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The Southeast Asian electronics manufacturing hub already hosts U.S. giant Intel's (INTC.O) largest semiconductor packaging and testing plant worldwide and is home to several chip designing software firms. It is working on a strategy to attract more semiconductor investment, including from foundries, which focus on manufacturing chips. Meetings with half a dozen U.S. chip firms took place in recent weeks, including with fab operators, Vu Tu Thanh, head of the Vietnam office of the US-ASEAN Business Council, told Reuters. He declined to identify the firms because talks were still at a preliminary stage. John Neuffer, President of the U.S. Semiconductor Industry Association, at the same conference recommended the government focus on chip sectors where Vietnam was already strong, such as assembling, packaging and testing.

Persons: Florence Lo, PSMC, Tu Thanh, Joe Biden, GlobalFoundries, Hung Nguyen, Viettel, Robert Li, John Neuffer, Francesco Guarascio @fraguarascio, Khanh Vu, Fanny Potkin, Lincoln Organizations: REUTERS, Hanoi, U.S, ASEAN Business Council, Reuters, GlobalFoundries, Industry, Hanoi's University Vietnam, BET, Vietnam Semiconductor, European Union, U.S . Semiconductor Industry Association, Reuters Graphics Reuters, Thomson Locations: Vietnam, HANOI, U.S, Hanoi, China, South Korea, Singapore

The United States imported nearly $127.5 billion in goods from Vietnam in 2022, compared with $101.9 billion in 2021 and $79.6 billion in 2020, according to US government data. The United States needs a trusted partner for its supply of chips, and Vietnam can do just that, Osius said. But that compares favorably with a global growth forecast of 3%, and is noticeably faster many of the world’s major economies, such as the United States, China and the eurozone. Politically, Vietnam shares many similarities to China in that it is an authoritarian one-party state that tolerates little dissent. Vietnam is an obvious choice, because it’s a cheap alternative to manufacturing in China, said García-Herrero.

Persons: Joe Biden, ”, Donald Trump’s, Nguyen Phu Trong, Biden, Antony Blinken, Evan Vucci, ” Ted Osius, Janet Yellen, Michael Every, Alicia García, Osius, chipmaker, Ho, “ We’re, Natixis, ” Osius, “, — CNN’s Kyle Feldscher, Jeremy Diamond, Kevin Liptak Organizations: Hong Kong CNN, America, Apple, Intel, House, Communist Party of, ASEAN Business Council, CNN, United, Atlantic Council, Rabobank, White House, United State, Monetary Fund, “, Netflix, Boeing Locations: Hong Kong, Vietnam, Washington, Hanoi, China, Asia, India, Communist Party of Vietnam, United States, Hanoi Nguyen Huy Kham, United, Beijing, The California, Ho Chi Minh City, Asia underwhelms

Fearful of the potential reaction from its much larger neighbour, Vietnam had initially expressed caution about the upgrade. Yet it is unclear what Vietnam, which is at odds with China over boundaries in the South China Sea, stands to gain in the short term from the upgrade. Meanwhile, Vietnam is talking with several other countries to upgrade and expand its mostly Russian-made arsenal, and has recently engaged in multiple high-level defence meetings with top Russian officials. The U.S. may offer more, said Vu Tu Thanh, head of the Vietnam office of the US-ASEAN Business Council. The upgrade of relations is expected to boost U.S. firms' plans in Vietnam.

Persons: Joe Biden, Biden, Xi Jinping, Li Qiang, Hong Hiep, Singapore's, – Yusof, Hiep, Thanh, Francesco Guarascio, Trevor Hunnicutt, Khanh Vu, Lincoln Organizations: Manutronics, REUTERS, Rights, United, Washington, ASEAN Business Council, Energy, Boeing, AES, Thomson Locations: Bac Ninh province, Vietnam, Rights HANOI, Hanoi, China, Washington, Russia, Beijing, South China, U.S, Washington's, Thanh

The boost to formal ties could bring billions of dollars of new private investment and some public funds to Vietnam's semiconductor industry. But industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry. There's also a risk of inadequate supply of trained chips software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam. The White House has not specified which segments of the chips industry in Vietnam will be prioritised, but U.S. industry executives have indicated that the back-end is a key growth sector. More private investment could come, especially if a significant share of the $500 million available under the U.S. CHIPS Act for global semiconductor supply chains ends up in Vietnam.

