Tech Giants: Starting from Bankrupt Companies

305: Chapter 305 Vietnam Breaks the Stalemate4:30 PM, the signing hall.

On the long table, three agreements were arranged neatly. Each was fifty pages thick, with the national emblem of Vietnam and the emblem of Xingchen embossed on the cover.

Vietnam-Xinghuo Chip Industry Cooperation Agreement》

Vietnam-Xingchen Automotive Industry Cooperation Agreement》

Vietnam-Xinghuo Consumer Electronics Cooperation Agreement》

Nguyen Van Cuong had already signed the agreements—as the preliminary negotiator, he had completed the confirmation at the technical level.

Now, it was the turn of the person who would truly sign.

Nguyen Xuan Phuc sat on one side of the long table, and Su Chen sat on the other.

Nguyen Xuan Phuc opened the first agreement and quickly browsed the key terms.

chip packaging and testing plant: Located in Hanoi, with a monthly capacity of 30,000 28nm chips. Total investment of $6.5 billion, with Xingchen contributing 30% and Vietnam 70%. Xinghuo would transfer mature technology and dispatch 200 engineers to train Vietnamese personnel.

Automobile factory: Located in Haiphong, with an annual output of 100,000 new energy vehicles. Total investment of $8 billion, with Xingchen contributing 35% and Vietnam 65%. The joint venture brand ’VinFast-Xingchen’ would target the ASEAN market.

Mobile phone assembly line: Located in Bac Ninh, with an annual output of 5 million units. Total investment of $3.5 billion, with Xingchen contributing 25% and Vietnam 75%. 60% would be exported to ASEAN, and 40% sold domestically in Vietnam.

Total amount: $18 billion.

Then came the most critical page.

Technology Protection Agreement

Vietnam promised that Xingchen’s technology and equipment would only be used for civilian purposes and must not be used for weapons research and manufacturing.

Without Xingchen’s written consent, technology or equipment must not be transferred to any third party.

Xingchen had the right to conduct a technical compliance audit every six months.

In case of breach, Xingchen had the right to terminate the cooperation and claim damages.

Nguyen Xuan Phuc’s pen hovered over the paper.

This was a concession of national sovereignty.

Allowing a foreign enterprise to audit one’s own factories and check if technology was being abused was unimaginable ten years ago.

But ten years later, for the sake of development, it had to be done.

He recalled Su Chen’s words just now: ’To be friends, one must always understand a friend’s preferences.’

Understanding also includes trust. And trust requires constraints.

The pen fell.

Nguyen Xuan Phuc

Su Chen also signed his name.

Su Chen

The two stood up and shook hands.

Flashes submerged the entire hall.

5:30 PM, joint press conference.

The press section was packed with people. Chinese media, Vietnamese media, international media—everyone knew this was no ordinary commercial signing.

A Vietnamese reporter raised their hand first, and after being given permission, stood up.

’Comrade Prime Minister, does the ’technical audit’ clause in the agreement mean that Xingchen can interfere in Vietnam’s internal affairs?’

Nguyen Xuan Phuc’s expression was calm.

’On the contrary. This is a unified requirement that Xingchen has for all partners. The purpose is to prevent technology from falling into the hands of third parties, especially for military purposes. This is not interfering in internal affairs; this is protecting intellectual property.’

He paused.

’Over the past thirty years, Vietnam has introduced countless foreign investments. How much technology has truly remained? Samsung’s factories are in Vietnam, but the core technology is still in South Korea. LG’s factories are in Vietnam, but engineers still have to be brought in from South Korea.’

’This time is different. Xinghuo is transferring the complete process, and Xingchen is sending a training team. In five years, our engineers will be able to operate, maintain, and upgrade independently.’

’The audit is to protect this technology so that it belongs only to Vietnam.’

A Chinese reporter raised their hand: ’Mr. Su, why choose Vietnam?’

Su Chen smiled.

’It’s not that we chose Vietnam; it’s that Vietnam chose us.’

