Widen investment, role in Vietnam, President tells Apple, Boeing

Vietnamese President Vo Van Thuong has asked U.S.-based tech giants Apple and Boeing to make greater investments and step up their roles in Vietnam.

In separate meetings with senior executives of both firms, he said Vietnam wanted to develop a digital economy and highly skilled workforce and sought greater cooperation towards meeting its targets.

The meetings took place on the sidelines of the President’s working trip to the U.S. to attend the APEC 2023 summit.

Better 5-G based standards

Apple CEO Tim Cook told the president that Vietnam was part of the company’s special business strategy, noting that many of its products including Macbook, Ipad and Apple Watch were being produced in the country.

He expressed high appreciation for Vietnam’s growing digital economy, strong and high-quality workforce including engineers.

Cook also said that Vietnam’s attractiveness as an investment destination was seen in its success to attract many top technology and electronics giants.

He suggested that Vietnam improve the standard of 5G-based systems, legal framework for the digital economy and Artificial Intelligence (AI) applications while paying due attention to security, safety and privacy.

President Thuong appreciated Apple’s business expansion in Vietnam and called on the giant to invest more, especially in high technology, noting the favorable context of Vietnam-U.S. ties being elevated to that of comprehensive strategic partnership.

He also proposed that Apple help Vietnam with updating its legal framework for the digital economy, building relevant infrastructure, workforce training, 5G utilization, and other areas.

Aviation ecosystem

In his meeting with Brendan Nelson, vice president of The Boeing Company and president of Boeing Global, the Vietnamese dignitary called for more cooperation between Boeing and Vietnamese businesses, especially in forging an aviation ecosystem in Vietnam to serve the growing demand for traveling by air of Vietnamese citizens.

Congratulating Vietnam on the progress it has made in sustainable poverty reduction, Nelson affirmed that Boeing would help build an aviation ecosystem in Vietnam, focusing on facilities, airport construction, and aircraft repair and maintenance.

Boeing will also help Vietnam with training of pilots, technicians and air crew; as well as with flight safety and management, he said.

Business roundtable

On the same day, President Thuong attended and delivered a speech at a roundtable between businesses and localities of Vietnam and the U.S.

He said Vietnam welcomes U.S. investors in the prioritized sectors of high technology, chip production, semiconductors, green economy, digital economy and cashless payment.

Vietnam was making maximum efforts to improve it investment environment to facilitate American firms, he added.

President Thuong later witnessed the signing of several deals between American and Vietnamese businesses and localities.

Hung Yen, Vietnam’s Saigon Telecommunications Technology JSC (Saigontel) and U.S. firm Allotrope Partners signed a deal to help the northern province reduce its net emissions.

Hai Phong city, Vietnam’s real estate developer Kinh Bac City and the Port of Los Angeles signed an agreement on developing the Nam Do Son general port in Hai Phong city.

Saigontel, Ho Chi Minh City’s Department of Planning and Investment and U.S. firm Energy Capital inked a deal on integrating AI in traffic solutions, emission reduction in HCMC and low-emission energy.

Saigon High-Tech Park (SHTP), Saigontel, Energy Capital Allotrope Partners and Maius signed an agreement on developing an innovation center in HCMC.