High-tech industry - Promising investment direction in Vietnam

The high-tech industry is being promoted by Vietnamese Government to create a driving force for the country's economic development. The Government has promulgated the National High-tech Development Program to 2030. The objectives are building and developing about 500 enterprises producing high-tech products; developing and mastering 20 prioritized high-tech technologies (Information and communication technology, biotechnology, automation, new materials, digital economy, e-commerce, logistics...), that will be achieving advanced level in the region; increasing the export value of high-tech products to about 60% of the total export value in the processing and manufacturing industry. Some important solutions for implementation include: Supporting research activities, technology transfer, intellectual property rights; Supporting and facilitating the application, production products and provision of services in high-tech fields; Promoting international cooperation in high technology.

Infrastructure for the development of high-tech fields has been formed and is continuing to be completed. Vietnam has many hi-tech parks across the country such as Hoa Lac Hi-Tech Park (Hanoi), Bio-High-Tech Park (Hanoi), Saigon Hi-tech Park (Ho Chi Minh City), Danang Hi-tech Park (Da Nang City)… These are areas with quality utility infrastructure, meeting the highest requirements of investors; tax incentives; having convenient locations for production and business; Simplified management process. The hi-tech parks have always received the most attention from the authorities at all levels, with maximum support in policies, investment and production environment, creating conditions to gradually raise the high- tech content in the industrial sector.

Vietnam has abundant human resources, increasingly high quality, meeting the requirements of high-tech fields. Vietnam's labor force (in working age) is estimated at over 55 million people. About 20% of them have technical qualifications. 46% of workers with technical expertise have university or higher degrees. The quality of training institutions in Vietnam is increasing. Many univerisy are internationally recognized and cooperated in training. The proportion of training disciplines in high-tech fields is increasing at training institutions in Vietnam, especially universities. Vietnamese workers not only work in the country but also export, work at research and production facilities in countries and territories around the world such as Germany, Japan, Korea, and Taiwan.

High-tech products are made in Vietnam can access to a large consumer market. The first market is the Vietnamese consumer market with a population of over 90 million people. The next market is the consumer market of ASEAN community with a population of over 670 million people. Because Vietnam is an active member of the ASEAN community; is an important gateway for high-tech enterprises to access and cooperate with ASEAN businesses and the ASEAN market in general.

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