CNA: Vietnam’s evolution as a hub for tech innovation
Vietnam is rapidly emerging as one of Southeast Asia’s most dynamic economies, driven by a young and educated workforce that is making its mark on the global tech and business landscape, reported regional broadcaster Channel NewsAsia (CNA).
Singapore (VNA) – Vietnam is rapidly emerging as one of Southeast Asia’s most dynamic economies, driven by a yꦫoung and educated workforce that is making its mark on the global tech and business landscape, reported regional broadcaster Ch𒐪annel NewsAsia (CNA).
It said despite global uncertainties and shifting trade dynamics, the country has maintained its stability and robust growth. In the first half of 2024, Vietnam’s economy grew by 6.42%, making it among the 20 fastest-growing in the world.
A strong focus on technology and innovation is helping position Vietnam as a rising force in the information and communications technology (ICT) and semiconductor industries.
CNA stressed that supported by over 70,000 tech firms, Vietnam’s ICT sector has seen significant growth, with revenues surging from 60.9 billion USD in 2016 to 154 billion USD in 2023.
Vietnam’s skilled tech professionals, coupled with its national digital transformation vision, have made the country an attractive hub for emerging talent, as well as research and development. Global tech giants such as Amazon, Samsung, Sumitomo Corporation, and Lego have established operations here to leverage the potential of advanced technologies.
The country’s strides in artificial intelligence readiness, ranking 39th globally last year, and its ambitions to become a major contributor to the global semiconductor value chain by 2045, highlight its growing technological momentum.
With free trade agreements covering 56 markets, Vietnam has become a prime destination for foreign direct investment, which rose to 36.1 billion USD last year, a 32% year-on-year increase. Additionally, Vietnam ranked seventh in the 2023 Global Service Location Index, which measures the attractiveness of offshoring destinations. Notably, it is one of the only five countries to attract over 10% of global greenfield investment since 2017.
With a median age of 33.1 years, Vietnam’s youthful population produces 57,000 IT graduates annually, making it a major source of IT talent worldwide. Over 1 million Vietnamese work in this sector, asserting the country’s growing influence in the industry, it added./.
Vietnam is making a concerted effort to position itself as a major player in the global hi-tech landscape, with focus on attracting foreign investment in the burgeoning semiconductor industry, Deputy Minister of Planning and Investment Nguyen Thanh Trung told a press conference in Hanoi on May 4.
Vietnamese experts and intellectuals living abroad have agreed that Vietnam has significant opportunities to develop the semiconductor industry and needs to prepare conditions to effectively attract investment in the packaging sector.
Under the European Union (EU)’s global initiative on Chemical, Biological, Radiological, and Nuclear (CBRN) Risk Mitigation Centres of Excellence (CoE), Vietnam has implemented numerous projects aimed at strengthening national capacity in detecting, preventing, and preparing for CBRN-related threats.
The course aims to promote knowledge exchange between scientific and educational schools from different countries, while deepening participants’ expertise in modern technology and technical education. It comprises two main specialisations of electronics-automation and nuclear technology.
ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
As Vietnam’s digital transformation accelerates, both the frequency and severity of cyberattacks are growing. The National Cybersecurity Association (NCA) reported that in 2024 alone, there were some 659,000 separate cybersecurity incidents, impacting around 46.15% of government agencies and businesses.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
Ambassador Nguyen Minh Vu laid stress on the significance of the Hanoi Convention, particularly to the Asia – Pacific, to handling legal gaps in international cooperation against rapidly increasing global cybercrime.
