Meta to strengthen AI innovation ecosystem in Vietnam

Molly Montgomery, director of Public Policy at Meta

Montgomery spoke of the importance of Vietnam as a market for Meta at a time when many manufacturing plants are moving to the country. Meta, NIC, and the organisation 'AI for Vietnam' are coordinating to build an open-source Vietnamese data set for research, development, and application of AI.

She also expressed her appreciation for the way Vietnam responded to the US government's tariffs, saying, "For companies with large production facilities in Vietnam, the statements from the Vietnamese government to Washington were of great importance to those firms looking to invest and expand their investments in Vietnam."

"Meta, like many international companies working in Vietnam, recognises the importance of strengthening collaboration between businesses and government agencies. We are committed to enhancing this partnership to support our ongoing operations, expansion, and future growth in the market," Montgomery added.

According to Hoai, "Vietnam is committed to developing its own high-tech and semiconductor sectors. The government issued a decree at the end of last year (Decree No.182/2024/ND-CP) to establish an Investment Support Fund to support investments in AI and semiconductor technology."

In Prime Minister Pham Minh Chinh's visit to Meta headquarters in 2023, the issues of infrastructure, institutions, and personnel to develop AI in Vietnam were raised, with Hoai now believing Vietnam has resolved these concerns. "I firmly believe that Meta can develop the ecosystem it needs in Vietnam," he said.

During discussions on tariffs, tax deputy director Dang Ngoc Minh requested that Meta provide additional documentation regarding its proposal to apply the Double Taxation Avoidance Agreement between Vietnam and Ireland.

"Given its revenue scale in Vietnam, Meta must establish a commercial presence in the country soon. This will strengthen policy coordination and boost high-tech investment between Vietnam and the US, particularly in AI, open data, and VR devices," said Minh.

Dao Thanh Huong, deputy director of the Foreign Investment Agency, said that Vietnam is currently attracting many direct investors from the US, including tech giants such as Intel and Apple.

"This demonstrates the stability and reliability of Vietnam’s policies for attracting foreign investment. The country has prioritised digital technology and innovation investors, areas where Meta excels," she said. "We therefore expect Meta to establish a local presence soon, enabling deeper investment exploration and long-term commitment in the Vietnamese market."

Montgomery acknowledged these remarks and stated that Meta would provide detailed studies and proposals in the near future.

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