Ho Chi Minh City and California strengthen cooperation in high-tech, semiconductors and AI

Vice Chairman Bui Xuan Cuong presents a commemorative gift to State Treasurer Fiona Ma. (Photo: hcmcpv.org.vn)

He made the statement on November 18 when he welcomed a delegation from California, U.S., led by State Treasurer Fiona Ma, during their visit to Vietnam. 

During the meeting, Vice Chairman Bui Xuan Cuong expressed his pleasure at the composition of the delegation, which included not only representatives from California’s government but also members of the House of Representatives and the Senate, industry associations, businesses and environmental organizations. He highlighted the delegation’s interest in promoting economic, technological and environmental partnerships with Ho Chi Minh City.

Mr. Cuong emphasized the city’s role as a pioneer in fostering U.S.-Vietnam cooperation across multiple sectors. As of the third quarter of 2024, trade turnover between Ho Chi Minh City and the U.S. exceeded USD6 billion, accounting for nearly 8% of Vietnam-U.S. bilateral trade during the same period.

He suggested the two sides increase cooperation in sharing experiences in policymaking and managing emerging technologies between Ho Chi Minh City and California; advancing cooperation in semiconductors, AI and environmental technologies; connecting research centers, universities and businesses from both sides to share expertise, train human resources and implement joint projects; encouraging U.S. technology companies to invest in and expand their operations in Ho Chi Minh City; and organizing activities to connect with the Vietnamese community in California, particularly young professionals and intellectuals, to contribute to the city’s socio-economic development.

State Treasurer Fiona Ma, on her first visit to Vietnam, expressed admiration for the Vietnamese people and the country’s natural beauty, noting that this visit opens up significant opportunities for mutually beneficial cooperation.

She praised the existing collaboration between San Francisco and Ho Chi Minh City and emphasized California’s standing as the largest and most populous state in the U.S., with a GDP exceeding USD4 trillion, representing 14.7% of the U.S. GDP. California is home to over 700,000 Vietnamese-Americans and more than 150 universities, which she highlighted as key assets for fostering collaboration in areas such as education, artificial intelligence, biotechnology and pharmaceuticals./.