ZTE and Huawei strengthen tech alliances with Vietnam

ZTE, currently a critical partner for several of Vietnam's telecommunications firms, took the spotlight during the high-profile meetings. President Thuong, reflecting Vietnam's unwavering commitment to digital transformation and economic advancement, set the stage for a dynamic collaboration.

In keeping with the objectives of the Belt and Road Forum, President Thuong underscored the imperative of national-level cooperation between governments and enterprises in the establishment of digital infrastructures, digital institutions, and digital workforces.

"Vietnam eagerly anticipates the involvement of Chinese corporations, particularly those wielding cutting-edge technology, to invest and expand their operations in Vietnam, thereby facilitating the infusion of innovative technologies and streamlined production processes," he said.

In acknowledging the magnitude of this partnership, President Thuong lauded the 4,000-plus active Chinese investments in Vietnam, collectively amounting to over $26 billion.

"During the first nine months of 2023, China surged to become the second-largest investor in Vietnam, with a registered capital of $2.9 billion," he added.

The Vietnamese government, in alignment with its leadership, remains steadfast in its commitment to bolstering the investment climate, endeavouring to optimise the ease of doing business for both domestic and foreign enterprises.

Li Zixue, chairman of ZTE Group, joined the discussions, outlining the conglomerate's credentials. Established in 1985, ZTE is publicly listed on the Hong Kong and Shenzhen stock exchanges and stands as a major player in China's 5G equipment landscape.

Beyond that, ZTE boasts a history of expertise in network development, system architecture, software design, and 5G technology applications, rendering it a prime candidate to fortify Vietnam's digital infrastructure.

The meeting also provided the occasion for President Thuong to engage with Liang Hua, chairman of Huawei Group, a global heavyweight in ICT infrastructure, digital energy, cloud computing, and terminal devices.

Operating across over 170 countries, Huawei is the world's fourth-largest investor in research and development.

Amidst the backdrop of an accelerating global digital transformation and digital economy, President Thuong underscored Vietnam's unwavering commitment to these pivotal pursuits. He implored a collaborative ethos among stakeholders, ranging from government agencies to private enterprises and both domestic and foreign investors, to work in the development of digital infrastructure, the nurturing of a digital workforce, and the crafting of a digital framework.

Vietnam extends its arms to enterprises with substantial economic fortitude and advanced technological capabilities, and Huawei is emblematic of this alliance, the president added.

Liang Hua of Huawei Group declared the company's dedication to elevating Vietnam's digital competitiveness.

"Huawei envisions playing an instrumental role in Vietnam's digital economy, societal progress, and energy transformation, forging a nexus between technological breakthroughs and the realms of agriculture and industrial production. Furthermore, Huawei has initiated collaborations with several universities, underlining its commitment to fostering digital talent and its readiness to coalesce with Vietnam on workforce development," he said.

In the ensuing period, Huawei commits to ramping up investments to facilitate Vietnam's multifaceted and balanced digital transformation journey.

China has surpassed South Korea and Japan to become the second-largest foreign investor in Vietnam this year. Seck Yee Chung, partner at Baker McKenzie Vietnam, discussed with VIR’s Thanh Van about the Chinese funding that is ramping up in Vietnam.

Chinese investors, driven by Vietnam’s strategic position and their own financial prowess, are deeply embedding themselves across various sectors in the country.

Huawei has revealed its ambition to invest in Vietnam's digital infrastructure, underscoring its commitments to an eco-friendly energy transition.