The Chief Executive Officer of Nvidia Corp. Jensen Huang considers Vietnam as a potential second home for the company he heads and plans to open a legal entity in the Southeast Asian country.

The specified information was published by the Vietnamese media. Mr. Huang on Monday, December 11, during a speech at the Hanoi Conference on Semiconductors and Artificial Intelligence, said that his company would open a design center in the mentioned country. Currently, there is no detailed information about this facility.

Nvidia has already invested about $250 million in its operations in Vietnam. These data were published by the media with reference to statements made during Jensen Huang’s meeting with the Prime Minister of the Southeast Asian country Pham Minh Chinh.

The visit of the head of Nvidia to Vietnam comes at a time when the government of this country is striving to strengthen economic and diplomatic relations with the United States. The mentioned company, which is currently the world’s largest manufacturer of microcircuits for artificial intelligence systems, can assist the Southeast Asian country in creating a national semiconductor ecosystem.

The United States Department of State announced in September a partnership with Vietnam under the Chips Act, which provides benefits worth $500 million over five years. These funds will be used to ensure the security of the supply chain of microcircuits.

John Neuffer, President of the U.S. Semiconductor Industry Association, and representatives of some American companies visited Vietnam before Jensen Huang’s visit and held meetings with Pham Minh Chinh.

The Southeast Asian country media reports that the head of Nvidia has declared his willingness to cooperate with this state to improve the local artificial intelligence infrastructure and increase the level of competence of the workforce. Currently, there are many computer scientists in Vietnam. Jensen Huang stated that this country is a world leader in the software export sphere. He says that 1 million engineers specializing in developments in the artificial intelligence industry may appear in Vietnam.

The Southeast Asian country has already become a place where world-class technology giants operate. For example, Intel, a California-based manufacturer of semiconductor elements and devices, operates a chip assembly and testing plant located in Ho Chi Minh City. Amkor Technology from Arizona is currently building a factory in the northern Vietnamese province of Bac Ninh. The cost of this project is $1.6 billion. Amkor Technology specializes in semiconductor product packaging and test services providing.

Synopsis, a California-based electronic design automation company that develops and verifies silicon components, ensures silicon intellectual property and its protection and improves software quality, is building a chip design center in Vietnam. The same facility in the Southeast Asian country is being built by Marvell Technology. This Delaware-based company develops and manufactures semiconductors and related technologies.

In recent years, about 50 companies that specialize in chip development have started their activities in Vietnam. Currently, the country is seeking to scale up the production of microcircuits amid tensions between China and the United States. Against the background of the current geopolitical situation, many large technology companies are seeking to diversify production facilities within the borders of Southeast Asia. Fearing restrictions and sanctions against Beijing from Washington, firms are interested in establishing the making of their products outside China.

Vietnam’s Minister of Planning and Investment, Nguyen Chi Dung, said on December 11 that the country was committed to creating favorable conditions for Nvidia. He suggested the company, headed by Jensen Huang, intensify research activities in the Southeast Asian country and implement projects in the sphere of semiconductors and artificial intelligence. Separately, the Minister noted the opportunity to build research centers and laboratories at the National Innovation Center.

Nguyen Chi Dung also expressed hope that Nvidia will facilitate the conditions for internships and work in the company for Vietnam’s engineers. Separately, he noted that the chip manufacturer could take part in the process of creating incubators for technology firms in the Southeast Asian country. The minister recommended Nvidia work with local companies to create a supportive ecosystem for the semiconductor industry and artificial intelligence in Southeast Asia.

FPT, Vingroup, the parent company of the electric car manufacturer VinFast, and the state-owned Viettel announced that they would hold a meeting with the head of Nvidia on December 11, but did not talk about the issues planned for discussion.

A document released by the White House in September on the occasion of improved diplomatic relations with Vietnam contained information that the firm, headed by Jensen Huang, is already working with technology brands from the Southeast Asian country to introduce artificial intelligence in the cloud sphere, automaking, and medical industry.

As we have reported earlier, Nvidia to Help Build Out AI Ecosystem in Japan.