Best countries for information technology jobs

New mission of the ICT industry Minister of Information and Communications Nguyen Manh Hung says Vietnam’s information and communications technology (ICT) industry has a rare opportunity to reposition itself. If the ICT industry continues to focus on assembly, processing and outsourcing, he said at a conference reviewing 2020 developments and presenting tasks for 2021, it would stagnate. However, if it adopts the “Make in Vietnam” strategy for the development of Vietnam’s digital technology enterprises, mastering technology, designing, renovating and producing in Vietnam, it would spur the country’s gross domestic product (GDP) growth by two to four times. The “Make in Vietnam” strategy will also turn Vietnam into a prosperous, developed and high-income country by 2045. The belief is further strengthened by data showing that Vietnam currently ranks second in the world in manufacturing phones and components, and 10th in manufacturing electronics and components. These are also two of Vietnam’s 10 main export products, making the ICT industry the largest export and trade surplus sector of the economy. In early 2020, the prime minister issued Instruction 01/CT-TTg on promoting the development of digital technology enterprises in Vietnam. By the end of the year, over 13,000 digital enterprises have been set up, a yearly increase of 28 percent, raising the total to more than 58,000 businesses. The target of 100,000 digital enterprises by 2030 appears feasible by 2025. Notably, Vietnam has been able to rapidly develop digital products to contend with Covid-19 and adapt to a new normal, from Ncovi, Bluezone, CoMeet apps for contact tracing and online meetings to online learning platforms, remote medical consulting and remote accounting and business management platforms. “Perhaps Vietnam is the world leader in designing digital platforms during the Covid period. We would not have been able to do so had we not mastered these technologies,” Minister Nguyen Manh Hung …

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In June last year, Ngo Dinh Vuong halted the operation of his garment factory in Quang Minh Industrial Park in Hanoi’s Dong Anh District due to the health crisis. The factory was opened in late 2018 and is the third to have been opened by Vuong in the northern region of the country since 2016. Then in July, the second factory, based in Hung Yen Province, faced the same plight, leaving the first factory operating moderately also in Hung Yen. The three factories are managed by Hoang Yen Garment and Trading JSC, established in 2016, where Vuong is the director. However, in early January, the two factories with halted operations began resuming operations as some big contracts have been landed with local and foreign experts. This would allow 800 workers to have incomes. “We are happy that all of our three factories are in full operations now,” Vuong told Nhan dan Online. Hoang Yen Company’s case is among more than 11,000 enterprises resuming operation in the first two months of this year nationwide. According to the General Statistics Office (GSO), also in the first two months of 2021, the economy saw 18,100 newly-established enterprises with total registered capital of VND334.8 trillion (US$14.55 billion), employing 172,800 new labourers – up 4% in the number of enterprises, 52.2% in capital, and 9.7% in the number of labourers as compared to those in the same period of last year. In particular, the average registered capital of each newly-established business in the two months of the year is VND18.5 billion (US$804,347), up 46.4% year-on-year. If an additional VND385.6 trillion (US$16.76 billion) registered by 6,500 operational enterprises is included, the total registered capital inserted into the economy in the first two months is VND720.4 trillion ($31.32 billion). In February, despite the Lunar New Year, the number of newly-established firms hit more than 8,000 registered at VND179.7 trillion (US$7.81 billion), down 20.3% in the number of enterprises …

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Instead of purely offering foreign investors a manufacturing base, Vietnam places more and more emphasis on R&D. Photo: Shutterstock South Korean conglomerate LG in early February declared to add about $750 million to its LG Display Vietnam facility in the northern port city of Haiphong, raising its total investment capital to $3.25 billion. The move took place as COVID-19 returned. Suk Myung Su, general director of LG Display Vietnam said that this subsidiary is one of LG’s key projects across the globe. “In the coming time, we expect the local authorities to keep facilitating a safe investment climate, thus assuring stability for our long-term plans.” Su’s statement partially reflects how important the Vietnamese market to the entire corporation is, especially as its LG Electronics branch has suffered tremendous losses in overseas markets. As of the end of December, LG Electronics recorded accumulated losses of $4.5 billion over 24 consecutive quarters. As a result, the parent company has been attempting to restructure its entire operations, including shifting the majority of its business segments to Vietnam. According to Korea Times, LG targets the country as its average labour cost is much lower than in South Korea, helping the company to save a sizable expense. Moreover, the growing living standards in Vietnam are also appeasing. Tran Anh Tuan, founder of research and development (R&D) company MESLAB, told VIR that the local electronics and home appliances market is very promising, as it is driven by the growing expenditures for these items. “Therefore, LG chose to accelerate many projects in Vietnam, thus using it as its main supply base for products and new tech. Furthermore, its arch rival – South Korean Samsung – has poured immense capital into Vietnam, so LG cannot stand around with its arms crossed,” added Tuan. Following a string of big foreign-invested ventures in Vietnam, LG is working with local authorities to receive …

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