Tech giants Intel, Google, Amkor, GlobalFoundaries, Boeing to meet US President Joe Biden in Vietnam: Report

Top U.S. semiconductor and digital companies, including Intel, GlobalFoundries, and Google, are anticipated to participate in a significant business gathering in Hanoi during President Joe Biden's Vietnam visit, according to a report by Reuters. The meeting comes after US President Joe Biden's visit to India for the G20 Summit 2023. The report suggests that the broader strategy of the meeting is to mitigate risks associated with China, such as trade restrictions and tensions over Taiwan. Expected attendees include senior executives from Google, Intel, Amkor, Marvell, GlobalFoundries, and Boeing.

Semiconductors are set to be a central focus during President Biden's visit to Hanoi. This gathering, involving approximately 30 top executives and officials, aims to elevate relations between the United States and Vietnam. However, specific announcements from the attending companies remain undisclosed.

Several companies, including Intel, have already invested significantly in Vietnam. Intel operates a $1.5 billion chip assembly, packaging, and testing facility in southern Vietnam, with plans for expansion. Similarly, Amkor is constructing a cutting-edge semiconductor assembly and testing mega factory near Hanoi, as announced by Treasury Secretary Janet Yellen in July. Chip design firm Marvell has also expressed intentions to establish a world-class center in Vietnam.

Vietnam's growth in chip manufacturing is expected to focus on assembly and design, although a shortage of engineers could pose challenges. The country also aspires to develop its chipmaking factories, with GlobalFoundries specializing in integrated circuit production for various applications, including smartphones and automobiles.

Furthermore, Vietnam's government has engaged in discussions with major chip companies like Intel, Samsung, and Qualcomm to seek advice on establishing the country's first fab.

In addition to semiconductors, the upgrade of formal ties with Vietnam could foster collaboration in artificial intelligence (AI). Google, a global AI leader, stands to play a pivotal role in this endeavor. Vingroup, Vietnam's largest conglomerate and parent company of Nasdaq-listed electric car maker VinFast, has a dedicated AI unit.

Lastly, the report suggests that Boeing may announce a deal involving the sale of 50 of its 737 MAX jets during this gathering.

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