Vietnam’s tech and investments
Unlike any other time in my life, this Lunar New Year, I stayed at home and read a bit about information technology and investments in Vietnam. The Tet festival was a mix of good and bad news. While some provinces and cities had been applying strict measures to cope with Covid-19 spreads, the good news came with new projections for the country’s development in terms of foreign direct investment (FDI) in tandem with new economic priorities road-mapped by the 13th National Party Congress.
Hai Phong was highlighted as a new venue for Pegatron, a Taiwanese electronics manufacturer, as they firmly purchased a $22.9 million land plot for a new plant to be built later this year. Previously, Pegatron broke the news with a $1 billion production capacity project[1].
In Ho Chi Minh City, a further $475 million investment would be added to Intel Products Vietnam’s $1.5 billion total[2].
According to the General Statistics Office (GSO), Vietnam reached $50.9 billion in the export of phones and components, or 18.1 percent of its export turnover[3].
Those numbers are some among the bigger picture. A total of more than 30 thousand projects operating in the country as of the end of 2020, with $384 billion in capital, speaks to the current developments in high-tech sectors. For Vietnam to maintain the current growth momentum, it needs to invest more on quality human resources.
References:
[1] Mario McKellop. (January 6, 2021). Report: Pegatron acquires land for new factory in Vietnam. https://www.theburnin.com/industry/pegatron-building-new-vietnam-factory-2021-01-06/
[2] Intel invests Additional $475 Million in Vietnam. https://newsroom.intel.com/news/intel-invests-additional-475-million-vietnam/#gs.twgd41
[3] Viet Anh. (February 15, 2021). Vietnam’s advantages in the evolving international supply chain. https://e.vnexpress.net/news/news/vietnam-s-advantages-in-the-evolving-international-supply-chain-4228280.html
