In mid-April, PacBio, a life science technology company headquartered in California (USA), chose Da Nang to organize the annual Genetic Science Conference called PRISM. This is the first time Vietnam has become the venue for an event that brings 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 organisms. This technology is applied in medicine to detect pathogens, diagnose genetic diseases, as well as to improve farming processes in the agricultural industry.
Mr. Jason Kang, Vice President and General Manager of the Asia-Pacific region of PacBio, 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 and highly precise technologies is very important for the future of the industry," said Mr. Kang.
Not only expanding the market and providing solutions, a series of American "giants" have recently promoted outsourcing and investment activities, as well as seeking cooperation opportunities in many high-tech fields.
In early April, Qualcomm announced the acquisition of MovianAI - a subsidiary specializing in developing generative artificial intelligence (genAI) of VinAI. This is the second prominent M&A information in the AI field of an American enterprise, after Nvidia's acquisition of VinBrain - an artificial intelligence company of Vin Group - at the end of last year.
Also, in a meeting with Deputy Prime Minister Nguyen Chi Dung in mid-April, Qualcomm's Senior Vice President of Engineering Jilei Hou also expressed his desire to build the world's third largest research and development (R&D) center in Vietnam, specializing in AI.
In the semiconductor field, Intel, in early April, expressed its desire to find more suppliers in Vietnam.
Or in the aerospace industry, at the end of last year, Reuters reported that the Wistron factory in Ha Nam had begun processing new components for billionaire Elon Musk's SpaceX company. At the same time, the KP Vina factory producing components for Boeing also went into operation in the Da Nang High-Tech Park.
Chairman of the American Chamber of Commerce in Vietnam - Da Nang Chapter (AmCham Da Nang) Christopher Vanloon said that 27 years ago, when he first came to Vietnam, what impressed him were the plastic chairs and beer bars. Today, this place has produced 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 ranked 10th in foreign direct investment (FDI) 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, up 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 at the end of last year, the organization surveyed its members and identified 3 major opportunities in Vietnam including potential growth in domestic consumption, updated economic reform process and increasing middle class.
According to the report "Innovation and Private Capital Investment in Vietnam 2025" by the National Innovation Center (NIC) and Boston Consulting Group (BCG), Vietnam is a strategic destination for high-tech and innovation capital flows. This is thanks to an export-oriented manufacturing strategy and capital flows into higher-value sectors. In addition, the domestic consumer market is booming thanks to the rapid growth of the middle and affluent classes.
Mr. Christopher Vanloon said that Vietnamese colleagues in their 40s and 50s often have thrifty habits. But their children are as modern and sophisticated as any consumer in Malaysia or Thailand. "They spend more, care more about health, longevity and quality of life," he said.
According to experts, the Vietnamese government is proactive in creating a favorable environment for the next economic breakthroughs, focusing on modernization, sustainable development, and innovation. According to reports from NIC and BCG, these core factors help Vietnam attract more and more attention from domestic and foreign investors.
Mr. Jason Kang at PacBio Asia-Pacific also noticed that Vietnam is increasingly focusing on high technology. "I am impressed with Ho Chi Minh City, Hanoi and Da Nang - large 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.
In terms of gene technology - the field in which PacBio is operating - Vietnam has 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 that Vietnam is "at the forefront of the digital and AI revolution", with a digital economy of 36 billion USD and forecast to maintain double-digit growth.
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 will open up for Vietnam. Because this country has a young and talented workforce, a government focused on developing high technology, and a stable political and social environment.
The Chairman of AmCham Da Nang confirmed that human resources are Vietnam's strength. "The Vietnamese government is focusing on investing in technology education, especially English - a key factor in global technology integration," Mr. Christopher said.
However, to attract more high-tech "eagles" from the US, some improvements are still needed. The CEO of AmCham Vietnam pointed out 3 main challenges for US businesses in the survey at the end of 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, and at the same time attract new companies to Vietnam," Mr. Kenneth Tse gave an example.