Meta to expand investment in Vietnam

Cooperation agreements with US companies will boost Vietnam’s energy, AI, and tech infrastructure.

Meta plans to increase its investment in Vietnam, focusing on virtual reality production and innovation.

Vietnam’s President To Lam met with leading US firms in New York, pledging to strengthen the domestic tech sector. Discussions focused on boosting Vietnam’s digital transformation and enhancing strategic industries like AI and semiconductors. The Vietnamese president also held talks with major companies including Apple, Blackstone, and Warburg Pincus.

Meta, which already has millions of Facebook users in Vietnam, committed to increasing its investment in the country. Plans include expanding virtual reality production in Vietnam, signalling a stronger presence in the nation’s tech landscape. Meta’s Nick Clegg expressed confidence in Vietnam’s digital potential.

During Lam’s visit, cooperation agreements with US firms were signed. These agreements cover various sectors such as energy, artificial intelligence, and a new data centre initiative, further solidifying ties between the two nations.

The Vietnamese government emphasised that digital transformation will be key to future economic growth. Lam reaffirmed Vietnam’s commitment to advancing the tech economy and fostering innovation through international collaboration.