Vietnam.

Chairman of the Provincial People’s Committee Vuong Quoc Tuan (5^th from right) takes a photo with delegates attending the announcement.

In the steps to realize that goal, Bac Ninh aims to attract “core” projects that open up great prospects in the semiconductor industry, typically creating a breakthrough in attracting large corporations and creating a spillover. With focused goals, especially developing infrastructure systems, administrative reform, and improving the quality of human resources, these are the three breakthroughs that create Bac Ninh’s attractiveness to investors.

In addition to the readiness of industrial park infrastructure, electricity and water supply systems, transportation systems, logistics, social infrastructure such as housing for experts and workers, Bac Ninh always focuses on human resource development and considers this as the number one priority, the driving force for development over the past time. Bac Ninh province also commits to always support and accompany businesses, and is ready to work with other service providers to support investors.

“Many projects are negotiated overnight, not counted by days, numerous projects are only calculated in hours to facilitate the issuance of investment certificates, support other procedures after the issuance of investment certificates. Especially construction appraisal procedures, fire prevention and fighting, environmental impact assessment are all resolved by Bac Ninh province to the maximum, both during the construction process as well as when put into operation later”, Tuan stressed.

Sharing about the future orientation, Tuan also noted that with the goal of becoming a high-tech industrial center based on smart and green manufacturing, Bac Ninh has prepared the best conditions and continues to improve, innovate, and is determined to become the capital of semiconductor manufacturing and high-tech electronics industry. In order to advertise, attract, and promote investment, especially in the fields of chips, semiconductors, electronics, and high-tech industry, it is expected that on September 24, 2024, a delegation led by the Secretary of the Bac Ninh Provincial Party Committee will visit and work in the U.S. The focus is on organizing an investment promotion seminar in Arizona with the participation of U.S. semiconductor enterprises and training institutions.

Affirming that the ITSI Fund plays an important role in promoting and supporting Bac Ninh in innovation, research and training in the semiconductor field, the Chairman hoped that Bac Ninh would become a typical element and be interested and replicated in the coming time.

At the announcement, delegates performed the launching ceremony of the U.S. ITSI Fund in Vietnam in developing human resources for the semiconductor industry.