In the future, Vietnam will continue to become an attractive and promising investment destination in the technology sector.
International press reported last week that many large foreign enterprises are planning to make new investments or expand production and business in Vietnam, especially corporations and companies in the technology sector.
Nikkei Asia news site has an article saying that billionaire Elon Musk’s SpaceX corporation plans to invest 1.5 billion USD in Vietnam in the near future, including deploying the Starlink internet satellite service.
Another tech giant, Meta, will also expand its investment in artificial intelligence (AI) innovation in Vietnam, including the production of mixed reality devices from 2025, according to the Economic Times. Nick Clegg, Meta’s President of Global External Relations, recently visited Vietnam to share Meta’s vision and cooperation and investment plans in Vietnam. Accordingly, Meta will soon begin testing Meta AI in Vietnam and will fully launch Business AI services for Messenger by the end of this year.
The technology sector continues to prove to be a huge investment attraction. According to the Investment Monitor news site, Samsung will invest 1.8 billion USD in a factory in Vietnam to produce OLED screens for cars and technology devices, bringing the group’s total investment in Vietnam to 22.4 billion USD.
Mr. Jonathan Pincus – Chief Economist, United Nations Development Program (UNDP) in Vietnam – said: “Foreign direct investment (FDI) is flourishing, leading to strong prospects for Vietnam’s export momentum in the context of improved external demand and loosening of monetary policies of countries. This will be a very important factor governing Vietnam’s industrial production and investment in the coming time” .
Vietnam aims to attract FDI to fund the development of artificial intelligence and big data, the Business Times reported. The article emphasized that Vietnam is seeking to establish itself as a global hub for advanced technology. It pledged to attract foreign investment by cutting logistics costs and improving infrastructure.
Mr. Raymond Mallon – Australian economist – said: “The shift in production to higher value products is very important. If the semiconductor industry can be further developed, this will play an important role in increasing Vietnam’s domestic value.”
Regarding Vietnam’s future growth, the news site Vietnam Briefing quoted the International Monetary Fund’s Executive Board as saying that the outlook is positive. The article emphasized that Vietnam’s economy is forecast to recover this year thanks to strong external demand, stable foreign direct investment (FDI) and the Government’s adaptive policies.