(Hanoi, 20th) Vietnamese Prime Minister Pham Minh Chinh met today in Hanoi with Antoine Colin, HP Group’s Global Senior Vice President for Digital Transformation and Supply Chain, welcoming the group’s expansion of its investment scale in Vietnam.
Pham Minh Chinh reiterated that the Vietnamese government is always committed to creating a favorable and convenient business environment for foreign investors, including those from the United States, and emphasized that Vietnam will continue to advance institutional reform, uphold the principle of "shared benefits, shared risks," and properly address difficulties encountered by enterprises in their operations.
When discussing tariff issues between Vietnam and the United States, Pham Minh Chinh stated that Vietnam is committed to building an independent and self-reliant economy, while actively integrating into international markets. He encouraged foreign enterprises to strengthen technology transfer, produce in Vietnam, and prioritize the use of local human resources, raw materials, and components.
He suggested that HP not only further expand its investment in Vietnam but also attract more enterprises and partners to the country, particularly in high technology, sustainable development, artificial intelligence, and other priority sectors for Vietnam's development. He also hopes that the US side will seek mutually acceptable solutions on tariff policy.
Antoine Colin expressed strong agreement with Pham Minh Chinh’s suggestions and said HP would support Vietnam in advancing negotiations on tariff issues. He noted that Vietnam is a highly valued market for HP, and the group is full of confidence about its business development in the country.
He revealed that HP's newly built factory in Vietnam took only six months to begin operation, has established partnerships with over 40 local suppliers, and the group hopes to increase its capacity in Vietnam to between $2 billion and $3 billion in the future.
Regarding tax policy, Pham Minh Chinh added that the Vietnamese government and National Assembly are actively drafting amendments to tax laws to align with international practices. The revised Corporate Income Tax Law will take effect on October 1, 2025, and relevant implementation guidelines are being drafted, which will further clarify the tax obligations of foreign-invested enterprises and avoid double taxation.
Pham Minh Chinh suggested that HP should continue to maintain close communication with the Vietnamese Ministry of Finance and relevant departments, actively provide feedback during the process of drafting regulations, and flexibly use the existing policy framework as needed to provide necessary support for high-tech and advanced technology investment projects.