Key facts
- Vietnam is seeking to become a regional innovation hub by upgrading its technology sector.
- President To Lam asked Qualcomm CEO Cristiano Amon to increase investment in AI, semiconductors, robotics, and connectivity.
- Qualcomm plans to develop its presence in Vietnam into its third-largest AI research and development hub globally.
- Prime Minister Le Minh Hung encouraged Samsung Electronics CEO Roh Tae-moon to remain a key partner in technological development.
- Samsung has invested $24 billion in Vietnam and its mobile phone exports from the country total $500 billion.
Vietnamese leaders have urged U.S. chip designer Qualcomm and South Korea's Samsung Electronics to expand their investments in artificial intelligence, semiconductors, and research and development as the country aims to become a regional innovation hub.
During a meeting with Qualcomm CEO Cristiano Amon, Vietnamese President To Lam requested increased investment in AI, semiconductors, robotics, 5G/6G, data centers, and next-generation connectivity technologies. Lam stated Vietnam is shifting towards a growth model driven by science, technology, innovation, digital transformation, and AI, welcoming further investment.
Amon indicated Qualcomm's intention to develop its presence in Vietnam into the company's third-largest artificial intelligence research and development hub globally. Qualcomm already operates an R&D center in Hanoi and has collaborated with Vietnamese firms like Viettel and VinSmart.
Separately, Prime Minister Le Minh Hung met with Samsung Electronics CEO Roh Tae-moon, emphasizing Vietnam's desire for Samsung to remain a key partner in strengthening the country's technological capabilities, developing its industrial base, and integrating deeper into global value chains. Hung praised Samsung's contributions to Vietnam's industrial development and exports, noting Vietnam is one of Samsung's most important global manufacturing hubs.
Samsung's mobile phone manufacturing entities in Vietnam have achieved total exports of $500 billion since production began 17 years ago. The company has invested $24 billion in Vietnam to date. Roh stated Samsung plans additional investment and training in Vietnam and is working with the government to facilitate deeper participation of local firms in its global supply chain.