Vietnam's pharmaceutical industry is entering a historic growth phase, aiming for a market size of USD 20 billion by 2026, yet it has attracted only a modest USD 1.8 billion in foreign direct investment (FDI) so far. This significant gap highlights a massive, untapped potential for pharmaceutical manufacturing. Global pharmaceutical giants like AstraZeneca, Sanofi, Roche, […]
Leaders of the renowned Huawei Group recently expressed their keen interest in fostering a digital ecosystem within Vietnam in addition to their desire to build digital infrastructure and accelerate industry digitalization and smart digital transformation in this country. During a meeting with Prime Minister Pham Minh Chinh on September 16, Huawei's representatives - including the President of the Asia-Pacific Region Simon Lin, the Chairman of China Transportation Construction Group Vuong Dong Tru and the Deputy General Director of China Energy Construction Group Ngo Van - discussed their ambitious plans to contribute to Vietnam's digital transformation and infrastructure development. Huawei's Vision for Vietnam's Digital Future.
Prime Minister Pham Minh Chinh highly appreciated the global business investment activities of these corporations and affirmed that the Vietnamese Government will continue to provide favorable conditions for foreign businesses to operate effectively, successfully and sustainably in Vietnam.
Huawei’s vision for Vietnam’s digital future
Mr. Simon Lin, President of the Asia Pacific Region of Huawei Technology Group, outlined Huawei's vision, which encompassed several key facets: building digital infrastructure, accelerating industry digitalization, reducing carbon emissions and boosting intelligent digital transformation in Vietnam. Most importantly, he expressed the desire to develop a digital talent ecosystem in the country.
Referring to the approval of the National Digital Transformation program until 2025, with a vision to 2030 of the Prime Minister, Mr. Simon Lin highlighted the efforts and strategies for digital transformation, building a digital government, society and economy in Vietnam.
Vietnam's support and incentives
Prime Minister Pham Minh Chinh warmly welcomed Huawei's proposals and expressed his support for the group's investment activities in Vietnam. He emphasized that the field of digital transformation presents immense opportunities for collaboration and growth. The Prime Minister also highlighted the importance of stability and cooperation in an era of constant technological advancement and fierce global competition. This includes investment and R&D activities, and improving modern management capacity. He asked Huawei Group to proactively coordinate with ministries, sectors and localities to seek new projects and investment opportunities.
Huawei's impact in Vietnam so far
Huawei's contributions to Vietnam's technology landscape have already been substantial. The company has collaborated with local telecommunications carriers to build and upgrade networks, including 2G, 3G, and 4G. Through these endeavors, Huawei has created thousands of jobs in the information and communications technology (ICT) sector and has trained over 18,000 Vietnamese digital professionals.
Interest in developing infrastructure in vietnam
Apart from Huawei, other Chinese corporations also showcased their commitment to Vietnam's development, considering this one of the most important markets. The China Transport Construction Group, led by Chairman Vuong Dong Tru, expressed interest in high-speed railway projects and various infrastructure initiatives within Vietnam. Notably, the group has already successfully executed over 20 projects, including bridges, roads, ports, and energy ventures across key cities and provinces.
Prime Minister Chinh welcomed the group's enthusiasm and encouraged foreign businesses, particularly Chinese enterprises, to expand their activities in Vietnam's transport and energy infrastructure sectors. This encompasses the construction of high-speed railways, expressways, airports, and seaports, signaling a promising era of growth and collaboration.
Energy China's green ambitions
Leaders from the China Energy Construction Group (Energy China) also presented their plans for business expansion in Vietnam. Their focus lies in the development of wind power projects in multiple provinces, including Ha Tinh, Ninh Thuan, and Quang Tri. Prime Minister Chinh expressed his appreciation for these proposals and urged Energy China to prioritize digital transformation, green initiatives, and infrastructure development in Vietnam. He emphasized that “investors’ success is also the country’s success” and promoted the spirit of “harmonious benefits, shared risks”.
Final thoughts
The recent discussions between Vietnamese leaders and Chinese corporations signify a crucial step toward enhancing Vietnam's digital landscape and infrastructure. These partnerships hold the potential to accelerate the nation's growth, stimulate the economy, and provide valuable opportunities for its workforce. As these initiatives unfold, Vietnam stands poised to embrace a promising era of technological innovation and sustainable development. Contact Viettonkin today if you are ready for your investment journey as a tech provider. Our team of experts will provide you with local intelligence and guide you through the process of investing into the dynamic market of Vietnam and other ASEAN countries.
Source: vietnamnet
