US high-tech giants pay attention to the Vietnamese market

From gene sequencing technology to AI and semiconductors, American high-tech giants have been continuously increasing their presence in Vietnam recently.

In mid-April, California-based life science technology company PacBio chose Da Nang to host its annual genomics conference, PRISM. This was the first time Vietnam had hosted an event that brought together international experts to discuss advances in gene sequencing technology.

Gene sequencing is a method of determining the nucleotide sequence of specific genes, helping to "read" the genetic code of an organism. This technology is used in medicine to detect pathogens; diagnose genetic diseases or improve farming and farming processes in the agricultural industry.

Mr. Jason Kang, PacBio's Vice President and General Manager for Asia Pacific sees a bright future for providing these gene technology solutions. "The pharmaceutical and biopharmaceutical sector is expected to attract more multinational companies. At the same time, Vietnam has a long-standing agricultural foundation, so developing advanced, highly accurate technologies is very important for the future of the industry," said Mr. Khang.

Jason Kang, Vice President and General Manager of Asia Pacific at PacBio, speaks at PRISM 2025 in Da Nang, April 15. Photo provided by the company

Not only expanding the market and providing solutions, a series of American "giants" have recently promoted processing activities, investment or sought cooperation opportunities in many high-tech fields.

In early April, Qualcomm announced MovianAI Acquisition - VinAI's subsidiary specializing in developing generative artificial intelligence (genAI). This is the second prominent M&A information in the AI field of an American enterprise, after the deal Nvidia acquires VinBrain - Vingroup's artificial intelligence company late last year.

Meeting with Deputy Prime Minister Nguyen Chi Dung in the middle of this month, Qualcomm Senior Vice President of Engineering Jilei Hou also expressed his desire to build Research and Development Center (R&D) in Vietnam, specializing in AI. In the semiconductor field, Intel said in early April that it wanted to find more supplier in Vietnam.

Or in the aerospace industry, late last year, Reuters Wistron factory in Ha Nam has started manufacturing new components for billionaire Elon Musk's SpaceX company. At the same time, KP Vina factory producing components for Boeing also started operating in Da Nang High-Tech Park.

Christopher Vanloon, President of the American Chamber of Commerce in Vietnam - Da Nang Chapter (AmCham Da Nang), said that 27 years ago, when he first came to Vietnam, what impressed him were the plastic chairs and beer halls. Today, this place produces aerospace components for Starlink. "Vietnam is entering a new phase, making strong breakthroughs in fields such as genetic biology, artificial intelligence, aerospace and especially semiconductors," he commented.

According to the Foreign Investment Agency (Ministry of Finance), the US was the 10th largest foreign direct investment (FDI) partner in the first quarter of this year, up 2 places compared to the same period in 2024. FDI from this country reached 148 million USD, an increase of nearly 93%. Along with that, data from the Customs Department showed that imports of US goods also increased by more than 21%, reaching over 4 billion USD.

Mr. Travis Mitchell, Executive Director of AmCham Vietnam, said that late last year, the organization surveyed its members and identified three major opportunities in Vietnam, including the potential for domestic consumption growth, updated economic reform progress, and an expanding middle class.

According to the report "Innovation and Private Capital Investment in Vietnam 2025" by the National Innovation Center (NIC) and the Boston Consulting Group (BCG), Vietnam is a strategic destination for high-tech and innovation capital flows. This is thanks to its export-oriented manufacturing strategy and capital flows shifting to higher value-added sectors. In addition, the domestic consumer market is also booming thanks to the rapid growth of the middle and affluent classes.

Mr. Christopher Vanloon said that Vietnamese associates in their 40s and 50s tend to be thrifty. But their children are as modern and sophisticated as any consumer in Malaysia or Thailand. "They spend more, care about health, longevity and quality of life," he said.

According to experts, the Government is proactive in creating a favorable environment for the next economic breakthroughs, focusing on modernization, sustainable development and innovation. According to the report of NIC and BCG, these core factors help Vietnam attract more and more attention from domestic and foreign investors.

Jason Kang at PacBio Asia Pacific also sees Vietnam's growing focus on high technology. "I am impressed with Ho Chi Minh City, Hanoi and Da Nang - major cities that have witnessed strong development in the fields of science and technology and attracted many international businesses. I believe in a bright technological future in Vietnam," he said.

Regarding gene technology – the field in which PacBio is operating – Vietnam recorded a growth rate of 21-22% per year in the period 2019–2023, according to data from market development company DKSH (Switzerland), PacBio's main distribution partner in the region.

According to DKSH, with a clear orientation, increasingly complete infrastructure and strong government support for biotechnology, Vietnam has become a destination to connect diverse perspectives in the region, promote knowledge exchange and scientific development.

NIC and BCG assess Vietnam as "at the forefront of the digital and AI revolution", with a digital economy worth $36 billion and forecast to maintain double-digit growth.

Employees work at the Intel Products Vietnam factory. Photo provided by the company.

Mr. Kenneth Tse, Vice President and General Director of Intel Products Vietnam Company, said that when the world realizes the importance of a geographically diverse and strong supply chain, many opportunities open up for Vietnam. Because this place has a young and talented workforce, a government focused on developing high technology, and a stable political and social environment.

AmCham Da Nang Chairman confirmed that human resources are a strength. "The Vietnamese government is focusing on investing in technology education, especially English - a key factor in global technology integration," said Mr. Christopher.

However, to attract more high-tech "eagles" from the US, some improvements are still needed. The CEO of AmCham Vietnam pointed out three main challenges for American businesses in a survey late last year, including complicated administrative procedures, human resource development issues, and infrastructure shortages.

Mr. Kenneth Tse explained that more and more global high-tech corporations are moving their production supply chains to Vietnam, which will create fierce competition for talent. In addition, as Vietnam develops in the high-tech industry, infrastructure such as electricity production and supply, and highways need to be one step ahead. Along with that, American businesses expect more supportive policies on taxes and procedures.

"Having a one-stop mechanism will support existing FDI enterprises, while attracting new companies to Vietnam," said Mr. Kenneth Tse.

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