Holding a press conference on the activities of the Vietnamese Business Association abroad – Photo: VGP/Hoang Hanh
This is the information shared by Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Vietnamese Business Association abroad at a press conference on the activities of the Vietnamese Business Association abroad held on March 16th in Ho Chi Minh City.
Being identified as an important link in the sustainable supply chain of the semiconductor industry, Vietnam is facing a great opportunity to become a regional chip production hub. Weaknesses in capital and labor resources will be somewhat complemented by investing in knowledge and credit resources from 6 million Vietnamese diaspora all over the world.
According to Mr. Nguyen Hong Hue, the number of young members (aged 30 to 45) in the Association is very large, accounting for 61%. The strength of the young diaspora entrepreneurs is the ability to exploit and invest in high-tech and emerging sectors, such as fintech, blockchain, and the use of technologies like artificial intelligence (AI) in their activities.
Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Vietnamese Business Association abroad said that overseas 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 significant number involved in semiconductor chip manufacturing. In 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 to Vietnam to work for FDI companies in the semiconductor industry.
The member associations of the Vietnamese Business Association abroad also support activities related to training and high-tech cooperation, including the semiconductor industry in Vietnam.
Dr. Ngo Pham Tran, Chairman of the Vietnamese Business Association in Taiwan, said that in 2024, many Taiwanese companies will come to Vietnam to invest in training human resources for the electronics and semiconductor industry. Dr. Tran herself will advise and assist high-tech Taiwanese companies in partnering with educational institutions in Vietnam to directly train human resources, combining theory with practice.
The Vietnamese Business Association abroad was established under Decision No. 373/QD-BNV dated March 13, 2009, by the Ministry of Home Affairs.
During its operations, the Association and Vietnamese Business Associations in other countries have organized or coordinated the organization of investment promotion and trade conferences organized by the Ministry of Industry and Trade, the Ministry of Foreign Affairs, the Ministry of Agriculture and Rural Development, provinces, and cities, achieving practical results and attracting hundreds of overseas Vietnamese businesses and domestic businesses with cooperation agreements worth hundreds of millions of dollars.
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 cooperation agreements worth nearly 100 million USD.
Vietnamese Business Associations in other countries have cooperated in establishing and developing a system of Promotion and Exhibition Centers to introduce and export Vietnamese products, 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 Association’s Executive Board consisting of 43 members. Mr. Nguyen Hong Hue was elected as Chairman of the Association.
