HP eyes US$3 billion production expansion in Vietnam

THE HANOI TIMES — The US tech giant HP plans to expand its production operations in Vietnam with an investment worth between $2 billion and $3 billion as the country emerges as a global manufacturing and innovation hub.

Antoine Colin, Senior Vice President for Global Digital Transformation and Supply Chain at HP, revealed this plan during a meeting on June 20 with Prime Minister Pham Minh Chinh in Hanoi.

Colin stated that Vietnam is a crucial market for HP's global strategy. He praised Vietnam’s impressive economic growth and its efforts to improve the investment environment and national competitiveness.

HP recently launched a new factory in Vietnam, built in just six months, a milestone reflecting the company’s confidence in Vietnam’s capabilities and responsiveness.

HP now partners with over 40 local suppliers and aims to develop a comprehensive manufacturing and innovation ecosystem in Vietnam, supporting the region’s evolving supply chains.

“HP is committed to faster investment and deeper technology transfer and innovation in Vietnam. We’re increasing production capacity, developing new products, and integrating AI into devices like next-gen laptops,” Colin said.

Vietnam welcomes long-term, high-tech investment

Prime Minister Chinh welcomed HP’s commitment and encouraged the company to strengthen its collaboration with the Vietnamese government, especially in developing high-tech supply chains and digital ecosystems.

He urged HP to continue collaborating with the Ministry of Finance and other relevant agencies as Vietnam finalizes legal frameworks to support large-scale, high-tech foreign investments.

“Vietnam is committed to facilitating lawful and fair investment for foreign businesses, including those from the US. We aim for harmony in benefits, shared risks, and shared success,” the prime minister said.

He encouraged HP to play a larger role in mobilizing US firms to invest in Vietnam’s priority sectors, such as sustainable development, artificial intelligence, and advanced manufacturing.

Chinh also called for support from US firms, such as HP, for a bilateral tariff policy that reflects mutual interests.

Commenting on US-Vietnam tariff negotiations, HP’s Vice President Antoine Colin affirmed that HP supports Vietnam throughout the talks and believes that both countries will find a mutually beneficial solution. 

He also expressed concern about the taxation of foreign contractors. In response, Prime Minister Chinh emphasized that the National Assembly and the Vietnamese government are actively reviewing relevant laws and regulations to address the challenges facing investors.

The recently passed revised Corporate Income Tax Law to take effect on October 1, 2025, is expected to provide explicit guidance on the taxation of foreign contractors. It will ensure that there is no double taxation on income generated in Vietnam, aligning with international norms and practical business needs.

Founded in 1939, HP Inc. is a global leader in personal computing, printing, and 3D printing technologies. The company has $55 billion in annual revenue and employs more than 50,000 people in 180 countries.

HP Inc. established its Vietnam office in 1996 and currently operates in Ho Chi Minh City with a staff of nearly 100 people.

To celebrate 30 years of operations in Vietnam, HP Inc. has partnered with local businesses to launch the “Green Earth Campaign” to restore 50 hectares of forest in the northern province of Hoa Binh by 2025.