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Vietnam gears up to become SE Asia's Silicon Valley

Posted: 09 Sep 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Silicon Valley? hardware manufacturers? IT? Hi-Tech Park?

Vietnam is poised to become the Silicon Valley of Southeast Asia, according to an article posted by PC Mag.

The national government has pinned its hope to the technology sector, deeming it as the country's cornerstone of economic growth. Apart from investing heavily in infrastructure, Vietnam has also passed several economic policies to entice both domestic and international entrepreneurs to do business in the country.

Vietnam has a population of more than 90 million with a median age of 30.3, and it currently enjoys a growing number of young engineers, coders, entrepreneurs and students. The young and skilled population is seen to propel technological innovation and economic growth in the country.

A decade and a half ago, Vietnam barely had any information technology (IT) companies, the article noted. Today, about 14,000 IT businesses in the country cover hardware, software and digital content.

Da Nang

The fourth largest city in Vietnam, Da Nang, is popular for its beach resorts, but it is slowly being recognised as a hi-tech sector. The city's infrastructure is now suited for a major economic growth, thanks to the government's efforts in building a new airport and a highway-system.

In 2012, IBM established a satellite office in the city and even awarded Da Nang as one of the 33 winners of the company's Smartest Cities Challenge. Da Nang received a $50 million grant to improve the city's infrastructure within three years.

A part of Vietnam's 2020 IT Master Plan, the Da Nang Hi-Tech Park is home to factories and offices for several international hardware manufacturers, infrastructure plants, and IT and software companies.

In addition, hundreds of engineers and IT specialists are graduating annually from the system of universities from Hanoi in the north to the central city of Da Nang and Ho Chi Minh City in the south. Companies such as Samsung, LG, Toshiba, Sony, HP, Fujitsu, Cisco, Intel and IBM hire many of these graduates immediately.

In October, Ho Chi Minh City will host a tech conference that will expect more than 150 multinational tech companies along with 20 universities and at least 200 Vietnamese IT and outsourcing companies.

- Stephen Padilla





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