Vietnam - U.S. Strategic Cooperation On AI And Semiconductors: Ministry Of Finance Promotes Investment With Intel, Meta

Highlighting Vietnam – U.S. strategic cooperation, a delegation from Vietnam’s Ministry of Finance undertook an important business trip to the United States for the SelectUSA 2025 Summit, holding strategic working sessions with two leading global technology corporations: Meta and Intel. The key objective was to strengthen extensive cooperation in spearhead sectors such as artificial intelligence (AI) and the semiconductor industry, thereby contributing to promoting high-tech development and moving towards balanced trade between the two countries..

This business trip affirms the strong commitment of the Vietnamese Government in developing high technology and attracting foreign investment, especially from strategic partners like the United States.

Promoting Strategic Cooperation With Intel: Positioning Vietnam As A Core Technology Hub

On May 13, local time (U.S.), the delegation from the Ministry of Finance, led by Deputy Minister Cao Anh Tuan, had a working session with Ms. Sarah Kemp – Vice President of Government Affairs at Intel Corporation. The discussion took place as part of the side activities of the “SelectUSA 2025” U.S. Investment Summit, highlighting Vietnam – U.S. strategic cooperation, where Vietnam participated as a leading strategic partner in the Southeast Asian region.

Deputy Minister Cao Anh Tuan highlighted the special attention and strong commitment of the Vietnamese Government to the U.S. market, demonstrated by the large delegation comprising over 130 members from more than 100 businesses attending Select USA 2025. Vietnam views the United States not only as an economic partner but also as a global center for technological development and innovation.

Highly appreciating Intel’s pioneering and sustainable role in Vietnam for nearly two decades, Deputy Minister Cao Anh Tuan emphasized that the Intel Products Vietnam (IPV) factory is currently the Group’s largest global assembly and test facility for semiconductors. IPV has contributed over 90 billion USD to Vietnam’s export turnover since 2010 and handles the testing of over 50% of Intel’s global chip volume, laying a solid foundation for Vietnam’s deep participation in the global value chain of semiconductor technology.

The Ministry of Finance leaders also recognized Intel’s effective collaboration with the National Innovation Center (NIC) in implementing high-quality human resource training programs such as “AI for All” and “AI for Public Sector.” These programs have contributed to training over 10,000 personnel for Vietnam and supported the development of e-government and the application of artificial intelligence in public administration.

Regarding the orientation for human resource development for the semiconductor and AI industries, Deputy Minister Cao Anh Tuấn shared about the Prime Minister of Vietnam’s Decision 1017/QD-TTg, approving the Program “Developing Human Resources for the Semiconductor Industry until 2030, with Orientation to 2050.” This program aims to train at least 50,000 personnel with university degrees or higher to serve the semiconductor industry. Therefore, Vietnam hopes that Intel will actively participate in curriculum design, provide scholarships, academic materials, and support practical training for students in Vietnam.

Towards the end of 2024, the Government issued Decree 182/2024/ND-CP establishing the Investment Support Fund, which supports enterprises investing in AI, high technology, and semiconductor technology. The Deputy Minister proposed that Intel research the mechanisms and preferential policies under Decree 182/2024/ND-CP to establish a research and development (R&D) center in Vietnam, particularly in Hoa Lac Hi-Tech Park, aiming to build Intel’s core technology center in Asia right in Vietnam.

“We hope that Intel will coordinate closely with the Ministry of Finance and its relevant agencies to effectively promote the implementation of these contents in the coming time,” Deputy Minister Cao Anh Tuấn stressed.

From Intel’s side, Ms. Sarah Kemp – Vice President of Government Affairs, highly appreciated the timely actions of the Vietnamese Government in handling recent trade issues, including the flexible response to the United States’ reciprocal tax policies. According to Ms. Sarah Kemp, the proactive and respectful approach from Vietnamese ministries and agencies, including the Ministry of Finance, is a key factor for Intel to continue investing long-term in Vietnam.

Furthermore, Ms. Kemp emphasized that Vietnam has created a stable, reliable investment environment with clear policies and special incentives for high-tech enterprises since 2006. “This is a solid foundation for Intel to set the goal of developing its core technology center in Asia right here in Vietnam in the near future,” the Intel representative affirmed.

Dialogue With Meta: Building An Innovation Ecosystem And Digital Infrastructure For The Future Of Ai In Vietnam

Also on May 13, at Meta DC headquarters, the Ministry of Finance delegation had a working session with Ms. Molly Montgomery – Head of Public Policy for the U.S. Market, along with representatives from Meta’s specialized departments. The discussion focused on orientations for cooperation regarding the AI ecosystem, open data, digital infrastructure, and Meta’s commercial presence in Vietnam.

Ms. Montgomery affirmed that Meta considers Vietnam a strategic market, which is becoming increasingly important in the context of global supply chain shifts. She highlighted the ongoing cooperation between Meta, NIC, and the “AI for Vietnam” organization in building an open-source Vietnamese dataset – a key factor for the development of specific AI models.

Notably, Ms. Molly Montgomery highly appreciated Vietnam’s stable and flexible approach in handling tax-related issues of the U.S. Government. According to her, Vietnam’s positive responses have built strong confidence for multinational corporations like Meta in expanding investment, reflecting the strength of Vietnam – U.S. strategic cooperation. She also pointed out that in a global context facing many uncertainties, maintaining policy consistency is a prerequisite for international enterprises to maintain their presence and develop long-term in Vietnam, while proposing to enhance cooperation channels between the governments of the two countries and between Meta and Vietnamese authorities.

From Vietnam’s side, Mr. Vo Xuan Hoai – Deputy Director of the National Innovation Center (NIC), shared that the Vietnamese Government is boosting investment in AI infrastructure, promoting human resource training, and issuing appropriate institutional frameworks to facilitate the development of new technologies.

Mr. Đang Ngoc Minh – Deputy Director General of the Tax Department (Ministry of Finance), requested Meta to supplement documents related to the proposal for applying the Double Taxation Agreement between Vietnam and Ireland. Furthermore, Mr. Minh emphasized the importance of establishing a formal commercial presence for Meta in the Vietnamese market to facilitate policy connectivity and strengthen high-tech investment.

Ms. Dao Thanh Huong – Deputy Director General of the Foreign Investment Agency (Ministry of Finance), stated that thanks to Vietnam – U.S. strategic cooperation and its stable and open investment environment, Vietnam is an attractive destination for a series of large corporations from the United States such as Intel, Apple, etc. Therefore, Ms. Huong proposed that Meta should soon establish a legal entity in Vietnam to be convenient for research, investment, and expanding strategic cooperation in areas such as digital technology, open data, and virtual reality.

Concluding the working session, Ms. Molly Montgomery noted all proposals from the Vietnamese side, affirming that Meta will study them in detail and respond in the near future, opening up possibilities for increasingly deep and extensive Vietnam – U.S. Strategic Cooperation with Vietnamese agencies.