Vietnam and the US have signed business and cooperation agreements worth billions of dollars, led by companies such as Boeing, Microsoft and Nvidia, the Financial Times (FT) reported. The head of the White House called for increased cooperation in areas such as cloud computing, semiconductors and artificial intelligence.

President Joe Biden 's visit marks a historic step forward in Vietnam-US diplomatic relations, in which technology cooperation is considered a focus.

According to CNN , upgrading diplomatic relations to a “comprehensive strategic partnership” is a symbolic but significant move for the global semiconductor supply chain, a sector that is at the center of the geopolitical clash between Washington and Beijing.

The Straitstimes newspaper commented that Vietnam's dynamic manufacturing environment is an important factor in the plan to diversify the supply chain of strategic resources, including semiconductors and rare earths. Semiconductor security has become a focus of cooperation between the two countries. The US is committed to supporting Vietnam in developing its capacity and expanding production, including workforce training.

Aljazeera reported that the US has identified Vietnam as an important part of its strategic resource diversification plan. Previously, Washington announced agreements to expand the operations of US technology companies in Vietnam, including Microsoft’s plan to “build a Vietnam-specific artificial intelligence solution” and partnerships between Nvidia and FPT, Viettel and Vingroup.

The International Monetary Fund (IMF) forecasts that Vietnam's growth will slow from 8% last year to 5.8% due to a decline in exports due to weak demand. However, this growth rate is still higher than the global average of 3% and significantly higher than many major economies including the US, China and the eurozone.

After the Covid-19 pandemic spread, many industrial enterprises adopted the “China plus one” strategy, which means expanding one more production center outside the mainland to avoid “putting all their eggs in one basket”.

(Synthetic)

Vietnamnet.vn