Vietnam is rapidly emerging as a key tech hub in Southeast Asia, attracting major investments from global technology giants like Nvidia, Meta, and Google. As the world witnesses the explosion of artificial intelligence (AI) and cutting-edge technology, Vietnam is becoming a strategic destination for high-tech development.

Global tech giants flock to Vietnam

According to Tech in Asia, foreign direct investment (FDI) in Southeast Asia is shifting significantly, with countries like Vietnam and Indonesia becoming vital players in the global tech ecosystem.

While Indonesia leverages its vast consumer market, Vietnam is making substantial progress beyond its traditional role as a manufacturing center. One of the most prominent developments is Nvidia’s decision to establish its third global research and development (R&D) center in Vietnam - following the US and Taiwan. Nvidia also plans to build an AI data center and has acquired VinBrain, an AI startup under the Vingroup conglomerate.

“Artificial intelligence presents a tremendous opportunity for Vietnam. The country’s strong support for this sector will be a significant boost to building an AI ecosystem, benefiting both Vietnam and Nvidia,” said Jensen Huang, CEO of Nvidia.

Nvidia’s investment not only marks a milestone but also sets off a ripple effect, drawing interest from other high-tech investors, particularly in AI and semiconductors. The Nvidia R&D center in Vietnam will play a pivotal role in expanding the AI ecosystem, fostering collaborations with data center equipment suppliers.

Tech heavyweights follow suit

Following Nvidia, Meta - the parent company of Facebook and Instagram - announced in October its plans to expand production of the Quest 3S mixed-reality device in Vietnam. This expansion is expected to create up to 1,000 jobs, contributing millions of dollars to the national economy.

As part of its global AI strategy, Meta has also begun testing Vietnamese-language AI assistants - prioritizing Vietnam over European markets.

"These initiatives reflect Meta’s strong belief in Vietnam’s potential for success," said a Meta representative.

In December, Google also made a strategic move by selecting Vietnam as a key investment destination. Starting from 2025, Google Vietnam will officially commence operations, supporting digital transformation efforts and local enterprises.

Apart from these three tech giants, Qualcomm, Foxconn, SpaceX, Apple, Lam Research, and Qorvo have also embarked on significant projects in Vietnam, cementing the country's position as a regional high-tech hub and enhancing its role in the global technology supply chain.

The rise of a digital powerhouse

International experts attribute Vietnam’s appeal to several factors: a young, tech-savvy population, government support policies, and a strategic geographical location. The influx of investment from tech giants like Nvidia, Meta, and Google not only signals a global strategic shift but also highlights Vietnam’s bright future in high-tech development.

“Vietnam has abundant human resources and demonstrates strong commitment to supporting high-tech enterprises. That’s why we chose Vietnam as the next destination for our strategic projects,” remarked Nvidia CEO Jensen Huang.

Similarly, Google CEO Sundar Pichai acknowledged Vietnam’s tremendous potential to become a technology innovation hub in Southeast Asia. “We are committed to partnering with Vietnam to develop digital infrastructure and train high-quality human resources,” he stated.

Analysts predict that digital investment will play a crucial role in Vietnam’s economic growth in the coming years. The inflow of foreign capital into tech and other sectors will support the country’s economic growth target of 7.5% by 2025.

According to Bloomberg, the presence of tech giants like Nvidia, Meta, and Google will not only boost the tech industry but also catalyze growth in manufacturing, logistics, and services. It is estimated that investments from Nvidia and Google alone could contribute an additional 1% to Vietnam’s GDP annually over the next decade.

Moreover, collaboration with leading tech companies will elevate Vietnam’s global standing, facilitating partnerships with international organizations and paving the way for a robust technology-driven future.

PV