On the morning of January 26, 2024, Jose W. Fernandez, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment, held a discussion with lecturers and students at National Economics University (NEU) during his working visit to Vietnam as part of his January 22–February 1 tour of Asia.

A view of U.S. Under Secretary of State Jose W. Fernandez’s discussion with NEU students

Welcoming the ambassador on behalf of NEU were Prof. Dr. Pham Hong Chuong, President of NEU; Assoc. Prof. Dr. Nguyen Thanh Hieu, Vice President of NEU; representatives of the leadership of departments, faculties, institutes, and centers; faculty and staff; and a large number of the University’s students.

According to the U.S. Department of State, Under Secretary for Economic Growth, Energy, and the Environment Jose Fernandez’s tour of three Asian countries aimed to strengthen economic cooperation with key allies and partners in the Indo-Pacific region. NEU was honored to be among the destinations U.S. Under Secretary of State Jose W. Fernandez selected for a visit and discussion during this tour.

In Vietnam, Under Secretary Fernandez will focus on expanding trade opportunities, advancing clean energy, fostering cooperation on supply chains and semiconductor chips, and strengthening economic cooperation with Vietnam following President Joe Biden’s visit in September 2023 and the two countries’ upgrade of their relationship to a comprehensive strategic partnership.

Speaking with NEU students, Fernandez said Vietnam has great potential for renewable energy because of its long coastline and many hours of sunshine. If it can capitalize on these advantages, Vietnam can attract foreign investors as the world moves toward zero-emission production.

Jose W. Fernandez, U.S. Under Secretary of State for Economic Growth, Energy, and the Environment

For Vietnam, this would achieve two goals at once, as “some companies have told us that they have promised their shareholders and customers that they will manufacture semiconductor chips using clean energy,” the U.S. Under Secretary said.

Semiconductors are also a priority area of cooperation between Vietnam and the United States. The U.S. Government has pledged to support Vietnam in developing its workforce in this industry, including a commitment to provide an initial seed grant of USD 2 million, according to the September 2023 Joint Statement. As a first step in this cooperation, “we will ask the OECD to study what needs to be done to create an ecosystem in Vietnam that will supply the talent needed by companies seeking to manufacture semiconductor chips in Vietnam,” Fernandez said.

Under Secretary Fernandez said that once the study’s findings are available, which is expected next month, the United States will work with Vietnam to put the study’s recommendations into practice.

Meanwhile, the U.S. Under Secretary of State emphasized that Vietnam needs to swiftly realize its enormous potential in the semiconductor sector. According to Jose Fernandez, the United States will continue to support Vietnam in developing its semiconductor ecosystem, including cooperation on workforce training and trade promotion, while also advancing cooperation on the clean energy transition and critical minerals. The U.S. Under Secretary of State also said that about 15 U.S. companies are seeking to invest approximately USD 8 billion in Vietnam’s clean energy sector immediately, and called on Vietnam to continue resolving issues related to legal procedures.

U.S. Under Secretary of State Jose W. Fernandez speaks with NEU lecturers and students

In his remarks, U.S. Under Secretary Fernandez also emphasized the importance of diversifying rare earth supply chains while maintaining environmental sustainability.

According to the Under Secretary, growing trade between the two countries demonstrates their increasingly strong relationship. In 2022, bilateral trade between Vietnam and the United States exceeded USD 138 billion, and Vietnam currently ranks as the United States’ eighth-largest trading partner. The business communities of both countries have played a crucial role in this development. “Over more than 30 years, U.S. companies have invested billions of dollars in total in Vietnam and are regarded as influential ambassadors, bringing not only technology but also corporate governance and high-quality employment opportunities. You can be proud of that,” Jose W. Fernandez said.

Some photos from the discussion at NEU with U.S. Under Secretary of State Jose W. Fernandez:

Article and photos: Department of Communications

This is an automated translation. If you notice any errors, please contact the Department of Communications, National Economics University at phongtruyenthong@neu.edu.vn.