New York · Fortune Technology
Vietnam has bold plans for its economic future. It will need U.S. tech, capital, and speed to make them happen
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Vietnam’s new government is sending a clear signal to the markets: growth is back in the driver’s seat.
Key facts
- The U.S. private sector spends nearly $1 trillion annually on research and development
- Executives in New York, Houston and Silicon Valley need to pay attention to Vietnam
- Even as other senior leaders traveled to Beijing, Prime Minister Lê Minh Hưng stayed in Hanoi to meet their delegation
- The government’s pledge to slash regulations in half—paired with Resolution 57, its national innovation framework—signals a leadership team trying to position Vietnam for the next phase of Asian
Summary
Even as other senior leaders traveled to Beijing, Prime Minister Lê Minh Hưng stayed in Hanoi to meet their delegation. Vietnam no longer wants to compete simply on cheap labor or favorable geography. Executives in New York, Houston and Silicon Valley need to pay attention to Vietnam. When Hanoi talks about technology partnerships, digital infrastructure, and innovation-driven growth, it is describing areas where the U.S. position is unmatched.