Vietnam Govt to Spend US$58M on Software Industry Development by 2012
Vietnamese Prime Minister Nguyen Tan Dung has issued a decree to invest VND980 billion (US$57.8 million) from now until 2012 to boost the development of software and digital content industry.
Of the total, VND304 billion (US$17.9 million) will be used to inspect and collect data about the ICT industry, improve the government’s ability to manage ICT industry in 63 cities and provinces, and develop an IT market.
The government will pump the rest VND676 billion (US$39.9 million) into 11 projects including a portal for the software and digital content industries, a fund for software and digital development, an ICT complex, and another fund to nurture enterprises in the sector.
The decree will take effect from May 20.
Currently, Vietnam is ranked among top ten fast growing ICT nations, according to the reported by the International Telecommunication Union (ITU) late March.
The country’s software industry has targeted revenues of US$1 billion by 2010. It gained revenues of US$670 million in 2008, up 35 per cent. (Local sources)
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