(VEN) – Information technology (IT) has been growing at an impressive rate of 30 percent per year, playing an important role in Vietnam’s socioeconomic development. Great revenues According to the Vietnam Software and IT Services Association (VINASA), the Vietnamese IT industry has seen a steady growth in the past few years. The industry reached revenues of more than US$70 billion in 2017, creating over 780,000 jobs. Of which, the hardware industry contributed to more than US$60 billion, accounting for about 86 percent of total revenues. Most of the industry is foreign invested, with major corporations pouring billions of US dollars to build electronic component manufacturing factories in Vietnam. The Korean giant Samsung built eight factories and one research and development center in Vietnam at a total investment of more than US$17.3 billion. LG spent US$1.5 billion on a new factory in Hai Phong City, which specializes in assembling TVs, mobile phones, washing machines and air conditioners, while Intel Corporation, the world’s largest chipmaker, opened a US$1.04-billion chip assembly and testing facility at the Saigon Hi-Tech Park in Ho Chi Minh City. IT development has contributed to positioning Vietnam on the world map, making it one of six leading destinations for… Read full this story
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