International Business Machines Corp. (NYSE: IBM), the No. 2 computer maker, said it opened a new center in Da Nang, Vietnam, its third center in the Southeast Asian country.
As well, IBM, based in Armonk, N.Y., said it had chosen Da Nang, Vietnam's third-largest city, to be among its Smarter Cities alongside Rio de Janeiro, Miami and Zhenjiang, China.
The computer giant is already in Hanoi and Ho Chi Minh City. We are now expanding into new regions in recognition of the huge potential of the Vietnamese market, said Vo Tan Long, country general manager.
Da Nang University will get support from IBM as well the city's information and communications department, the company said.
IBM already sells to the Da Nang Hyatt Residence and Resort.
Other U.S. technology companies such as Intel Corp. (Nasdaq: INTC), the No. 1 chipmaker, have built plants in Vietnam since U.S. relations with the former adversary began in 1995.
IBM has been expanding rapidly in developing world countries such as Vietnam. In the second quarter alone, it announced new centers in Peru and Brazil, as well as Costa Rica, where President Laura Chinchilla presided over the opening of a new center on May 10.
The focus is also intended to spur growth into faster-growing markets than North America. Last year, Asia accounted for $25.3 billion, or about a quarter of overall revenue. Asian revenue rose 9.2 percent compared with North American revenue, which rose only 6.9 percent.
The trend has continued into 2012, when IBM reported revenue from the so-called so-called BRICS countries -- Brazil, Russia, India, China and South Africa - rose 9 percent while North American sales increased only 1 percent in the first quarter.
IBM shares fell 31 cents to $197.45 in Tuesday trading.