He looked at Nguyen Xuan Phuc beside him.

’In the next three years, Vietnam will have its own chip industry, automotive industry, and mobile phone industry. This isn’t just selling products; this is exporting industrial capabilities.’

Nguyen Xuan Phuc added from the side: ’Vietnam’s goal is to become the industrial manufacturing center of ASEAN by 2030. Xingchen is our most important partner.’

7:00 PM, Su Chen’s private dining room.

The dining room was not large, with only one small table for six. Outside the window was the night view of Shenzhen Bay, with lights stretching to the horizon.

On the table were a few simple dishes: steamed coral trout, blanched shrimp, garlic vegetables, and a bowl of rice.

There was no caviar, no foie gras, no expensive red wine.

There were only six people: Su Chen, Nguyen Xuan Phuc, Lin Wan, Nguyen Van Cuong, and two interpreters.

Nguyen Xuan Phuc raised his glass.

’Mr. Su, this toast is to the future of Vietnam.’

Su Chen raised his glass.

’To cooperation, to trust.’

The two drank it in one gulp.

Nguyen Xuan Phuc put down his glass and suddenly became serious.

’Mr. Su, Vietnam is a small country. Being caught between major powers is difficult.’

Su Chen nodded.

’I know.’

’So I want to ask you a truthful question—what does Xingchen ultimately want to become? Is it a company, or a country?’

Su Chen was silent for three seconds.

’Neither.’

’Then what is it?’

’It’s an option.’ Su Chen put down his chopsticks. ’For the past thirty years, the choice of globalization was given by the United States—settle in dollars, use American technology, enter the American market. Whoever doesn’t listen gets sanctioned.’

He paused.

’What Xingchen wants to do is to give the world a second option. Not to replace the United States, but to let every country have the right to choose.’

Nguyen Xuan Phuc looked at him for a long time.

Then he nodded.

’Good. Vietnam will take this option.’

The two raised their glasses again.

Outside the window, the lights of Shenzhen Bay extended to the horizon.

Further away was the South China Sea, the direction of Vietnam.

9:00 AM the next day, Ho Chi Minh City Stock Exchange.

The moment the opening bell rang, everyone stared at the big screen.

The Vietnam Index opened significantly higher.

Up 5%.

In the trading hall, the investors were stunned for a second, then went crazy.

’What happened?!’

’You don’t know? Vietnam and Xingchen signed a deal! $18 billion!’

The index continued to soar.

6%.

7%.

8%.

The traders’ voices were hoarse: ’Can’t buy! Simply can’t buy!’

A middle-aged man in an old shirt stood in the center of the hall, watching the numbers on the screen, tears streaming down his face.

The person next to him asked what was wrong.

He said, ’I’ve been trapped for five years, and finally, I’m out.’

At the noon close, the Vietnam Index surged 8.3%, hitting the largest single-day gain since 2008.

The exchange staff had to temporarily close several trading windows—because the trading volume was too large, the system almost crashed.

1:00 PM, Bac Ninh Province, Samsung Vietnam factory.

Samsung Electronics Vietnam President Park Jung-ho sat in the conference room with a complicated expression.

Sitting in the conference room were over a dozen people—the production director, procurement director, financial director, and technical director, all of whom were Korean.

The document on the table was an emergency directive just sent from the Seoul headquarters.

’A call from headquarters.’ Park Jung-ho’s voice was a bit hoarse. ’Starting next month, the mobile phones produced by our Vietnam factory must gradually switch to using Xinghuo Chips.’

Someone asked, ’Why? We have always used Samsung’s own chips.’

Park Jung-ho smiled bitterly.

’Cost. Xinghuo 28nm chips are 30% cheaper than our own, and the performance is even better. Local procurement in Vietnam is tax-exempt, so it saves $15 per phone.’

’What about headquarters...’

’Headquarters is also doing the math.’ Park Jung-ho interrupted him. ’Our phones can’t outsell OPPO and vivo in ASEAN anymore; if we keep holding on, we’ll lose even the Vietnamese market.’

