Marvell CEO Matt Murphy Joins President Joseph Biden and U.S. Business Delegation on Trade Meetings with Vietnam

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Marvell Technology CEO participated in a roundtable discussion in Hanoi to strengthen trade ties between the US and Vietnam. Marvell plans to increase its Vietnamese workforce by 50% over the next three years and expand its physical footprint in the country. The company is focused on high-speed data center optical connectivity, storage, and analog mixed signal semiconductor technology.

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• Marvell plans to increase its Vietnamese workforce by 50% over the next three years and expand its physical footprint in the country

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SANTA CLARA, Calif., Sept. 11, 2023 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced that its Chairman and Chief Executive Officer, Matt Murphy, participated in a roundtable discussion in Hanoi between U.S. and Vietnamese government and business leaders aimed at further strengthening trade and business ties between the two countries. The U.S.-Vietnam Innovation and Investment Summit led by U.S. Secretary of State Antony Blinken and Vietnam Minister for Planning and Investment Nguyen Chi Dung, also included President Joseph Biden and Vietnam Prime Minister Pham Minh Chinh. Marvell was one of a small number of semiconductor industry members invited to participate in the meeting.

From its inception 10 years ago, Marvell's Vietnam location has grown to be a key strategic R&D center for the company. Marvell also expanded on its plans, first unveiled in May 2023, to further increase its semiconductor design and engineering activities in the country. Marvell said during the visit that it is committed to increasing its Vietnamese workforce by 50% over the next three years and is also in the process of expanding its physical footprint in the country – with a new facility to be operational by the end of 2024. Marvell additionally said it was increasing its internship and university relations programs and would double funding for the Marvell Excellence Scholarship program to support talented students pursuing degrees in engineering and computer science at selected universities in Vietnam.

During the event in May, Dr. Loi Nguyen, Executive Vice President of Marvell's Optical Group and a native of Ho Chi Minh City, publicly unveiled the company's plans for its world-class design center in Ho Chi Minh City. Marvell's work in Vietnam is primarily focused on high-speed data center optical connectivity, storage, and analog mixed signal semiconductor technology. For more information, read here.

"We applaud the U.S. and Vietnamese governments for their focused efforts in making global innovation a priority and for putting semiconductors at the forefront of those discussions," said Murphy. "Engineering talent is one of the major challenges facing the industry. To succeed, we need to invest worldwide. Vietnam is growing as a center of semiconductor innovation. With our design center and scholarship program, we are committed to growing high-value semiconductor jobs in the country that will further help Marvell pursue its mission of optimizing the world's data infrastructure."

About Marvell
To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better.

Marvell and the M logo are trademarks of Marvell or its affiliates. Please visit www.marvell.com for a complete list of Marvell trademarks. Other names and brands may be claimed as the property of others.

This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events or achievements. Actual events or results may differ materially from those contemplated in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and no person assumes any obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, contact:
Stacey Keegan, Vice President of Corporate Marketing
pr@marvell.com

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SOURCE Marvell