Global tech giants eye investment in Vietnam: PM at WEF

By Hoai Thu   June 25, 2024 | 08:55 pm PT
Global tech giants eye investment in Vietnam: PM at WEF
Prime Minister Pham Minh Chinh (L) speaks to Sebastian Buckup, director of World Economic Forum Networks and Partnerships, at the World Economic Forum in China on June 25, 2024. Photo by Doan Bac
Global tech giants like Google, Apple and Nvidia want to invest in Vietnam in electronics and semiconductors, Prime Minister Pham Minh Chinh has said.

They are exploring investment opportunities in the country, he said at a meeting with executives from startups at the World Economic Forum in China on June 25.

His government has made policy changes to promote innovation, entrepreneurship and digital and green development strategies, especially in high-value segments such as big data, cloud computing, artificial intelligence, and semiconductors, he said.

Vietnam is also developing infrastructure, including digital, transportation, educational, and healthcare, and improving its human resources, he said.

"Vietnam aims to use public investment to drive private investment and mobilize all available resources to promote innovation and entrepreneurship".

He acknowledged that foreign startups are a driving force in promoting innovation, transferring technology and knowledge, fostering innovation, and promoting transnational cooperation.

Vietnam welcomes and encourages foreign businesses to invest in all sectors in a green, clean and sustainable manner, he said.

Referring to concerns about data security, he told the gathering that Vietnam has established regulations on information protection and adopted a number of solutions to ensure cybersecurity.

Sebastian Buckup, a member of the WEF executive committee and director of WEF Networks and Partnerships, said after nearly 40 years of reforms Vietnam's economy has seen remarkable development driven by innovation.

Chinh is attending the 15th annual World Economic Forum and working session in China from June 24 to 27, at the invitation of Chinese Premier Li Qiang and WEF founder and executive chairman Klaus Schwab.

This year's event, with the theme "New Horizons of Growth," has brought together 1,600 delegates to seek growth drivers and new industries in the context of artificial intelligence driving development in all sectors.

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