HP Group wants to invest 2-3 billion USD to expand production in Vietnam

Prime Minister Pham Minh Chinh received Mr. Antoine Colin - Senior Vice President, responsible for global digital transformation and supply chain of HP Corporation (USA). (Photo: VGP/Nhat Bac)

Prime Minister Pham Minh Chinh welcomed Mr. Antoine Colin's visit to Vietnam on the occasion of the two countries celebrating the 30th anniversary of diplomatic relations and continuing to implement the framework of the Comprehensive Strategic Partnership.

The Prime Minister highly appreciated the investment cooperation activities as well as the practical and effective contributions of HP Company in Vietnam to Vietnam's economic development and bilateral relations.

Currently, Vietnam is striving for growth of 8% in 2025 and double digits in the coming years, striving to achieve the goals of becoming a developing country with modern industry and high middle income by 2030, and a developed country with high income by 2045.

The Vietnamese Government is committed to creating all favorable conditions, including institutional reform, for foreign investors in general, including the US, to invest and do business effectively in Vietnam, ensuring compliance with legal regulations, handling problems in the spirit of harmonizing interests, sharing risks, working together, winning together, and developing together.

Regarding tariff negotiations with the US, the Prime Minister also said that Vietnam advocates building an independent and self-reliant economy associated with active and proactive international integration, deeply, practically and effectively; encouraging technology transfer, production in Vietnam, and the use of Vietnamese human resources, raw materials and components.

The Prime Minister suggested that HP expand its investment and encourage other businesses and partners to invest in Vietnam, especially in areas with much room for cooperation and priorities for Vietnam such as high technology, sustainable development, artificial intelligence, etc.; and speak out with the US to have a tariff policy suitable for both sides.

The Prime Minister asked HP to expand its investment and encourage other businesses and partners to invest in Vietnam. (Photo: VGP/Nhat Bac)

Mr. Antoine Colin said HP Inc. (1939) is the world's leading technology company in the field of personal computers, printers and 3D printers with revenue of 55 billion USD and more than 50,000 employees in 180 countries.

HP Vietnam was established in 1996, currently has nearly 100 employees, headquartered in Ho Chi Minh City. On the occasion of the 30th anniversary of operations in Vietnam, HP Vietnam and its partner businesses organized the "Campaign for the Green Earth" to reforest 50 hectares of forest in Hoa Binh province in 2025.

Agreeing with the Prime Minister's opinions, HP Vice President believes that Vietnam and the US will find a good tariff solution that is good for both sides and HP will support Vietnam in the negotiation process.

HP Vice President emphasized that Vietnam is an important market that HP believes will be successful, congratulated Vietnam on achieving impressive economic growth, assessed that Vietnam is strongly transforming in improving the investment and business environment and has the opportunity to enhance national competitiveness. Recently, HP's factory in Vietnam was deployed very quickly, completed and put into operation in just 6 months.

Currently, HP has cooperated with more than 40 suppliers in Vietnam, the company wants to increase production capacity in Vietnam with a scale of 2-3 billion USD. He affirmed HP's strategy and goal in building an ecosystem, supply chain in Vietnam and the region to adapt to the new situation; invest more in Vietnam with faster progress, further promote technology exchange, transfer, and innovation.

He shared more about the ecosystem that HP wants to build in Vietnam with synchronous factors of infrastructure, technology, use of Vietnamese human resources and components, flexible supply chain; further increase the production volume of personal computers, printers... in Vietnam and expand to new products, new technologies, artificial intelligence applications, such as laptops integrated with AI...

HP Vice President emphasized that Vietnam is an important market that HP believes will achieve success. (Photo: VGP/Nhat Bac)

Also at the meeting, HP raised and the Prime Minister acknowledged the Company's proposal on the issue of foreign contractor tax. The Prime Minister said that the National Assembly and the Government of Vietnam have been and are continuing to issue laws and resolutions to handle the difficulties of businesses and investors in a practical spirit, in accordance with international practices.

Recently, the National Assembly passed the Law on Corporate Income Tax (amended) and it will take effect from October 1, 2025; The Vietnamese Government is currently in the process of drafting guiding documents, which are expected to include provisions on corporate income tax policies for foreign contractors, ensuring that there is no double taxation on the same income generated in Vietnam, in accordance with international practices and business practices.

Welcoming HP's expansion of production, building an ecosystem and supply chain in Vietnam, the Prime Minister suggested that HP continue to discuss with the Ministry of Finance and relevant ministries and branches in the process of developing guiding documents, making maximum use of general regulations and possibly having specific policies in the spirit of encouraging large-scale, high-tech investment projects, and transferring advanced and modern technology.

(Source: Government Newspaper)

Link: https://baochinhphu.vn/tap-doan-hp-hoa-ky-muon-mo-rong-san-xuat-tai-viet-nam-voi-quy-mo-2-3-ty-usd-10225062014461575.htm

Source: https://vtcnews.vn/tap-doan-hp-muon-dau-tu-2-3-ty-usd-mo-rong-san-xuat-tai-viet-nam-ar950006.html