VIỆT NAM SEEKS TO DRAW MORE FDI INFLOWS INTO SEMICONDUCTORS, AI

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.

An Phát Complex Industrial Zone in Hải Dương Province. Despite global investment challenges, foreign investment in Việt Nam remains on an upward trend. — VNA/VNS Photo Tuấn Anh

HÀ NỘI — 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. He urged Qualcomm to continue advancing groundbreaking AI research in Việt Nam and strengthen cooperation with the Việt Nam National Innovation Centre (NIC) to help develop the country’s AI workforce.

Qualcomm’s R&D centre project was also highlighted by Minister of Finance Nguyễn Văn Thắng as a bright spot in foreign investment attraction in the first five months of the year. In a report to the National Assembly ahead of the Q&A session related finance at the 15th legislature’s 9th session, Thắng noted that Việt Nam attracted over US$18.4 billion in registered FDI during this period, up 66.2 per cent year-on-year.

More importantly, foreign investment is increasingly being steered toward key sectors such as processing, manufacturing, digital transformation, and artificial intelligence, he said.

Many major companies from the US and the European Union (EU) are pouring more investment and building supply chains in Việt Nam, he stressed, noting that this reflects Việt Nam’s growing importance in global supply chains.

Beyond the R&D centre project, Qualcomm has other plans in Việt Nam. At a meeting with Party General Secretary Tô Lâm, Alex Rogers, head of Global Affairs at Qualcomm, affirmed that the company will continue to invest in Việt Nam, particularly by nurturing Vietnamese talents to contribute to global AI development, thereby supporting Việt Nam’s development and strengthening Việt Nam–US relations.

AI and semiconductors are key sectors Việt Nam is prioritising to attract investment, aiming to foster new growth drivers and pursue double-digit economic growth in the coming period.

Attracting FDI for development

Chip embedding system at Korean - invested Bumjim Electronics Vina in Quảng Ninh Province. AI and semiconductors are key sectors Việt Nam is prioritising to attract investment. — VNA/VNS Photo Hoàng Hiếu

Despite global investment challenges, foreign investment in Việt Nam remains on an upward trend, with large-scale projects are also making a comeback.

In its report on foreign investment attraction during the January–May period, the Foreign Investment Agency under the Ministry of Finance highlighted several large-scale projects that have newly registered, and existing ones expanded their investments in Việt Nam.

The past five months marked the return of many large-scale real estate projects, totaling $4.99 billion — double the amount recorded in the same period last year. This surge shows the strong appeal of the Vietnamese market. These developments also align with a recent assessment by Savills Vietnam, which pointed to growing opportunities to attract investment from the global ultra-wealthy.

Việt Nam boasts opportunities to attract the global ultra-wealthy, thanks to its strategic location in Southeast Asia, rapid economic growth, stunning natural landscapes, and a significantly improving living environment, and ample room for real estate investment growth, according to Matthew Powell, director of Savills Hanoi.

Insiders said that attracting FDI into real estate is a positive driver for both the market and the broader economy. However, for Việt Nam’s economy to accelerate more robustly in the coming period, the key lies in processing and manufacturing projects, especially those in cutting-edge industries such as semiconductors and AI.

In a report to the National Assembly, Thắng underscored the importance of mobilising foreign investment resources for development, while outlining both traditional and emerging growth drivers to support the goal of achieving over 8 per cent economic growth this year.

He said that it is essential to promptly identify and address bottlenecks and recommendations related to major FDI projects; leverage task forces to provide close support and expedite investment procedures for these projects in order to speed up their implementation.

Thắng also underlined the need to develop effective mechanisms for selectively attracting FDI and tapping into indirect investment flows and international investment funds, including providing direct financial support or infrastructure for high-potential sectors to create breakthroughs and new motivations for growth. He stressed the importance to create the best possible conditions and encourage enterprises to conduct R&D activities or engage in technology transfer in Việt Nam.

To attract FDI and foster new growth drivers, a draft resolution on developing an international financial centre has recently been submitted to the NA. Once completed, the centre is expected to not only strengthen Việt Nam’s integration into the global financial market but also attract foreign financial institutions and capitalise on shifting flows of international investment capital. — VNS

Source: VNS