Vietnam is heavily encouraging technology development in almost every single sector. Lately, the country made it clear that tech development is one of its main concerns.
To date, Vietnam is considerably intense in terms of tech development. Accordingly, the country has integrated technology in many sectors for years.
According to local media, Sai Gon Giai Phong, the government has immensely developed Artificial Intelligence (AI) to replace manual and labor-intensive jobs. This is so although the country is facing challenges in so doing.
AI is not the one and only focus of the government. Moreover, Vietnam also prioritizes technology development for natural disaster prevention. Similar to Laos, this becomes of paramount importance since the country’s geographical condition poses a great threat.
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Furthermore, following the US-China Trade War, the country becomes Southeast Asia’s production hub for Korean giant, Samsung.
Also, since Vietnam also has an “issue” with China, the US sees the nation as a possible business partner. There is a rumor that the production of new Apple products will take place in Vietnam, thanks to the trade war.
Of course, the government is not the sole party who deserves such credits. Numerous tech startups also contribute to the efforts.
The Environment for Tech Startups
Some analysts even say that the environment of the country is positively supportive for such startups. With this in mind, there are talks that Vietnam might be one of the countries leading tech industries in the future.
This is not without any reason. There are reasons for the claims.
First of all, the country is a home for manufacturing plants for tech innovators all around the globe. This includes LG Electronics, Panasonic, Toshiba, and so forth.
Also, the nation is a part of several novel trade agreements. With its current condition, the country has privilege over its neighbor, such as Cambodia and Laos.
Viewing the human resources, a software engineer from the US tech giant Google mentioned that Vietnamese computer-science students belong to world’s highest performing ones due to their critical thinking.
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More importantly, the country is verily open to receive investment from foreign countries and companies pertaining to the matter. Some investors already made investment.
Last but not least, the country offers cheaper labor compared to China. Although this does not sound good enough, this is still one of the considerable factors.
However, local startups has just recently acquiring investment from more advanced Asian countries and others. With that being said, the country still has a long way to go though some opine that the way is bright.
