Business

Vietnam encourages TCL to transfer technology, support local enterprises

Deputy PM Nguyen Chi Dung encouraged TCL to transfer suitable technologies and production processes to qualified Vietnamese partners, thereby fostering closer linkages and mutual support between TCL and local enterprises.

Deputy Prime Minister Nguyen Chi Dung receives the TCL Group delegation led by CEO Wang Cheng in Hanoi on October 14. (Photo: VNA)
Deputy Prime Minister Nguyen Chi Dung receives the TCL Group delegation led by CEO Wang Cheng in Hanoi on October 14. (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Nguyen Chi Dung received TCL Group CEO Wang Cheng in Hanoi on October 14, calling on the Chinese firm to expand technology transfer and strengthen cooperation with Vietnamese partners.

The host underlined that Vietnam prioritises selective foreign investment attraction, focusing on quality, efficiency, technology, and environmental protection as key evaluation criteria.

He expressed his wish to promote cooperation with China in fields such as electronic component manufacturing, supporting industries, and medical equipment production, areas in which TCL has extensive experience.

The Deputy PM praised TCL’s business performance globally and in Vietnam, affirming that the Comprehensive Strategic Cooperative Partnership between Vietnam and China has been developing strongly across all fields. Economic, trade, and investment cooperation continues to be an important pillar of the two countries’ relations.

To strengthen human resources training for TCL’s projects in Vietnam, Dung suggested that the group work closely with the Ministry of Education and Training and the People’s Committees of relevant localities to connect with universities, vocational institutions, and Vietnamese enterprises to implement training programmes for its current and future projects.

He also encouraged TCL to transfer suitable technologies and production processes to qualified Vietnamese partners, thereby fostering closer linkages and mutual support between TCL and local enterprises.

The Vietnamese Government is committed to creating favourable conditions for foreign investors, including those from China, to conduct efficient and sustainable business and investment activities in Vietnam, the official noted.

Wang Cheng said TCL currently operates four manufacturing facilities in Ho Chi Minh City and the northern province of Quang Ninh, with total cumulative investment capital of 310 million USD, expected to increase to 590 million USD by 2027.

Its projects in Vietnam, particularly those producing LCD panels and modules, have helped attract upstream supply-chain supporting industries to the country. In 2024, TCL Vietnam achieved revenue of 1.22 billion USD, up 11.9%, and production value of 1.35 billion USD, up 14.6%.

Founded in 1981, TCL is one of China’s leading technology corporations, specialising in the production of electronic components, equipment, and products. In 2024, the group reported total revenue of about 43.4 billion USD, with 130,000 employees, 43 R&D centres, and 32 manufacturing facilities operating across 160 countries./.

VNA
#Deputy Prime Minister Nguyen Chi Dung #TCL Group #technology transfer #China #TCL Group CEO #Wang Cheng China Vietnam
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