Persons: Joe Biden, Kevin Lamarque, Biden, Thanh, There's, Hung Nguyen, CHINA'S, Amkor, Janet Yellen, Hung, Francesco Guarascio, Steve Holland, Trevor Hunnicutt, Khanh Vu, Phuong, Muralikumar Organizations: U.S . Army, White, REUTERS, Companies, ASEAN Business Council, RMIT University Vietnam, Boston Consulting Group, Reuters, Intel, U.S . Treasury, Marvell, Thomson Locations: Vietnam, Washington , U.S, Hanoi, Washington, Vietnam Vietnam, HANOI, U.S, China, United States, Taiwan, Beijing, The U.S, Malaysia, India, Europe, Phuong Nguyen

☆ Explainer: Cambodia's new leader Hun Manet, strongman or reformer?
▼ + stars: | 2023-08-22 | by ( Martin Petty | ) www.reuters.com time to read: +5 min

Hun Manet, nominee for Cambodia's prime minister, gestures as he registers at the National Assembly on the day that parliament votes to confirm the country's next prime minister, in Phnom Penh, Cambodia, August 22, 2023. The eldest of Hun Sen's five children, Hun Manet was born in 1977 in rural Cambodia. Hun Manet is married to Pich Chanmony, the daughter of a prominent Cambodian politician and has three children. In late 2021, Hun Sen declared Hun Manet his anointed successor and he was later endorsed by the CPP as "future prime minister". WHAT KIND OF LEADER WILL HUN MANET BE?

Persons: Hun Manet, Cindy Liu, Hun Sen, Will Hun Manet, Hun Sen's, Manet, Pich Chanmony, HUN MANET, Michael Perry Organizations: National Assembly, REUTERS, New York University, Britain's Bristol University, Cambodian People's Party, CPP, U.S ., ASEAN Business Council, Reuters, Thomson Locations: Phnom Penh, Cambodia, Cambodian, United States, Britain, China, U.S, New York

Sources said Biden's schedule for Asia is not official until it has been announced and could change. One senior diplomat referred to Indonesia having scheduled the ASEAN summits, which are normally held in November, for September, specifically to make is possible for Biden to attend and then go on to the G20. Sources said Biden was expected to send Vice President Kamala Harris in his place. Policy analysts said another no-show by Biden, who attended ASEAN meetings in Cambodia in November, would call that characterization into question. "Southeast Asia has been impressed that Washington under Biden has stepped up engagement with the region," Hiebert said.

Persons: Joe Biden, Jonathan Ernst WASHINGTON, Biden, we'll, Kamala Harris, Harris, Jonathan, Murray Hiebert, Hiebert, Ted Osius, Donald Trump, Barack Obama, David Brunnstrom, Simon Lewis, Michael Martina, Stanley Widianto, Grant McCool Organizations: REUTERS, Reuters, Association of Southeast Asian Nations, ASEAN, White, White House, Biden, U.S ., Southeast, Washington's Center, Strategic, International Studies, ASEAN Business Council, Democrat, Republican, Thomson Locations: Tusayan , Arizona, U.S, JAKARTA, Jakarta, India, Vietnam, Indonesia, Washington, Asia, American, Papua New Guinea, Australia, ASEAN, Cambodia, Southeast Asia, East Asia

REUTERS/Mike Blake/File PhotoWASHINGTON, Aug 3 (Reuters) - The United States should extend electric vehicle tax credit benefits to Vietnam if it wants to encourage a landmark investment from the country in U.S.-based manufacturing, the head of the main U.S. business lobby for Southeast Asia said. Rules included in the U.S. Inflation Reduction Act (IRA) aimed at reducing U.S. dependence on Chinese EV battery supply chains currently only benefit countries that have free trade agreements with Washington - a list that excludes Vietnam. VinFast responded to President Joe Biden's call for electric vehicles to be manufactured in the United States, Osius told Reuters in an interview on Thursday, "Now they will have some asks. They will want to be part of the EV supply chain and they won't want to be discriminated against in favor of other EV producers." The United States signed a deal in March with Japan on critical minerals that ensures Japanese cars will benefit from the tax credit.

Persons: Mike Blake, Ted Osius, VinFast, Joe Biden's, Osius, EVs, Biden, Donald Trump, David Brunnstrom, Simon Lewis, David Shepardson, Don Durfee, Diane Craft Organizations: Los Angeles Auto, REUTERS, EV, Washington, VinFast, U.S, U.S ., ASEAN Business Council, Reuters, United, EU, Economic, Thomson Locations: Los Angeles , California, U.S, United States, Vietnam, Southeast Asia, North Carolina, Japan, Britain, New Delhi, China, Washington, Indonesia, Asia, Pacific

[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. "We hope to host (Hun Manet). Osius said the U.S. approach to Cambodia had been "punitive" and Washington should look for opportunities for dialogue. "Better for (Hun Manet) if there if he's got some strategic options, and that could mean improving ties with us," he said. Cambodia's Washington embassy did not immediately respond to a request for comment.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Ted Osius, he’s, he's, Osius, Hun, Simon Lewis, David Brunnstrom, Marguerita Choy Organizations: REUTERS, Southeast Asia, Reuters, Cambodian People's Party, U.S ., ASEAN Business, General Assembly, Beijing, U.S . State Department, Thomson Locations: Phnom Penh, Cambodia, Washington, New York, Southeast, U.S, Vietnam, United States, China, Ream, UNGA

☆ US Treasury's Yellen sees Vietnam as key partner in 'friendshoring' supply chains
▼ + stars: | 2023-07-21 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - The United States sees Vietnam as a key partner in expanding green energy sources and building more resilient supply chains, U.S. Treasury Secretary Janet Yellen said in a speech to be delivered in the country's capital of Hanoi on Friday. Yellen's visit is part of a push by the United States to upgrade its formal ties with Vietnam as it works to reduce dependence on Chinese supply chains by expanding manufacturing at home and boosting trade with trusted partners. But its efforts have met some resistance in Hanoi, over what experts see as concerns that China could view the move as hostile. The United States and Vietnam normalized relations in 1995, two decades after the end of the Vietnam War, and signed a bilateral trade agreement five years later. She underscored that Washington's "friendshoring" drive was not meant for "an exclusive club of countries.

