After NVIDIA, the ‘big guys’ Google and Meta also want to move their supply chain to Vietnam.

NVIDIA has committed to investing 4 – 4.5 billion USD in the next 4 years, creating about 4,000 direct jobs and 40,000 – 50,000 indirect jobs.

According to Minister Nguyen Chi Dung, in the context of countries promoting supply chain diversification and complex geopolitical fluctuations in the world, Vietnam is emerging as an attractive destination for investors in the semiconductor industry.

Vietnam’s advantages come from high-quality human resources with competitive costs, increasingly upgraded infrastructure, along with open policies and strong political determination of the Party and State leaders, especially the close direction of the Prime Minister.

In recent times, Vietnam has taken many drastic actions to promote this prospect, typically the establishment of the National Steering Committee for Semiconductor Industry Development headed by the Prime Minister, the issuance of the Human Resources Development Program and the Semiconductor Industry Development Strategy, and the implementation of many specific solutions.

Regarding attracting investment and developing the semiconductor ecosystem, the Ministry of Planning and Investment has actively worked with many leading technology corporations such as Qualcomm, Google, Meta, LAM Research, Qorvo, AlChip… and has a specific plan to shift the supply chain to Vietnam, develop research centers, expand investment, business, and production in Vietnam. Currently, Vietnam has attracted 174 FDI projects in the semiconductor sector, with a total registered capital of nearly 11.6 billion USD.

In particular, with the world’s leading technology corporation NVIDIA, the Prime Minister has directed the Ministry of Planning and Investment to coordinate with relevant agencies to establish two specialized teams, including the Cooperation Implementation Working Group and the Negotiation Team with NVIDIA, to promote the cooperative relationship between the two sides. NVIDIA has committed to investing from 4 to 4.5 billion USD in the next 4 years, creating about 4,000 direct jobs and 40,000 to 50,000 indirect jobs. On December 5, 2024, a cooperation agreement between the Vietnamese Government and NVIDIA was signed to establish a Research and Development Center and an AI Data Center in Vietnam.