Vietnam, example for successful development

Business Times said the Vietnamese Government has recognised the potential and benefit of investing in technology and the country is currently leading in digital development in the region. (Photo: VNA)

In its article published on July 1, Business Times said the Vietnamese Government has recognised the potential and benefit of investing in technology and the country is currently leading in digital development in the region.

New high-tech parks have been established in many localities, such as Hanoi and Ho Chi Minh City, while the benefits of teaching computer science at schools are beginning to bear fruit. 

The article said many foreign technology firms intend to transfer their production lines to Vietnam and make long-term investments when they see the potential of high-tech personnel in the country.

Meanwhile, smaller-scale entrepreneurial investors should focus their attentions on the increasing number of start-ups particularly in online services and fintech, where investors see the major potential for the Vietnamese economy to grow at speed.

In Vietnam, more than a million people are added to the workforce annually, giving them what some have termed a “golden population structure” - as a large workforce with competitive wages will boost production and consumption and act as a driver for growth, it noted. 

Vietnam continues to be a great example of successful transition and development, where foreign investors are willing and ready to participate in the economy, the article said.