Geopolitical tensions may rise in the upcoming weeks due to strengthening alliances. As the U.S. and Vietnam forge closer strategic ties, Russia and North Korea are also deepening their relations.
The White House on Sunday announced a bevy of partnerships with Vietnam aimed at boosting areas like artificial intelligence (AI), aviation, semiconductors, and beyond.
Here’s what you need to know about the announcements.
Semiconductor Supply Chains: A new Memorandum of Cooperation recognizes Vietnam's role in creating resilient semiconductor supply chains, especially where re-shoring to the U.S. isn't feasible.
The U.S. is aiming to bolster Vietnam's semiconductor ecosystem, including its regulatory framework, infrastructure, and workforce, through the U.S. CHIPS Act's International Technology Security and Innovation Fund (ITSI Fund).
Major Initiatives: Arizona-based Amkor Technology Inc (NASDAQ: AMKR) is set to kickstart its advanced factory in Bac Ninh Province come October of this year, with an initial investment of $1.6 billion.
California-based tech giants Synopsys Inc (NASDAQ: SNPS) and Marvell Technology Inc (NADSAQ: MRVL) will also venture into Vietnam with their semiconductor design and incubation centers.
Powering the Future: A battery energy storage system is ...