HP Inc. is looking to expand its production capacity in Vietnam with planned investment ranging from US$2 – 3 billion, Antoine Colin, HP Senior Vice President for Global Supply Chain Digital Transformation & Resilience, told Prime Minister Pham Minh Chinh at a meeting in Hanoi on June 20.
Colin noted that the US-based technology provider in personal computing, printing, and 3D printing is currently working with more than 40 suppliers in Vietnam. HP Vietnam was established in 1996.
Receiving the businessman, PM Pham Minh Chinh praised HP’s investment activities as well as its effective and practical contributions to Vietnam’s economic development and Vietnam-US cooperation.
He stated that the Vietnamese Government is committed to providing all possible favorable conditions, including institutional reforms, to enable foreign investors, including those from the US, to operate effectively in Vietnam. He stressed the importance of legal compliance and resolving obstacles based on the principles of harmonized interests, shared risks, joint effort, mutual success, and shared development.
Regarding tariff negotiations with the US, the PM stressed that Vietnam is committed to building an independent, self-reliant economy while actively engaging in proactive, substantive, and effective international integration. He welcomed the transfer of technology and investment into Vietnam as well as the use of local labor, materials, and components.
The PM called on HP to expand its investment in Vietnam and encourage other businesses and partners to do the same, particularly in areas where Vietnam sees significant potential for cooperation and priority, such as high technology, sustainable development, and artificial intelligence. He also urged HP to play an active role in advocating for US tariff policies that are mutually beneficial.
Agreeing with the Government leader, Colin expressed confidence that the two nations would find a mutually beneficial solution to tariff issues and affirmed HP’s support for Vietnam in the negotiation process.
He said that Vietnam is a key market where HP is confident of achieving success. Colin noted that the country is undergoing a strong transformation in improving its investment and business environment, presenting opportunities to enhance its national competitiveness.
Colin affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region, aiming to adapt to the new situation. He said the company plans to accelerate investment, technology transfer, and innovation in the market.
The PM said the National Assembly had passed the revised Law on Corporate Income Tax, which will take effect on October 1, 2025.
The Government is in the process of drafting guiding regulations, including provisions on corporate income tax for foreign contractors. These will ensure no double taxation on the same income generated in Vietnam and align with international practices and real-world business operations.
