 |
Manufacturing activities at UMC Vietnam Electronic Co., Ltd. ,a foreign-invested enterprise located in Tan Truong Industrial Park, Cam Giang District, Hai Duong Province |
As the relationship between Vietnam and the US advances to a Comprehensive Strategic Partnership and in the aftermath of Prime Minister Pham Minh Chinh's visit to the US, a host of appealing opportunities for foreign investment have emerged.
Collaboration agreements in the domains of innovation and technology, notably in the high-tech sector, have piqued the interest of numerous investors and businesses.
SGGP Newspaper recently conducted an interview with Mr. Vu Quoc Huy, Director of the National Innovation Center (NIC) under the Ministry of Science and Technology, to delve into the freshly-inked significant agreements and the investment potential offered by US partners.
According to Mr. Vu Quoc Huy, during the US visit, NIC signed three highly significant innovation and technology collaboration agreements. The initial agreement was established with Synopsys, with the aim of supporting the development of a semiconductor chip design incubation center.
The second agreement was forged in partnership with Cadence Design Systems, intended to stimulate the semiconductor and electronics industry in Vietnam. Under this initiative, NIC has committed to providing essential technology and training programs for universities, training centers, and startup enterprises, all geared toward advancing semiconductor product development.
The third agreement represents a collaboration with Arizona State University (ASU), where NIC has made a pledge to collaborate with research institutions and educational organizations in Vietnam to create training programs and facilitate research exchanges in the realm of semiconductors and related fields. This initiative will facilitate the exploration and utilization of appropriate funding sources to enhance the workforce's capabilities in the semiconductor sector.
Mr. Vu Quoc Huy underscored the investment potential of the US and the possibilities within the framework of the Comprehensive Strategic Partnership between Vietnam and the US. He observed that the US, commanding a 17 percent market share of foreign investments, has emerged as the region's leading foreign investor over the last three years. This elevation in the relationship opens up strategic opportunities for Vietnam. The presence of high-tech giants will draw in satellite businesses, thus shaping and expanding the technology ecosystem, resulting in a ripple effect.
Furthermore, he stressed that Vietnam's network of partners extends beyond the US and encompasses countries like Japan, South Korea, and various European nations. Therefore, in its operations, NIC has been able to accumulate valuable experience and leverage the strengths in technology and management of these partners.
NIC is a unit under the Ministry of Science and Technology, established in 2019 with the mission of supporting and developing Vietnam's startup and innovation ecosystem, contributing to the transformation of the growth model based on science and technology. The center is built with the most advanced model and practices, tailored to Vietnam's context, featuring distinctive mechanisms and policies that are competitive in the regional and international arena.
Specifically, NIC will inaugurate a new facility in the Hoa Lac High-Tech Park this coming October. Encompassing approximately 5 hectares and outfitted with research spaces, laboratories, and a semiconductor chip design incubation center, NIC will offer tax, land, and visa-related incentives to stimulate innovation endeavors for businesses and partners.
 |
Mr. Vu Quoc Huy, Director of the National Innovation Center (NIC) under the Ministry of Science and Technology |
Mr. Vu Quoc Huy pointed out that during this period, the government, along with various ministries, had demonstrated a strong dedication to fostering innovation and creative startups. Policy mechanisms for innovation have also been incorporated into several legal documents, including the Investment Law, the Small and Medium-sized Enterprises Support Law, and Decree 94, which outlines the policy measures to support NIC. However, he underscores the need to persistently tackle specific challenges linked to securing venture capital and community investment for innovation endeavors.
In particular, it is crucial to eliminate obstacles and bottlenecks related to the investment and business environment and legal framework for venture investments in Vietnam. Only by doing so, venture capital funds will be encouraged to invest in businesses, startup projects, and innovative startup initiatives.
Furthermore, there is a need to develop the workforce for innovation in general and some key sectors and fields in particular. Recently, NIC has implemented numerous workforce development programs in collaboration with major partners such as Google and Meta, aiming to carry out initiatives that enhance the capabilities of the workforce and students, in the realm of innovation. NIC also has plans to further advance activities and bolster human resource development in key sectors where Vietnam has not yet provided in-depth training, such as the semiconductor industry.
In general, it is essential to establish more organizations and centers to support innovation activities. Alongside NIC, businesses and localities should create and cultivate similar models to generate a wave and propagate the spirit of innovation and creativity.
