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Vietnam, U.S. explore cooperation in semiconductor and rare earths

The Saigon Times

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HCMC – The U.S. has expressed interest in cooperating with Vietnam in renewable energy and semiconductor chip production.

Jose W. Fernandez, Under Secretary for Economic Growth, Energy and the Environment at the U.S. Department of State, conveyed this message during a luncheon hosted by AmCham in HCMC yesterday, January 24.

Fernandez is on a three-country Asia tour, which takes in Vietnam, the Philippines and South Korea, from January 22 to February 1, with Vietnam as his first destination.

Speaking with the U.S. business community in HCMC, he emphasized growing economic ties between the U.S. and Vietnam, saying President Joe Biden’s state visit to Vietnam in September 2023 and the upgrade of the bilateral relationship to a comprehensive strategic partnership.

During his visit, Fernandez focuses on promoting trade opportunities, expanding renewable energy cooperation, enhancing supply chain partnerships, and strengthening economic cooperation. He noted Vietnam’s potential in microchip assembly, testing, and packaging, and discussed cooperation to bolster the global microchip ecosystem and address human resource development challenges.

Regarding renewable energy cooperation, Fernandez mentioned the Clean Energy Demand Initiative Secretariat (CEDI) which was launched several years ago at the 2021 United Nations Climate Change Conference (COP26).

Fernandez also stressed the importance of diversifying the rare earths supply chain while maintaining environmental sustainability.

In 2022, two-way trade between Vietnam and the U.S. amounted to US$138 billion, and Vietnam is now the eighth-largest trade partner of the United States.

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