Investment News

Vietnam holds appeal for FDI in high technology


Over 100 multinational groups are currently investing in the country.

Vietnam has posted encouraging results in attracting FDI in the field of high technology and boasts the presence of global tech giants such as Intel and Samsung, a conference in Hanoi on September 7 heard.

With the theme “Attracting FDI in high technology and promoting technology transfer”, the conference was held to mark 35 years of Vietnam’s efforts in foreign investment attraction.

Global tech corporations investing strongly in high technology has helped to rapidly boost the domestic market, according to Deputy Minister of Science and Technology Do Xuan Ngoc.

Vietnam currently has 38,084 valid FDI projects with total registered capital of $453.26 billion, of which nearly $287.1 billion has been disbursed.

In the first eight months of this year, the country attracted 1,924 new projects, while 830 others registered to adjust their investment capital and 22,268 transactions of capital contributions for share purchases were recorded, with a combined value of nearly $18.15 billion.

However, limitations remain in technology transfer between foreign investors and domestic businesses. Of the more than 100 multinational groups investing in Vietnam, only Samsung and LG from South Korea have built research and development (R&D) centers, in Hanoi.