return icon

Vietnam: new destination for multinationals to set up R&D centers

Vietnam wants to upgrade foreign direct investment (FDI) quality by manufacturing products with higher hi-tech and added value, and multinationals are also striving to do this after many years in Vietnam.

At a meeting between the Prime Minister and foreign invested enterprises (FIEs) held on September 17, many foreign corporations showed their plans for research centers. The technology giant Samsung has plans for its research center in Hanoi.

Marukawa from Panasonic Vietnam said after 50 years in the Vietnamese market, the enterprise has been expanding investments by establishing an R&D and production center of IAQ (indoor air quality) equipment for the Asian market in Binh Duong; and establishing an R&D center for smart washing machines and refrigerators in Hung Yen.

“We have also expanded the IoT (Internet of Things) R&D center in Hanoi to develop products using IoT technologies and AI, smart digital factory solutions and other software products using AI,” he said. 

With a value of $200 million of products manufactured in Vietnam in the last few years, Micheal Vu Nguyen, Boeing Country Director in Vietnam, said he can see great potential for growth in Vietnam. 

“We organized the first Boeing Vietnam Aerospace Industry Forum last August, which had more than 200 participants, including potential suppliers and major vendors from Japan, South Korea and Malaysia, as well as Vietnamese and US government agencies, and Vietnam air carriers and universities. 

Boeing encourages major suppliers to make additional investments or new investments in Vietnam and cooperate with Vietnamese vendors to create a sufficient, effective and flexible supply chain in order to provide highest-quality products and services to clients,” he said.

Meanwhile, Rafael Frankel, Meta CEO Asia Pacific, said Meta is joining forces with MIC to seek more measures to support the national strategy on digital economy that promotes digital citizenship, digital government and digital society.

He posited a future when Vietnam leads the region in green economy and technology, and creates millions of new jobs.

“Imagine a Vietnam in the future, where Vietnam-made technologies are scattered across Southeast Asia, bring jobs to millions of Vietnamese, and protect the cenvironment for the next generations. Imagine a Vietnam which has many software engineers who not only develop software for international leading technology firms but own leading technology firms,” Frankel said.

“Let’s imagine that Vietnam takes the lead in the Metaverse, which is virtual reality and augmented reality devices. This allows a surgeon in HCM City to teach the next-generation surgeon in Hue without having to leave his office. The future is within reach of Vietnam,” he said.


Erin Ennis from Dell Technologies said the company’s experience with similar investment items over the last 30 years shows that Dell’s projects in Vietnam promote and make significant contributions to the development of local electronics, mechanical engineering and packaging. 

She said Vietnam would play an important role in Dell Technologies diversifying its supply chain.

Tran Sy Thanh, Hanoi Mayor, speaking at a recent conference reviewing Resolution 54 on the development of Red River Delta, said that Vietnam can attract projects which do the ‘body’ of hi-tech products but still cannot create the ‘soul’ with high added value and high technology such as semiconductor chips.

Hanoi leaders said some large corporations from South Korea have shown interest in this field. However, huge multinational groups want support policies when making huge investments of $5-10 billion.

Amid implementation of the Global Minimum Tax, the agreement under which investment incentives offered to foreign groups will be restricted to ensure that corporate income tax must be at least 15 percent, attracting high-quality FDI will face challenges as the government would have to weigh non-tax support measures for these groups.

Meanwhile, a high-quality workforce is still lacking to realize the plan to become a destination for projects with high level of hi-tech content.

A representative of Bosch recommended that the government continue making efforts to improve vocational training. He said Bosch is ready to help prepare Vietnam’s labor force for opportunities in the 4.0 industrial and digital transformation era.

Luong Bang


Su-30MK2 fighters perform at Vietnam International Defence Expo 2022

The Vietnam Air Force's Su-30MK2 fighters and Mi helicopters made an impressive performance at the opening ceremony of the Vietnam International Defence Expo 2022 at Hanoi's Gia Lam Airport on December 8.

France supports decentralized cooperation with Vietnam, says Gerard Larcher

The Senate of France supports decentralized cooperation between France and Vietnam, considering this a key programme in the Senate’s working agenda, Senate president Gerard Larcher told NA chairman Vuong Dinh Hue during talks in Hanoi on December 8.


Business association helps connect Vietnamese, Malaysian firms

PM’s Europe trip spreads message about strongly recovering Vietnam

Prime Minister Pham Minh Chinh’s trip to attend the ASEAN-EU Commemorative Summit and visit Luxembourg, the Netherlands, and Belgium from December 9 to 15 will extend a message of a strongly recovering Vietnam


PM’s trip to elevate Vietnam – EU to new height: diplomat

Vietnam changes rapidly after 25 years of Internet connection

The decision to connect to the Internet 25 years ago was a brave act, showing a long-term vision, contributing to comprehensive changes in the country, experts said at the 25th anniversary of Vietnam's Internet and Internet Day 2022 on December 7.

Policies needed to ensure sharing economy development is on-track

Sharing economy was not only creating opportunities to increase income but also opening up a new and flexible market, thereby creating a growth engine and increasing productivity for micro, small and medium – sized enterprises.

Some businesses are still paying high dividends

While many enterprises are facing difficulties, some plan to spend trillions of VND to pay dividends and buy treasury stocks.

Vietnamese box office smash to premier in Australia

According to Box Office Vietnam, The Girl from the Past has generated revenue of VND53 billion (US$2.2 million) after debuting in Vietnamese cinemas.

French Senate President arrives in Hanoi, beginning official visit to Vietnam

French Senate President Gérard Larcher arrived in Hanoi on December 8 morning, beginning an official visit to Vietnam at the invitation of National Assembly Chairman Vuong Dinh Hue.

Vietnamese film to compete at Golden Globe Awards

“Dem Toi Ruc Ro”, known as “The Brilliant Darkness” in English, a movie on domestic violence by American director Aaron Toronto, features in this year’s list of Golden Globe Awards’ nominees.

PM attends inauguration of Vietnam International Defence Expo 2022

Prime Minister Pham Minh Chinh and military officers pressed buttons inaugurating the Vietnam International Defence Expo 2022 at Gia Lam airbase in Hanoi on December 8.

Money borrowers face black credit traps on online lending apps

A lot of money borrowers have been recently cheated on online lending applications which seem to ask for simple procedures at first but then claim cut-throat interest rates.

Young scientist becomes first Vietnamese awarded by UK Royal Aeronautical Society

With the Young Persons’ Achievement Award, Dr. Nguyen Huyen Duc has become the first Vietnamese scientist to receive the prize from the UK’s Royal Aeronautical Society (RAeS).

Revelations of an e-cigarette seller

After exchanging text messages via social media, VietNamNet’s reporter, who acted as an e-cigarette buyer, decided to meet the seller and discovered many things that made him shiver.