Vietnam Remains Attractive to IT Investors
Vietnam remains an attractive destination for information technology and telecommunications investment, foreign participants said at the 4th Technology Business Conference in Ho Chi Minh City Wednesday.
Speaking at the two-day event, Nguyen Bao Hoang, managing general director of IDG Ventures Vietnam, said operation costs in Vietnam remained low, which is a competitive advantage for enterprises to do business here.
The roundtable aimed at exploring how to promote ICT development in Vietnam and how entrepreneurship and innovation in a developing country can bring economic success.
Hoang said foreign investors may flock to Vietnam with great opportunities for business development while rooms in South Korea and Japan are nearly occupied.
The Vietnamese government should also give more incentive policies and develop infrastructure further to welcome capital inflows, he noted. Experts and CEOs suggested the government make more policies designed to extend incentives toward small and medium-sized enterprises.
Vietnam’s ICT sector generated revenues of $6.26 billion in 2009, accounting for 7% of its GDP. The digital content industry posted a strong growth of 50% with revenues of $700 million, while the software industry also grew 40% with revenue of $880 million. (Saigon Times)
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