Persons: Janet Yellen, Yellen, Washington, Andrea Shalal, Jamie Freed Organizations: Treasury, U.S ., ASEAN Business Council, Intel, Initiative, The, Vietnam's, Thomson Locations: United States, Vietnam, U.S, Hanoi, Asia, Washington, China, Arizona, Saigon, The United States

☆ U.S.-ASEAN Business Council on U.S. investment in Southeast Asia
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailASEAN is the 'single largest' destination for U.S. investment in Asia: U.S.-ASEAN Business CouncilTed Osius, president and CEO of the U.S.-ASEAN Business Council, discusses the Indo-Pacific Economic Framework and says the U.S. private sector is "investing more in Southeast Asia than in China, Japan, India and Korea combined."

Persons: ASEAN Business Council Ted Osius Organizations: ASEAN, ASEAN Business Council, U.S ., U.S Locations: Asia, U.S, Southeast Asia, China, Japan, India, Korea

☆ US-ASEAN Business Council 'biggest' mission to Vietnam joined by companies including Netflix and Boeing
▼ + stars: | 2023-03-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Senior executives from 52 US firms are taking part in the biggest business mission ever organized by the US-ASEAN Business Council, the trade lobby told CNN. The trip, held annually and currently led by former US Ambassador to Vietnam Ted Osius, began Tuesday and runs to Thursday. The council did not specify who was attending, but corporate heavyweights Boeing (BA) and Netflix (NFLX) confirmed they had joined the delegation. The discussions “will focus on Boeing’s growing partnership with Vietnam and ways to strengthen the country’s aviation and defense capabilities,” it added. Netflix’s streaming service is available to viewers in Vietnam, though it does not have a direct presence there.

☆ SpaceX, Netflix, Boeing to join "biggest-ever" US business mission to Vietnam
▼ + stars: | 2023-03-17 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

HANOI, March 17 (Reuters) - SpaceX, Netflix and Boeing are among the companies joining the "biggest-ever" U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organiser said. More than 50 companies, including defence, pharmaceutical and tech firms, will participate in the mission organised by the US-ASEAN Business Council, an industry body, according to a list seen by Reuters. "This is the biggest-ever mission in Vietnam," said Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, noting that the body had been organising these events for three decades. The majority of the companies joining the business mission already have a business or manufacturing presence in Vietnam, including Apple (AAPL.O), Coca-Cola (KO.N) and PepsiCo (PEP.O), Thanh said, with some planning to expand it. Among them is SpaceX, which is looking to sell its satellite internet services to Vietnam and other countries in the region, Thanh said.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones -sources
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

A source who was present at the weapons discussions said they involved the Ministry of Public Security and Ministry of National Defence. A second person familiar with the matter said talks on drones and helicopters began before the arms fair and have involved more weapons. The U.S. embassy in Hanoi declined to comment, but Ambassador Marc Knapper has said the U.S. stood ready to discuss any military item Vietnam might want to acquire. Sources and analysts said Vietnam is also considering deals with suppliers from Israel, India, and European and Northeast Asian countries. In the last decade, Israel has been the second-biggest seller of weapons to Vietnam after Russia.

☆ Exclusive: U.S. defence companies in talks to sell Vietnam helicopters, drones
▼ + stars: | 2022-12-15 | by ( Francesco Guarascio | ) www.reuters.com time to read: +4 min

☆ Southeast Asia leaders kick off ASEAN summit in Cambodia
▼ + stars: | 2022-11-11 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Cambodia, this year's chair for the Association of Southeast Asian Nations (ASEAN), is hosting the weekend summit in Phnom Penh — the group's first in-person meeting since the Covid pandemic. Leaders from the U.S., China, South Korea and Japan will also be meeting ASEAN leaders in Phnom Penh. "Looking to the future, ASEAN needs to strongly promote the values that have made ASEAN successful over the past five decades. The ASEAN nations want more trading partners, the more, the better," he told CNBC's "Street Signs Asia" on Thursday. The Treaty of Amity and Cooperation in Southeast Asia is a peace treaty among Southeast Asian countries established in 1976.watch now

☆ ASEAN wants to continue picking up the pace of trade with the U.S., says former U.S. ambassador
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailASEAN wants to continue picking up the pace of trade with the U.S., says former U.S. ambassadorTed Osius, U.S. ambassador to Vietnam from 2014 to 2017, and current president of the US-ASEAN Business Council, says four ASEAN countries are already in the United States' top 20 global trade partners.

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