Press conference on the activities of the Vietnamese Business Association abroad – Photo: VGP / Hoang Hanh
This information is shared by Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Vietnamese Business Association abroad at the press conference on the activities of the Vietnamese Business Association abroad held on March 16 in Ho Chi Minh City.
Identified as an important link in the sustainable semiconductor industry supply chain, Vietnam is facing a great opportunity to become a regional chip manufacturing hub. Weaknesses in capital and human resources will be partly offset by investments in expertise and credit resources from 6 million overseas Vietnamese worldwide.
According to Mr. Nguyen Hong Hue, the number of young members (aged 30 to 45) in the Association is quite large, accounting for 61%. The strength of the young overseas Vietnamese entrepreneurs is their capacity to exploit and invest in high-tech and emerging sectors such as fintech, blockchain, and the use of technology like artificial intelligence (AI) in their activities.
Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Vietnamese Business Association abroad said that overseas Vietnamese entrepreneurs want to invest in Vietnam’s semiconductor industry – Photo: VGP / Hoang Hanh
In Silicon Valley (USA), there are about 50,000 Vietnamese people working in the technology sector, including a considerable number working in semiconductor fabrication. At companies around the world, Vietnamese people participate in all stages of the semiconductor production chain, from chip design research to semiconductor material research. In recent years, many Vietnamese engineers have returned from abroad to work for FDI companies in the semiconductor field in Vietnam.
The member associations of the Vietnamese Business Association abroad themselves also have activities to support training and high-tech cooperation, including the semiconductor industry in Vietnam.
Dr. Ngo Pham Tran, Chairman of the Vietnamese Business Association – Taiwan said that in 2024, many Taiwanese companies will come to Vietnam to invest in training human resources for the electronics and semiconductor industries. Dr. Tran herself will advise, assist in linking high-tech Taiwanese corporations with educational institutions in Vietnam to directly train human resources in theory and practice.
The Vietnamese Business Association abroad was established under Decision No. 373 / QD-BNV dated March 13, 2009, by the Ministry of Internal Affairs.
During its operation, the Association and the Vietnamese Business Associations in other countries have organized or coordinated to organize and participate in conferences to promote investment and trade organized by the Ministry of Industry and Trade, the Ministry of Foreign Affairs, the Ministry of Agriculture and Rural Development and provinces and cities with a scale and practical effectiveness, attracting hundreds of overseas Vietnamese businesses and domestic enterprises to participate with cooperation memoranda worth hundreds of millions of USD.
In particular, the Association has chaired the organization of the Mekong Delta Business Connection Conference with potential overseas Vietnamese businesses in the United States with total cooperative agreements worth nearly 100 million USD.
The Vietnamese Business Associations in other countries have cooperated in establishing and developing a system of Promotion and Exhibition Centers to introduce and export Vietnamese goods, especially key agricultural products in South Korea (2019); in Taiwan (China), Japan, Laos, Russia (2020); in Australia (2021); in China (2022).
The 4th Congress, term 2023 – 2028 of the Vietnamese Business Association abroad was held at the end of January 2024. The Congress elected the Executive Committee of the Association with 43 members. Mr. Nguyen Hong Hue was elected as Chairman of the Association.