The conference room fell silent.

Park Jung-ho stood up and walked to the window.

Outside the window was the Samsung Vietnam factory complex. Twelve factory buildings, 80,000 workers, producing 120 million mobile phones annually—accounting for half of Samsung’s global output.

2:00 PM, Hanoi, the US Embassy in Vietnam.

Kritenbrink stood in front of his office window, looking at the streets of Hanoi.

The streets were bustling with traffic, just like yesterday. But everything was different.

The assistant knocked and entered.

’Mr. Ambassador, the press conference is in an hour. Should we...’

’Cancel it.’

The assistant was stunned.

’Cancel?’

Kritenbrink didn’t turn around.

’Tell the media I have an urgent matter.’

He paused and added, ’Send a message to Washington, just one sentence: Vietnam has turned. We need to re-evaluate our entire Southeast Asia strategy.’

The assistant stood there, not knowing what to say.

Kritenbrink finally turned around.

He looked at the assistant and smiled bitterly.

’You know, yesterday Nguyen Xuan Phuc asked me a question—’Can the United States give us 28nm chips?’’

The assistant didn’t speak.

’I couldn’t answer,’ Kritenbrink said, ’because the answer is no.’

He walked back to his desk and sat down.

’Thirty years. We have invested thirty years of diplomatic resources, economic aid, and military cooperation in Vietnam. And it was all overturned in one month by a company founded three years ago.’

He picked up the photo frame on the table, which contained a picture of him and Nguyen Xuan Phuc—taken two years ago when Nguyen Xuan Phuc visited Washington.

’I lost.’

He turned the photo frame face down on the table.

3:00 PM, the streets of Hanoi.

Vietnam Youth Newspaper front page headline: 《$18 Billion: Vietnam’s Choice》

In front of a newsstand, a young girl wearing an Ao Dai bought a newspaper and stood on the side of the road to read it.

She had just graduated from university this year, majoring in electronic engineering. She had been worried about not finding a job in her field.

Now, she knew the opportunity had come.

The old woman selling newspapers didn’t understand anything about chips or cars, but she knew one thing—

’The stocks went up today; my son-in-law said he can earn an extra two months’ salary.’

She counted the change with her rough hands, a smile on her face.

4:00 PM, Jakarta.

The Indonesian Coordinating Minister for Economic Affairs urgently summoned the Xingchen representative in Jakarta.

’When can we talk?’ he asked, getting straight to the point. ’The sooner, the better.’

4:30 PM, Bangkok.

The secretary to the Prime Minister of Thailand called Xingchen International.

’The Prime Minister asked me to convey: Thailand looks forward to comprehensive cooperation with Xingchen. We can talk at any time, in any place.’

5:00 PM, Manila.

A Philippine senator gave a speech in parliament.

’Don’t hesitate anymore! Vietnam is already ahead! What are we waiting for?’

His speech was edited into a short video and spread wildly on social media.

7:00 PM, Shenzhen, Xingchen Headquarters.

Lin Wan pushed open the door to Su Chen’s office.

Su Chen was still standing in front of the window, looking at the lights of Shenzhen.

Lin Wan began her report:

’Xingchen Pay added three more countries today—Vietnam, Laos, and Cambodia. The total is now twenty-six.’

’The daily transaction volume has exceeded $25 billion.’

’In addition, Indonesia, Thailand, and the Philippines have all sent formal invitations for visits. The President of Indonesia wants to come in person, and the sooner, the better.’

Su Chen didn’t turn around.

’This step by Vietnam has pierced the sky over Southeast Asia.’

Lin Wan walked to his side and looked out the window with him.

’What about the US side?’

’Still silent.’

Su Chen smiled.

’Silence is because they don’t know what to say.’

Outside the window, the lights of Shenzhen Bay extended to the horizon.

A new world order is accelerating in its formation.

And Vietnam has just cast its vote.