Ho Chi Minh City courts US giants across tech, finance, culture

The contingent, led by the city's deputy chairman Nguyen Cong Vinh, has unlocked major cooperation opportunities in key strategic sectors during its weeklong U.S. tour, according to the municipal Department of Foreign Affairs. 

Spanning July 14 to 21, the trip covered key hubs including Los Angeles, Seattle, San Francisco, and New York.

Boosting cooperation in sports, culture

On July 15, at Universal Studios in Los Angeles, the Vietnamese city officials met with Universal, one of the world's leading media, entertainment, and content companies.

The two sides discussed Universal's integrated content ecosystem, spanning film production and distribution, theme parks, intellectual property (IP) development and licensing, music and publishing.

They also explored the potential development of the DreamPlay family entertainment model, based on DreamWorks Animation's IP, in Ho Chi Minh City, along with cooperation in film co-production and distribution, artificial intelligence (AI), virtual reality and augmented reality in entertainment, and creative workforce training.

Also in Los Angeles, the delegation visited SoFi Stadium to study its experience in planning, investment and operations of modern sports and entertainment complexes, with the findings expected to support the development of the Rach Chiec national sports complex in the southern Vietnamese hub.

The contingent learned about management, maintenance, security and safety, event organization and commercial operations at large-scale sports facilities, as well as preparations for hosting international sporting events and drawing large crowds.

The visit was seen as a practical step toward developing the Rach Chiec complex into a venue for major international events and a leading regional entertainment and events hub.

Connecting with global giants

On July 16, the mission visited Boeing's 737 MAX production facility in Renton and its aircraft delivery center in Seattle, Washington, where the planemaker observed aircraft production and deliveries to Vietnamese airlines.

The two sides discussed developing an aviation supply chain and supporting industries in Ho Chi Minh City, as well as establishing an international-standard maintenance, repair and overhaul center.

On July 17 in San Francisco, the visiting officials hosted a roundtable bringing together the Ho Chi Minh City administration and the U.S. business community, attended by Vietnamese Consul General in San Francisco Hoang Anh Tuan and representatives of nearly 20 U.S. technology corporations.

The event served as a platform to pitch the establishment of the Ho Chi Minh City Strategic Technology Development Center to U.S. tech giants and investors. 

Representatives from leading technology companies, including Intel, Qualcomm, NVIDIA, and Marvell, along with innovation-focused organizations, spoke highly of the city's potential and offered recommendations for developing a high-quality workforce and strengthening its innovation ecosystem.

Ho Chi Minh City officials emphasized that the city was not building another conventional industrial park but rather a high-tech ecosystem designed for AI, semiconductors, data centers, and high-performance computing.

The city also reaffirmed its commitment to supporting investors and promptly resolving obstacles they face, giving them confidence to invest for the long term.

On July 18 in New York, the delegation attended a finance roundtable with Ambassador Do Hung Viet, Vietnam's Permanent Representative to the United Nations, as well as experienced financial investors and organizations exploring investment opportunities in Vietnam for the first time.

Participants expressed positive views on Vietnam's economic outlook, acknowledged the country's recent reforms, and viewed the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC) as a mechanism to expand market access, facilitate capital flows, and develop financial services in line with international standards.

During the trip, Qualcomm also sent a letter expressing interest in VIFC-HCMC, recognizing the center's potential role in modernizing the financial system and attracting international investment.