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Prime Minister works with corporations and investment funds to develop technology

Prime Minister Pham Minh Chinh received the Asia-Pacific Chairman of Cisco Corporation (USA); General Director of Insignia Ventures Partners Investment Fund; Chairman and CEO of FII.

VietnamPlusVietnamPlus25/06/2025

According to a special correspondent of the Vietnam News Agency, on the occasion of attending the 16th annual Pioneers Meeting of the World Economic Forum (WEF) and working in China, on June 25, in Tianjin city, Prime Minister Pham Minh Chinh worked with leaders of multinational corporations and investment funds to promote cooperation in the technology field.

Prime Minister Pham Minh Chinh received Mr. Dave West, Asia- Pacific President of Cisco Corporation (USA).

At the meeting, Mr. Dave West said that Cisco Systems is a leading technology corporation in the United States, globally famous for its pioneering role in the field of network equipment and information technology solutions, especially products related to routing, switching, network security, cloud computing and unified communications.

The group began manufacturing equipment in Vietnam in 2022 and currently, Vietnam accounts for about 30% of Cisco Systems' global production. In the past, Cisco Systems has supported training and skill improvement for about 100,000 technology workers in Vietnam.

Appreciating Vietnam's vision for developing science , technology, innovation and digital transformation, Mr. Dave West said that Cisco Systems wishes to participate in this process of Vietnam, especially in developing technology infrastructure, training human resources, especially semiconductor human resources, Artificial Intelligence (AI) and deploying development models, applying AI, ensuring network security in Vietnam.

Appreciating the effective investment activities of Cisco Systems Corporation globally and in Vietnam, Prime Minister Pham Minh Chinh welcomed the corporation's desire to expand cooperation with Vietnam to promote innovation, apply modern technologies and promote digital transformation.

The Prime Minister said that Vietnam identifies science, technology, innovation and digital transformation as the main driving force to restructure the economy and establish a new growth model to turn Vietnam into a high-income developed country by 2045.

The Prime Minister asked Cisco Systems to continue researching and expanding investment cooperation, and at the same time act as a bridge for US businesses and Cisco Systems partners to increase investment in Vietnam; cooperate with Vietnam in the field of human resource training, especially in priority areas such as high technology, AI, etc.

The Prime Minister also asked Cisco Systems to work with Vietnamese ministries and enterprises such as the Ministry of Science and Technology, technology corporations such as Viettel and CMC to carry out specific programs and projects. The Prime Minister also invited Cisco Systems leaders to visit Vietnam as soon as possible to discuss opening a research and training center on semiconductor chips, AI, network management, network security, and digital transformation in Vietnam; supporting and training 100,000 semiconductor and AI workers in Vietnam within the next 5 years; as well as sharing documents and supporting Vietnam in implementing the "digital literacy movement."

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Prime Minister Pham Minh Chinh received Mr. Tan Yinglan, CEO of Insignia Ventures Partners (Singapore). (Photo: Duong Giang/VNA)

On the same afternoon, Prime Minister Pham Minh Chinh received Mr. Tan Yinglan, General Director of Insignia Ventures Partners Investment Fund.

Mr. Tan Yinglan said that Insignia Ventures Partners is a technology investment fund established in 2017 in Singapore. In Vietnam, the fund has an office in Ho Chi Minh City and invested in many Vietnamese technology startups such as Logivan, Edmicro, Waves, Finhay, Propzy... Insignia Ventures Partners wants to participate more in supporting the startup and innovation movement, especially among young Vietnamese people, as well as training technology human resources in Vietnam.

Prime Minister Pham Minh Chinh highly appreciated the achievements of Insignina Ventures Partners in recent times and thanked the fund for its efforts in promoting Vietnamese startups and innovation.

Providing information on Vietnam's socio-economic development strategy with science, technology, innovation and digital transformation as the main driving force, Prime Minister Pham Minh Chinh said that Vietnam has a strong and dynamic startup ecosystem; abundant human resources in technology, information, engineering and a lot of potential, with good technological adaptability.

The Prime Minister also shared Vietnam's desire to cooperate and connect technology enterprises and investment funds to support training and improve the capacity of Vietnamese IT personnel; as well as in developing an innovation and startup ecosystem in Vietnam.

Prime Minister Pham Minh Chinh said he has just signed a decision on the list of strategic technologies and strategic technology products, including 11 priority areas such as AI, cloud computing, quantum, data, blockchain, new technologies and science and technology in underground space exploitation, marine space, outer space, etc.

The Prime Minister suggested that Insignina Ventures Partners invest in the above fields to receive incentives and participate in the international financial centers that Vietnam is building.

In addition, Prime Minister Pham Minh Chinh hopes that Insignina Ventures Partners will soon concretize and implement the establishment of a separate investment fund for Vietnam as well as introduce other investment cooperation mechanisms to develop the innovation ecosystem and promote Vietnamese startups; at the same time, connect businesses in Insignia's investment network to expand research, development and production and business activities in Vietnam to take advantage of Vietnam's preferential policies in the high-tech sector, contributing to the development of Vietnam's technology ecosystem. In addition, Insignina Ventures Partners can share operational experience and advise the Vietnamese Government on breakthrough mechanisms and policies to support startups and businesses.

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Prime Minister Pham Minh Chinh received Mr. Brand Cheng, Chairman and CEO of Foxconn Industrial Internet Company, a member of Foxconn Group. (Photo: Duong Giang/VNA)

Prime Minister Pham Minh Chinh also received Mr. Brand Cheng, Chairman and CEO of Foxconn Industrial Internet (FII).

Introducing the scale and strengths of FII, especially in providing smart manufacturing solutions and digital industrial services, Mr. Brand Cheng said that FII is ready to cooperate in training technology human resources for Vietnam, expanding cooperation in the field of AI data centers, green manufacturing and sustainable development... He hopes that Vietnam will prioritize the approval of high-tech certification for enterprises belonging to the Foxconn Group.

Appreciating FII's effective investment activities in Vietnam as well as ideas to promote cooperation in the future, Prime Minister Pham Minh Chinh suggested that FII continue to research and expand investment cooperation; connect businesses in FII's investment network to expand research, development and production and business activities in Vietnam, contributing to the development of Vietnam's technology ecosystem. In particular, Prime Minister Pham Minh Chinh suggested that Foxconn Group transfer technology and build a semiconductor chip factory in Vietnam.

Prime Minister Pham Minh Chinh affirmed that Vietnam creates favorable conditions for foreign investors, including FIIs, to invest effectively in Vietnam, and hopes that FIIs will share their experiences, contribute to building a technology ecosystem, innovation and promoting national digital transformation in Vietnam./.

(Vietnam+)

Source: https://www.vietnamplus.vn/thu-tuong-lam-viec-voi-cac-tap-doan-va-quy-dau-tu-phat-trien-cong-nghe-post1046359.vnp


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