Vietnam showcased its potential as a rising technology powerhouse during a discussion titled “High-Tech Investment in Vietnam: Taking Off in the Smart Era,” held on Tuesday alongside the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland.
The event, co-organised by the Ministry of Planning and Investment, the Ministry of Foreign Affairs, FPT Corporation, and VinaCapital, brought together Vietnamese officials, technology leaders, and representatives from global tech giants such as Google, Schneider Electric, Qualcomm, and Ericsson.
Truong Gia Binh, Chairman and CEO of FPT Corporation, emphasised Vietnam’s shift from a management-focused approach to one focused on enablement, highlighting the country’s goal of achieving double-digit growth.
He underscored the pivotal role of science, technology, and innovation, particularly in AI, digital transformation, semiconductors, and big data, as key drivers of this ambition.
With an annual technology sector revenue of $2 billion and a tech workforce of one million, Vietnam seeks collaboration with global partners to advance together in the smart era, Vietnam Plus reports.
In response to investors' concerns, Minister of Planning and Investment Nguyen Chi Dung outlined Vietnam's ongoing reforms to improve its investment climate, aiming to make the country a safer, more effective, and competitive destination. He highlighted the shift to post-inspection mechanisms, which have significantly reduced project approval times from 2-3 years.
In addition, he shared plans to adjust foreign investment ratios in key sectors such as airports and seaports to attract more infrastructure capital.
Moreover, on behalf of the Prime Minister, Nguyen Van Nen, Secretary of the Ho Chi Minh City Party Committee, highlighted Vietnam’s recognition of high-tech development as crucial for enhancing economic competitiveness and modernisation.
He underlined the country's increasing appeal to international investors, citing the presence of major tech companies like Samsung, Intel, Nvidia, Google, and Meta, alongside the rapid rise of domestic tech giants such as Viettel, VNPT, and FPT.
Nguyen Van Nen also noted that Vietnam's appeal to high-tech investors is driven by its political stability, sustainable economic growth, skilled workforce, improving infrastructure, and dynamic industry ecosystem.
He added that as the government shifts towards a science and technology-centred growth model, it is prioritising selective investments in high-tech projects, including semiconductors, AI, research and development, renewable energy, and green hydrogen.
Furthermore, the Secretary of the Ho Chi Minh City Party Committee expressed hope that businesses will continue to partner with the government and Vietnamese counterparts to explore new investment opportunities in areas where both sides have strengths and potential.