Vietnam to Focus on Six Hi-tech Industries

Vietnam will focus on developing six hi-tech industries including electronics-information technology, engineering, metallurgy, chemistry, food and energy industries under a draft on hi-tech development strategy from now to 2020.

 

According to the draft being compiled by the Ministry of Industry and Trade, investment in scientific research for these industries will be increased from 0.2 per cent-0.3 per cent of revenues at present to 3.5 per cent-5 per cent by 2015 and 8 per cent-10 per cent by 2020.

 

Investment in technological upgrade will be raised from the current 8 per cent-10 per cent to 10 per cent-15 per cent by 2015 and 20 per cent by 2020. Meanwhile, the development strategy will highlight investment in hi-tech human resources.

 

By 2020, hi-tech sectors are expected to meet domestic demand and join international production chain.

 

At a recent workshop discussing the draft, Deputy Minister of Industry and Trade Do Huu Hao said financial weakness as well as poor management and personnel shortage are the biggest weaknesses of Vietnam’s hi-tech industries.

 

Besides, the current legal system has failed to encourage the application of high technology among industries.