Deputy Minister of Science and Technology Bùi Hoàng Phương (right) meets Joe Nelligan, CEO of US-based Molex on Thursday. —VNA/VNS Photo

HÀ NỘI — Việt Nam values long-term cooperation with technology and high-tech companies and will continue to improve policies and create a favorable investment environment for foreign businesses, Deputy Minister of Science and Technology Bùi Hoàng Phương said on Thursday.

Phương made the remarks during a meeting in Hà Nội with Joe Nelligan, CEO of US-based Molex, saying Việt Nam would support foreign-invested enterprises with long-term investment plans.

Việt Nam is pursuing policies to encourage investment in high-tech production and wants companies such as Molex to strengthen links with domestic businesses, universities and research institutes, Phương said.

He said Việt Nam's universities and research institutions could provide Molex with a source of technical talent and support the development of a highly skilled workforce in the country.

The ministry would work with relevant local authorities to guide and support Molex in completing investment procedures, Phương said, adding that some administrative and licensing powers had been delegated to local governments to facilitate businesses.

Việt Nam is also increasing investment in science, technology and innovation, including databases, computing infrastructure, artificial intelligence platforms, telecommunications networks and digital connectivity. He said these areas could offer opportunities for Molex in line with its technological capabilities and development plans.

Molex has completed the initial construction phase of an expanded manufacturing plant in the northern Hưng Yên Province.

The 250,000-square-metre facility, located at Thăng Long Industrial Park II, will provide high-tech manufacturing, engineering and quality assurance capabilities to serve customers in the high-speed data centre sector.

Joe Nelligan, CEO of Molex, welcomed support from the Vietnamese Government and local authorities during the project's implementation, saying Việt Nam was becoming an increasingly important market for the company's investment activities.

The Hưng Yên facility is Molex's second site in Việt Nam. It currently employs nearly 5,000 people, with the workforce expected to increase to 8,000 by the end of 2026. Molex has operated in the country for nearly 20 years. — VNS