The country’s three high-tech parks still have plenty of space to fill for new projects. Photo: Le Toan Hoa Lac High-tech Park (HHTP) is now surrounded with complete infrastructure and favourable transport links which were expected to be an important factor for investment attraction. According to the park’s Management Board, it attracted six projects with total investment of about VND9 trillion ($391 million) in 2020, including one foreign and five domestically-owned. They focus on research and development, manufacturing, and high-tech pharmacy. While the figure is higher than that of 2019, when the park lured in just four domestically-invested projects registered at VND7.46 trillion ($324 million), it was far lower than 2018, when it attracted 11 projects registered with VND17 trillion ($739 million), a record high over the past 20 years. Notable names involved included Nidec, Mitsubishi, and Hanwha Group. The result is lower than expected though the HHTP itself enjoys Decree No.74/2017/ND-CP which came into effect in 2017, governing special mechanisms and policies for the park only. Few social infrastructures such as workers’ housing, hospitals, trade centres, and other services have been licensed there. Industry insiders said that in the context that the country is promoting high-tech foreign investment and the trend of making business and investment in the local market among technology groups, the lacklustre foreign investment attraction of the HHTP has raised questions over how attractive it actually is. While COVID-19 is an obvious reason, others should be included, some added. Established in 1998, the filling rate of the park is now 40 per cent of its over 1,500 hectares. The HHTP boasts the longest history among the country’s three high-tech parks, and has the advantages thanks to Decree 74, which includes unique incentives such as the 10 per cent corporate income tax (CIT) within the first 30 years for a new investment project of at least VND4 …
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NATEC and Enterprise continue cooperation to unlock Vietnam’s innovation potential
Pham Hong Quat, director general, NATEC and Leon Cai, regional director (Ho Chi Minh City), Enterprise Singapore The Vietnamese agency (NATEC) and Enterprise Singapore (ESG) have renewed their cooperation for another two years. What will be the focuses in the next stage? How will it benefit the innovation landscape for Singapore and Vietnam? Pham Hong Quat: Singapore is considered to be the hub of innovation as well as a “paradise” for startups, with startup-friendly policies including subsidies and a range of incubation schemes. With its advanced IT infrastructure, strong government support, intellectual property laws, and deep tech talent pools, Singapore has become a world-leading technology innovation centre. Thus, the cooperation between NATEC and ESG will provide an open space for best practices and know-how sharing, particularly on the crafting and execution of startup and innovation supporting policies, as well as building and operating startup hubs. Through market access programmes and joint events, Vietnamese startups will have a chance to experience and benefit from peer-to-peer learning with their counterparts. Operating in the world’s leading and most vibrant ecosystem, Singaporean startup founders and teams have admirable skills and qualities, for example, creative thinking; entrepreneurship and management skills; fundraising and management; as well as research and development (R&D). Moreover, there will be a high chance that our startups can find great partners or clients in a new market. One of the biggest concerns for Vietnamese startups might be how to get funding from venture capital funds or angel investors and how to manage them wisely, especially during the crisis. Thus, what they need to focus on is acquiring valuable know-how and skills from their counterparts and taking any opportunity to interact and learn from experienced investors and mentors. Leon Cai: The renewed MoU will build on existing partnerships between …
Effective EVFTA, EVIPA to bring about more opportunities for Hanoi: AHK
The Hanoitimes - Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam, spoke with Hanoitimes about opportunities from a trade deal with the EU and what needs to be done to make use of it. I would express my respects to Hanoi’s encouragements in terms of trade and investment promotion. As the capital of Vietnam, Hanoi with a good infrastructure basis, completed industrial zones and convenient transportation, is one of the centers of economy, industry, trade, and services. Marko Walde, chief representative of the Delegation of German Industry and Commerce in Vietnam. Photo: AHK. The city’s implementation of its “one stop shop” mechanism is also evidence of its dedication to bring in a clearer and more transparent investment environment. By completing other infrastructure projects, especially the metro lines, they city would increase their attractiveness tremendously. From our point of view, for the long run, Vietnam and Hanoi should establish a stable and reliable legal framework and economic policy to support businesses, local and international ones. In particular, Hanoi should develop a practical oriented dual vocational training and education projects in order to gain high skilled labor force and support local businesses in improving their technology competence as well as their competitive advantages. Hanoi should continue improving general infrastructure as well as conducting a suitable platform for direct experience exchanges and direct dialogue between authorities and businesses as well as between local and international ones. As I mentioned before, for the purposes of sustainable development and attracting more high-value-added foreign direct investment, the legal and regulatory framework of many sectors and the economic policies should be improved further and be consistent. The other challenges are the lack of qualified workers in Vietnam, the undeveloped supporting industries, …
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