Tech

The Saigon Hi-tech Park (SHTP) in Thu Duc City in HCM City. — VNA/VNS Photo The Saigon Hi-tech Park (SHTP) in HCM City has attracted more than US$12 billion in domestic and foreign investment since its establishment 20 years ago. Speaking at a meeting last week on the occasion of its 20th anniversary, Dr Nguyen Anh Thi, head of its management board, said it included 51 foreign direct investment (FDI) projects worth more than $10.1 billion. They include those by high-tech giants such as Intel and Jabil from the US, Nidec, Nipro, Nippon Telegraph, and Telephone (NTT) from Japan, Samsung from South Korea, and Datalogic from Italy. There were also 110 local projects worth $1.93 billion. Thi promised to offer favourable conditions to attract investment in the tech and supporting industries. For this, it had organised high-tech supporting industry development programmes to help local firms link up with lead firms through business matching activities, and building export … [Read more...] about Saigon Hi-tech Park attracts $12b worth of investment over 2 decades

With proper market understanding and lower prices of products and services, local IT companies are getting more prominent roles in the country's digital transformation. Local tech companies have gained a more significant part in the national digital transformation, and they are the core of the process, according to specialists and executives. Rikkeisoft staff at work. The company has expanded significantly in the last 10 years to become a leading IT firm in Vietnam. Photo: The Hanoi Times Ngo Minh Quan, Head of Digital Transformation and Solution Center at tech firm Rikkeisoft, said that Vietnam does not lag behind in digital transformation worldwide. Viettel's headquarters building in Hanoi. Photo: The Hanoi Times According to experts, local IT businesses can provide digital solutions that are of international standards, suitable for local taste, and much cheaper. … [Read more...] about Tech firms are standard-bearers in national digital transformation

Samsung Electronics’s smartphone plant in Bac Ninh. High-tech foreign investments are expected to significantly boost Viet Nam's GDP growth in the coming years. — VNA/VNS Photo High-tech foreign investments will continue to propel Viet Nam’s economic growth for years to come, Michael Kokalari, chief economist at investment fund VinaCapital, has said. Viet Nam’s economic growth has been accelerating this year, and so the World Bank, IMF and others have sharply revised up their GDP growth forecasts for the country, with an increasing number of economists now expecting it to exceed 8 per cent this year. This has prompted investors to ask what is different in Viet Nam and why. In a note, Kokalari said, quoting newly published research by economists at Harvard University, that one reason Viet Nam is an economic outlier is that FDI is supporting the country’s manufacturing while also driving an increase in the complexity of products produced in Viet Nam. An increase in the … [Read more...] about High-tech FDI drives Viet Nam economic evolution

Deputy Secretary of the Party’s Committee of HCMC, Chairwoman of the Municipal People’s Council Nguyen Thi Le led the city delegation to visit and work at  the Agricultural Technology Center. Director of the Agricultural Technology Center of Busan Kim Jeong Gook received the delegation and expressed his gratefulness for the fruitful relationship between Vietnam and Republic of Korea in general, between Ho Chi Minh City and Busan in particular, including the Agricultural Technology Center of Busan. Besides, Mr. Kim Jeong Gook also introduced the role and activities of the center as well as the agricultural achievements of the city. At the working session, Chairwoman of the City People’s Council Nguyen Thi Le impressed with the active development of the second biggest city of the Republic of Korea. In addition, Chairwoman Nguyen Thi Le was very impressive as Busan is a port city but it always pays attention to develop agricultural sector, including high-tech agriculture. … [Read more...] about HCMC exchanges experiences on high-tech agricultural sector in RoK

High-tech foreign investments will continue to propel Vietnam’s economic growth for years to come, Michael Kokalari, chief economist at investment fund VinaCapital, has said. Samsung Electronics’s smartphone plant in Bắc Ninh. High-tech foreign investments are expected to significantly boost Vietnam's GDP growth in the coming years. Vietnam’s economic growth has been accelerating this year, and so the World Bank, IMF and others have sharply revised up their GDP growth forecasts for the country, with an increasing number of economists now expecting it to exceed 8 per cent this year. This has prompted investors to ask what is different in Vietnam and why. In a note, Kokalari said, quoting newly published research by economists at Harvard University, that one reason Vietnam is an economic outlier is that FDI is supporting the country’s manufacturing while also driving an increase in the complexity of products produced in Vietnam. An increase in the complexity … [Read more...] about High-tech FDI drives Vietnam economic evolution

