US President Joe Biden earlier today met with top executives from both US and Vietnamese firms in the tech, semiconductor, and aviation sectors to foster business partnerships.

Highlighting a desire to increase Vietnam’s global role and to reduce chip manufacturing exposure to Chinese-linked risks, companies including Microsoft, Nvidia, Marvell, and Amkor have made significant investment commitments.

A new US$1.6 billion factory of US semiconductor firm Amkor Technology is due to start operations in October, located near Hanoi.