Vietnamese and US Firms Forge Partnerships in Energy, AI, and Data Centers
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Vietnamese, US firms sign MoUs on energy, AI, data centre: Vietnam govt
Vietnamese and US firms have signed memorandums of understanding (MoUs) to cooperate in energy, artificial intelligence and a data centre, the Vietnamese government said on Tuesday. The MoUs were signed at a business forum in the United States, the government said in a statement. Click here to connect with us on WhatsApp The MoUs include one on energy technology transfer signed by Vietnam's state-oil firm PetroVietnam and Kellogg Brown & Root, LNG cooperation between PetroVietnam's unit PTSC and Excelerate Energy, and AI and data centre development between Sovico Group and Supermicro. Vietnam's Vietjet said it signed a $1.1-billion cooperation agreement with Honeywell Aerospace Technologies. The US company will provide avionics and aviation technical services for Vietjet's aircraft fleet, the budget airline said. The forum was also attended by Vietnamese president To Lam, who is scheduled to meet US President Joe Biden on Wednesday on the sidelines of the United Nations General Assembly in New York. More From This Section Trump threatens John Deere with 200% tariffs if production moves to Mexico Nippon Steel's Mori asks United Steelworkers leadership to come to table 500 dead in Lebanon attack: UN warns of 'next Gaza'; What is Israel's plan? Situation tense around Kursk plant, no permanent mission planned: IAEA head John rapidly strengthens into Category 3 hurricane off Mexico's coast Lam said the two countries had plenty of room to cooperate and Vietnam hoped the US will become its largest source of foreign investment. Lam said he expected the US government to soon recognise Vietnam as a market economy, according to the statement. The US Commerce Department said last month it would continue to classify Vietnam as a non-market economy. If Vietnam applies again, it will take US regulators months to come to a decision. Vietnam has long sought an upgrade, which would reduce punitive anti-dumping duties levied on non-market economies identified as having a heavy state influence. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Also Read PM Modi meets Vietnam's President To Lam, discusses ways to bolster ties Samsung invests $1.8 bn more in Vietnam for OLED manufacturing plant Vietnam aims for one semiconductor fab plant, 10 packaging plants by 2030 Vietnam's Communist Party chief Lam to meet Google, Meta in US next week Inside US push to steer Vietnam's subsea cable plans away from China
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Vietnam, US firms sign MoUs on energy, AI, data centre - govt
HANOI, Sept 24 (Reuters) - Vietnamese and U.S. firms have signed memorandums of understanding (MoUs) to cooperate in energy, AI and a data centre, the Vietnamese government said Tuesday. The MoUs were signed at a business forum in the United States, the government said in a statement. The MoUs include one on energy technology transfer signed by Vietnam's state oil firm PetroVietnam and Kellogg Brown & Root, LNG cooperation between PetroVietnam's unit PTSC and Excelerate Energy, and AI and data centre development between Sovico Group and Supermicro. Advertisement · Scroll to continue The forum was also attended by Vietnamese president To Lam, who is scheduled to meet U.S. President Joe Biden on Wednesday on the sidelines of the United Nations General Assembly in New York. Reporting by Khanh Vu; Editing by John Mair Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Vietnam, US firms sign MoUs on energy, AI, data centre
The MoUs include one on energy technology transfer signed by Vietnam's state oil firm PetroVietnam and Kellogg Brown & Root, LNG cooperation between PetroVietnam's unit PTSC and Excelerate Energy, and AI and data centre development between Sovico Group and Supermicro.Vietnamese and US firms have signed memorandums of understanding (MoUs) to cooperate in energy, AI and a data centre, the Vietnamese government said Tuesday. The MoUs were signed at a business forum in the United States, the government said in a statement. The MoUs include one on energy technology transfer signed by Vietnam's state oil firm PetroVietnam and Kellogg Brown & Root, LNG cooperation between PetroVietnam's unit PTSC and Excelerate Energy, and AI and data centre development between Sovico Group and Supermicro. The forum was also attended by Vietnamese president To Lam, who is scheduled to meet U.S. President Joe Biden on Wednesday on the sidelines of the United Nations General Assembly in New York.
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Vietnam, US Firms Sign MoUs on Energy, AI, Data Centre - Govt
HANOI (Reuters) - Vietnamese and U.S. firms have signed memorandums of understanding (MoUs) to cooperate in energy, AI and a data centre, the Vietnamese government said Tuesday. The MoUs were signed at a business forum in the United States, the government said in a statement. The MoUs include one on energy technology transfer signed by Vietnam's state oil firm PetroVietnam and Kellogg Brown & Root, LNG cooperation between PetroVietnam's unit PTSC and Excelerate Energy, and AI and data centre development between Sovico Group and Supermicro. The forum was also attended by Vietnamese president To Lam, who is scheduled to meet U.S. President Joe Biden on Wednesday on the sidelines of the United Nations General Assembly in New York.
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Vietnamese and US companies have signed Memorandums of Understanding (MoUs) for collaboration in energy, artificial intelligence, and data center projects. These agreements, valued at billions of dollars, aim to strengthen economic ties between the two nations.
Strategic Partnerships Formed
Vietnamese and US companies have taken a significant step towards strengthening economic ties by signing several Memorandums of Understanding (MoUs) in key technological and energy sectors. These agreements, announced by the Vietnamese government, focus on collaborations in energy, artificial intelligence (AI), and data center projects
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.Energy Sector Agreements
In the energy sector, Vietnam's state oil firm PetroVietnam Power Corp and General Electric's GE Vernova have inked an MoU for the development of a 1,500-megawatt (MW) natural gas power plant
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. This project is estimated to be worth approximately $1.8 billion, signaling a substantial investment in Vietnam's energy infrastructure.AI and Data Center Initiatives
The tech giant Nvidia has entered into partnerships with Vietnamese tech firms FPT, Viettel, and Vingroup for various AI-related projects
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. These collaborations aim to leverage Nvidia's expertise in AI technologies to enhance the capabilities of Vietnamese companies in this rapidly evolving field.In addition to AI, the agreements also cover data center development. US-based data center firm Digital Realty has partnered with Vietnamese telecoms firm Viettel to explore opportunities in this sector
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. This collaboration is expected to contribute to the growth of Vietnam's digital infrastructure.Related Stories
Economic Impact and Future Prospects
The total value of these MoUs is estimated to be in the billions of dollars, although exact figures for all projects have not been disclosed. These partnerships are expected to play a crucial role in Vietnam's economic development, particularly in high-tech sectors.
The signing of these agreements coincides with the 10th anniversary of the US-Vietnam comprehensive partnership. This timing underscores the growing economic ties between the two countries and highlights Vietnam's increasing importance as a strategic partner for US businesses in Southeast Asia.
Government Support and Expectations
Vietnam's government has expressed strong support for these collaborations, viewing them as key drivers for the country's technological advancement and economic growth. The partnerships are expected to facilitate knowledge transfer, create job opportunities, and enhance Vietnam's competitiveness in global markets.
As these projects move forward, they are likely to attract further international investment and potentially position Vietnam as a regional hub for AI, data centers, and advanced energy solutions. The success of these initiatives could serve as a model for future collaborations between Vietnamese and international firms in high-tech sectors.
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