A ceremony was organised in Hà Nội on September 11 by the National Innovation Center (NIC), in collaboration with the US Department of State, the US Embassy in Vietnam and Arizona State University to announce the establishment of the US International Technology Security and Innovation (ITSI) Fund in Vietnam. The event also marked the launch of the 'Development of Semiconductor Workforce by 2030' project.

Educational institutions involved in the initiative will begin implementing new international standard training programmes on semiconductor assembly and testing.

This milestone is seen as a significant step forward for Vietnam, both in strengthening its position in the semiconductor industry and in developing a robust workforce and public policy framework. Speaking at the event, Minister of Planning and Investment Nguyễn Chí Dũng emphasised that, over time, Vietnam could consolidate its global standing in the semiconductor supply chain and make semiconductors a key pillar of its cooperation with the US.

The Vietnamese Government and Ministry of Planning and Investment are committed to supporting and facilitating US technology companies’ investments and innovation efforts in Vietnam.

US Ambassador to Vietnam Marc Knapper highlighted the importance of the initiative: “The US is proud to partner with Vietnam in sustainable development programmes through high-quality workforce training. We believe Vietnam and the US can build a thriving semiconductor industry for many years to come.”

US Ambassador to Vietnam Marc Knapper spoke at the ceremony.

Virginia Kent, ITSI Senior Coordinator, emphasised the importance of collaboration in high-tech fields.

These cooperative efforts align with Vietnam’s long-term goals of positioning itself as a leader in technology and innovation. By nurturing talent and improving policy frameworks, Vietnam aims to attract more significant partners and contribute to the global semiconductor ecosystem.

Vietnam is one of eight strategic countries selected for this initiative, along with Costa Rica, Mexico, Panama, Indonesia, the Philippines, Kenya and India. The US Department of State has awarded Arizona State University US$13.8 million to drive talent development and provide public policy recommendations in these nations.

Established under the U.S. CHIPS Act of 2022, the ITSI Fund is designed to enhance semiconductor capabilities and bolster the resilience of the global semiconductor supply chain.