Vietnam's Leader Lam Meets US Corporations, Pledges to Boost Tech Economy

Vietnam's President To Lam recently met with top U.S. corporations in New York, emphasizing his commitment to enhancing the country's technology sector. This visit marks Lam's first official trip to the United States as president, where he aims to foster stronger economic ties and attract foreign investments, particularly in technology and innovation.

Key Takeaways

• President To Lam's first visit to the U.S. as Vietnam's leader.
• Meetings with major companies including Meta, Apple, and financial firms.
• Focus on boosting Vietnam's tech economy and digital transformation.
• Cooperation agreements signed in energy, AI, and data centers.

Strengthening Economic Ties

During his visit, Lam engaged in discussions with several prominent U.S. companies, including Meta, Apple, and investment firms like Blackstone and Warburg Pincus. These meetings are part of Vietnam's broader strategy to attract foreign investment and enhance its technological capabilities.

Lam's discussions with Meta's President for Global Affairs, Nick Clegg, highlighted plans for the production of virtual reality glasses in Vietnam. This initiative is expected to contribute significantly to the local tech landscape, given Meta's substantial user base in the country.

Focus on Digital Transformation

Lam articulated a vision for Vietnam's digital transformation, identifying it as a key driver for the nation's future. He stated, "Developing the semiconductor and AI industries is a strategic choice and a priority." This focus aligns with global trends in technology and positions Vietnam as a competitive player in the tech economy.

Cooperation Agreements Signed

At a business forum during his visit, Lam signed several cooperation agreements with U.S. firms. These agreements cover various sectors, including:

• Energy: Collaborations aimed at sustainable energy solutions.
• Artificial Intelligence: Initiatives to enhance AI capabilities in Vietnam.
• Data Centers: Development of infrastructure to support digital growth.

Participants in the forum included representatives from major companies such as Amazon, Visa, Procter & Gamble, and AES, all of which are keen to explore opportunities in Vietnam's burgeoning market.

Future Prospects

The meetings and agreements signify a strong commitment from both Vietnam and U.S. corporations to foster innovation and economic growth. Ted Osius, head of the US-ASEAN Business Council, emphasized Lam's determination to grow the tech economy, stating, "His presidency is focused on digital transformation as a driving force for the country."

As Vietnam continues to position itself as a hub for technology and innovation, the outcomes of these discussions could pave the way for significant advancements in the country's tech landscape, benefiting both local and international stakeholders. Lam's proactive approach in engaging with U.S. corporations reflects a strategic vision for Vietnam's future in the global economy.

Sources

• Vietnam's Lam meets US corporations, Meta seeks 'stronger presence', Yahoo Finance Canada.