Davos (VNA) – Vietnam highlighted its potential to become a technology powerhouse during a discussion entitled “high-tech investment in Vietnam: taking off in the smart era” held on January 21 (local time) on the sidelines of the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland.
The event, jointly organised by the Ministry of Planning and Investment, the Ministry of Foreign Affairs, FPT Corporation, and VinaCapital, drew the participation of Vietnamese officials and technology group leaders as well as representatives from international tech giants like Google, Schneider Electric, Qualcomm and Ericsson.
Chairman and CEO of FPT Corporation Truong Gia Binh laid stress on Vietnam’s shifting approach from management to enablement while emphasising the nation’s target to achieve double-digit growth, with science-technology and innovation, particularly AI, digital transformation, semiconductor, and big data, being important motives.
With an annual technology sector revenue of 2 billion USD and a one-million-strong tech workforce, Vietnam hopes for collaboration with partners to take off together in the smart era.
Representatives from Google, Schneider Electric, and A.P. Moller Capital expressed their confidence in the country’s potential to become ASEAN’s technology hub. They cited Vietnam’s strategic location and comprehensive development opportunities beyond technology, including infrastructure, logistics and healthcare. Besides, they underscored the need for continued institutional reforms and more attractive investment incentives.
Responding to investors' concerns, Minister of Planning and Investment Nguyen Chi Dung detailed Vietnam's investment climate reform to become a safe, effective and competitive destination, highlighting the shift to post-inspection mechanisms that help reduce project approval times from 2-3 years. He also revealed plans to adjust foreign investment ratios in priority sectors such as airports and seaports, to attract infrastructure capital.
The minister further announced progress on the establishment of an international financial centre in Ho Chi Minh City and a regional one in Da Nang city, expressing his hope that partners will contribute their expertise and share experience in the development of the facilities in Ho Chi Minh City and Da Nang, inviting international partners to contribute expertise in policy development.
Speaking on behalf of the Prime Minister, Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen underscored Vietnam's recognition of high-tech development as a key to economic competitiveness and modernisation. He pointed to the country's growing attraction for international investors, evidenced by the presence of major tech corporations like Samsung, Intel, Nvidia, Google, and Meta, alongside the rapid growth of domestic tech giants such as Viettel, VNPT, and FPT.
Vietnam's appeal to high-tech investors stems from its political stability, sustainable economic growth, quality workforce, improving infrastructure, and dynamic industry ecosystem, he said, adding as the Government is working towards a science-tech centered growth model, it is prioritising selective investment in high-tech projects, semiconductors, AI, research and development, renewable energy, and green hydrogen.
Nen affirmed that the Vietnamese Government pledges support for the investors to develop high-tech sectors through incentives regarding investment and high-quality human sources, highlighting the principle of shared benefits, shared risks and the promise that commitments made are commitments kept”.
He said he hopes that enterprises will continue accompanying the Government and Vietnamese peers to unlock new investment opportunities in the areas of the two sides’ strength and potential./.
