Business News

Global tech giant Qualcomm has just launched an Artificial Intelligence (AI) Research & Development (R&D) centre in Việt Nam, which is expected to help position Việt Nam as a leading AI R&D hub in the region and the world. Deputy Minister of Finance Lê Tấn Cận called this event a “significant milestone” that marks a new phase of cooperation between Qualcomm and Việt Nam in the field of AI.

The National Assembly passed the Law on Digital Technology Industry at its ongoing 9th sitting held in Ha Noi on Saturday. With this move, Viet Nam has become the first country in the world to enact a standalone law specifically dedicated to digital technology industry, according to the Ministry of Science and Technology whish is responsible for drafting the law.

The Ministry of Science and Technology (MoST) announced a list on June 4 of 21 key strategic development plans on sci-tech, innovation, digital transformation to create opportunities for digital technology enterprises to take part in. Decision No.1144/QD-BKHCN aims to enhance national competitiveness, boost digital transformation, innovation and develop advanced technologies.

AI companies and startups are accelerating their market expansion in Vietnam by leveraging disruptive technology and fostering new growth initiatives. In late April, AnyMind Group announced the acquisition of Vietnamese social and live commerce agency Vibula. As an AI-native company, the acquisition of Vibula enhances AnyMind’s capability to deliver AI-powered live-commerce solutions customised for the Vietnamese market.

State budget revenues have soared since last year, thanks in part to a focus on digital technology. The Ministry of Finance (MoF) last week reported updated figures in budget state revenue for 2024. Total revenue reached $81.75 billion, up by $13.7 billion or 20 per cent over the initial estimate, and by $6.82 billion or 8.4 per cent as compared to the sum earlier reported to the National Assembly (NA).

Bà Rịa-Vũng Tàu Province is attracting high-tech and environmentally friendly industrial projects, with a focus on enhancing productivity, product quality, and sustainability. It is committed to selecting investments that feature clean technologies, low labour intensity and high added value. This approach has led to the establishment of several advanced industrial facilities, including the Hòa Phát Container Manufacturing Plant in Phú Mỹ City.

Deputy Prime Minister Nguyễn Chí Dũng has signed a decision to officially establish the Bình Dương Centralised IT Zone, covering 15.47 hectares within the Bình Dương Industrial – Service – Urban Complex in Hòa Phú Ward, Thủ Dầu Một City. The zone, which will operate in accordance with Decree 154/2013/NĐ-CP, including such key functions as IT infrastructure development, support for research and development, training and the production of software, digital content and IT services.

Vietnam’s prioritised semiconductor and high technology industries are on the radar of foreign investors, especially those from Japan and South Korea. Meiko Electronics, an Apple supplier, is preparing procedures for its expanded printed circuit board (PCB) manufacturing facility in the northern province of Hoa Binh. The company aims to complete the procedures for the expansion in the second quarter and finish the construction of the expanded facility by the end of the year.