The Tuesday launch ceremony follows an agreement signed between the two sides in August. VNPT leads the center, which will also become one of Qualcomm’s Authorized Design Centers.

The VQEC aims to become a regional innovation and R&D center, connecting stakeholders across Vietnam’s technology ecosystem, from enterprises and research institutes to startups and universities.

It will specialize in developing intelligent electronic devices, network equipment, and AI-driven computing platforms, helping Vietnam strengthen its position in global value chains.

Speaking at the event, Akash Palkhiwala, CFO and COO at Qualcomm, said that the collaboration will focus on research, development, and commercialization of advanced technology solutions to support Vietnam’s ambition of becoming a regional tech hub.

“With the support of the Ministry of Science and Technology, we aim to drive innovation and expand AI applications across device categories, with Vietnam as a launchpad for global expansion,” Palkhiwala said.

He added that personal AI devices are emerging as a key trend worldwide, and Qualcomm is working with VNPT to pilot its new AI Box solution - a “data center in a box” designed to enable high-performance computing at the edge - in Vietnam.

Qualcomm, valued at about $160 billion, is a global leader in advanced wireless and 5G technology and is expanding into Edge AI. The U.S. company has operated in Vietnam for over two decades and launched its first Southeast Asia R&D center in Hanoi in June, following the acquisition of a 65% stake in AI firm MovianAI from Vingroup (HoSE: VIC).

Qualcomm earned a revenue of $38.96 billion in fiscal year 2024 (ending September 29), including 12% from Vietnam, the second-highest portion among all nations.

According to Qualcomm’s annual report for fiscal year 2024, China (including Hong Kong) was the biggest market with 66% of Qualcomm revenue. Vietnam came second with 12%, equivalent to $4.7 billion. Other major markets were the United States with 3% and South Korea with 7%.