Dozens of tech agreements signed between Vietnam and US corporations

PM Pham Minh Chinh at the Vietnam and US Business Forum on Technology and Innovation Cooperation

At the High Level Week of the 78^th Session of the United Nations General Assembly and bilateral activities in the US, PM Chinh attended the Vietnam - US Business Forum on technology and innovation cooperation organised by the Ministry of Planning and Investment in coordination with the Vietnam's Embassy in San Francisco and the US-ASEAN Business Council.

At the forum, the PM and delegates witnessed the awarding ceremony of cooperation agreements between State Capital Investment Corporation, Vietnam Pharmaceutical Corporation (Vinapharm) and Biomed Group exchanging a cooperation and joint venture agreement to establish a company for manufacturing and clinically testing Biomed's biopharmaceutical products and building a research and development (R&D) Center in Vietnam;

There was also a deal signed between Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm Technologies Inc. (QTI) awarding a cooperation agreement to transfer the rights of QTI technologies and equipment to VNPT;

Mobifone Corporation and Jupiter Networks Group announced they were cooperating in building data centre and cloud computing service business;

Finally, Rikkeisoft Corporation (in Vietnam) and RKTech (in the US) signed an MoU on establishing RKTech America Company in Dallas, Texas, specialising in designing and developing software, mobile applications and IT consulting services.

Dozens of deals were agreed between Vietnam and US corporations

Chinh discussed the development process of Vietnam-US relations, and the upgrade of bilateral ties to a Comprehensive Strategic Partnership.

He said that Vietnam's economy was worth about $409 billion, and GDP per capita was $4,100. Vietnam has become one of the world's top 20 largest international trade economies and one of the world's 40 largest economies.

In 2022, despite rapid, complex, unpredictable fluctuations in the world and regional economies, and numerous difficulties, Vietnam has turned risks into opportunities and achieved many positive results.

GDP growth in 2022 reached 8.02 per cent, the highest in the past 10 years; import-export turnover reached over $732 billion, an increase of 9.5 per cent on-year; the trade surplus was over $11 billion; and foreign direct investment disbursement reached about $22.4 billion, the highest in five years.

"Vietnam's investment environment continues to be highlighted by the international community and investors," the PM said. "We believe that investors' success is also our success. We hope that US businesses will continue investing in Vietnam, enabling us to participate in the global supply chain, especially in science, technology, and innovation to benefit both sides, and share risks together."

Dozens of agreements in technologies and innovation shaken hands between Vietnam and US corporations

At the forum, US businesses showed their interest in and said they would look for opportunities to invest in Vietnam. As technologies and innovation are new pillars in the bilateral relations, they asked the governments to support and connect people and businesses to develop technologies, innovation, semiconductor technology, remote sensing, AI, big data, and high-quality human resources training.

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