Vietnam to attract foreign investment in ICT

Vietnam targets to raise the proportion of Information and Communications Technology (ICT)’s value to GDP from 8-10 percent.

Vietnam will create the best condition for businesses to invest in the ICT, said Deputy Prime Minister Nguyen Thien Nhan at an international conference in Hanoi on March 31. The conference was held to develop Vietnam into becoming a strong ICT country.

Mr Nhan said that the Party, State and Government have paid great attention to developing ICT. In recent years, the industry has made significant contributions to the national development, reaching a total of US$7.4 billion in 2010.

The project made a turning point in the sector with an aim to develop ICT into a key economic sector. The project set out specific targets that Vietnam will become a top ten country in supplying software and digital manufacturing services as well as joining the top 40 countries in the world to train ICT students to international standards.

To obtain the target, Vietnam needs cooperation from international partners in infrastructure development, technological transfer and human resource training.

Mr Nhan emphasised that many foreign investors consider Vietnam a safe destination because of its political stability and cheap, abundant and industrious labour force. To improve the prestige, the Government will pay more attention to administration reform to create the best conditions for businesses to invest in ICT.

Director of the US Agency for International Development (USAID) in Vietnam, Frank Donovan said Vietnam is one of ten countries with ICT development prospects which will help the country to develop its economy in the future. – VOV

Tags: Vietnam ICT, Vietnam IT industry, Vietnam IT sector