Delegates attend to the farms' ground breaking ceremony. — VNA/VNS Photo BaF Vietnam Agriculture Joint Stock Company on Wednesday started construction of four high-tech pig farms in southern Tay Ninh Province's Tan Chau District. Of them, three farms will be developed on a total area of over 66ha. They are designed to provide the market with 280,000 pigs each year, earning annual revenue of over VND1 trillion. Meanwhile, the fourth farm, spanning 12ha, is expected to have a revenue of VND260 billion each year. The four pig farms, which are slated for completion in the fourth quarter of 2023, will create 200 local jobs. A representative of BaF Vietnam Agriculture Joint Stock Company said although the domestic livestock industry in the first half of this year had encountered many difficulties, the company had made efforts to promote the appliance of high technology in pig farming so the number of its farms in 2022 still increased compared to that of 2021. According to Tay … [Read more...] about Work starts on four high-tech pig farms in Tay Ninh

Speaking at a conference Friday on the development of a scientific and technological market, he said the purpose of importing core technologies is to "decode, absorb and master [them] to speed up businesses’ technological renovation." At the conference, organized amid Vietnam’s efforts to link up research institutes and universities with businesses, Chinh affirmed the important role of a sci-tech market in developing a market economy and speeding up renovation to achieve economic breakthroughs, quality and competitive capabilities. He said in recent years Vietnam’s sci-tech market has been growing steadily with research institutes, universities and scientists churning out works that industry welcomes and businesses’ demand and ability to master new technologies also improving. Twenty technology exchanges have been set up to bring the two sides together, he said. But he admitted there is still much to be done to commercialize academic research, build strong and trusted … [Read more...] about Vietnam will encourage businesses to import core tech: PM Chinh

Illustrative image (Photo: SGGP) The World Bank (WB), International Monetary Fund (IMF) and others have sharply revised up their GDP growth forecasts for the country, with an increasing number of economists now expecting it to exceed 8% this year. High-tech foreign investments will continue to propel Vietnam’s economic growth for years to come, said Michael Kokalari, chief economist at investment fund VinaCapital, has said. In a note, Kokalari said, quoting newly published research by economists at Harvard University, that one reason Vietnam is an economic outlier is that FDI is supporting the country’s manufacturing while also driving an increase in the complexity of products produced in Vietnam. An increase in the complexity of the products a country is able to make is the single most powerful growth driver for a developing country's economy, according to the economist. “The recent announcements by Samsung, Apple and others make us confident that high-tech foreign … [Read more...] about Vietnam’s economic growth counts on high-tech FDI

Saigon Hi-tech Park expects to generate $23 billion in export turnover The Saigon Hi-tech Park Management Authority (SHTP) is set to see an export turnover of about $23 billion this year. According to SHTP , the export turnover of businesses in the SHTP in 2021 was $20.9 billion, making up 52 per cent of the total export value of Ho Chi Minh City. To date, foreign investors have poured capital into 51 projects in the park with a total accumulated figure of $10.1 billion. Many large groups such as Intel, Jabil from the United States, Nipro, Nidec from Japan, Samsung from South Korea, and Datalogic from Italy have contributed. Many manufacturers have continuously expanded their operations in the SHTP. Intel's assembly and test facility in the SHTP is now the US' biggest high-tech project in Vietnam. By Quan Oanh … [Read more...] about Saigon Hi-tech Park to hit $23 billion in export turnover

There are several challenges to blockchain technology going mainstream, especially in Viet Nam. – VNA Photo Blockchain technology is being adopted by governments and companies around the world, but there are still some challenges for blockchain to go mainstream in Viet Nam, including limited interoperability, security concerns and lack of regulations, experts have said. Blockchain is a type of digital ledger technology where data is stored in the form of “blocks” that are strongly linked together through cryptography. Tran Thien Duyen, CEO of Techfarm Technology JSC, told Viet Nam News that "blockchain technology is more than just cryptocurrency; it is a revolutionary way of tracking transactions". By reducing information asymmetries and transaction costs, blockchain can help businesses, especially small businesses, overcome long-standing challenges related to scale, opacity and lack of business history, according to Duyen. “While still in its infancy, blockchain is being … [Read more...] about Blockchain going mainstream – hype or reality?