Prospects for ICT investment cooperation between Korea and Vietnam

Korea - Vietnam ICT Cooperation Prospects Conference. Photo: VL

According to the representative of Da Nang City's leadership, many years ago, information technology (IT) was identified by Da Nang as one of the five key economic sectors prioritized for development.

In fact, Da Nang City is gradually becoming an attractive destination, gathering investors, startups and IT enterprises, and is the leading locality for many consecutive years in terms of IT readiness index and digital transformation of the country.

In 2023, the total revenue of the IT industry will reach 36,571 billion VND, an increase of 8.1% compared to 2022. Software export turnover will reach 147.8 million USD, an increase of 12% compared to 2022. Da Nang's digital economy in 2023 will contribute about 20% of the city's GRDP structure (achieving the set target by the end of 2025).

Mr. Tran Ngoc Thach - Deputy Director of the Department of Information and Communications of Da Nang City said that the city currently has 2.3 digital technology enterprises/1,000 people (ranked 2nd after Ho Chi Minh City and 3 times higher than the national average). The number of digital technology human resources is about 53 thousand people.

On May 13, 2024, the Politburo issued Conclusion No. 79-KL/TW on continuing to implement Resolution No. 43-NQ/TW, emphasizing the focus on developing Da Nang into a center for innovation and startups, a center for training high-quality human resources in the fields of semiconductors and artificial intelligence; expanding the development space for the city to successfully achieve the goal of completing the construction of a smart city by 2030, synchronously connecting with smart urban networks in the country and the ASEAN region.

Korean ICT companies are increasingly interested in Da Nang. Photo: IPA

In order to achieve these goals, Da Nang has been building groups of policies and solutions, focusing on 3 groups of solutions on infrastructure, human resources and preferential policies to encourage investment. Specifically, Da Nang is preparing land funds, infrastructure of concentrated IT zones, software parks, high technology for ICT enterprises to deploy projects in the city. International fiber optic cable network infrastructure, electricity and traffic infrastructure, logistics fully meet the requirements of investors in ICT, microchips, semiconductors and artificial intelligence.

In particular, fostering and developing human resources and attracting experts in the fields of ICT, microchips, semiconductors, and artificial intelligence.

Da Nang currently has 37 human resource training facilities related to the IT industry. The total number of students graduating each year in the IT industry and other industries related to microchips and semiconductors (such as telecommunications, mechatronics, automation, etc.) is about 6,000.

Universities have cooperated closely with prestigious international partners (from the United States, Korea, Taiwan) to improve the quality and quantity of training according to international standards in the fields of ICT, semiconductors and artificial intelligence.

In the field of cooperation with Korean partners, Korea is currently one of the key markets attracting investment in Da Nang. Korean enterprises always have the largest number of foreign direct investment projects in the city with 279 projects and always maintain their position in the top 5 in terms of total investment capital of countries investing in Da Nang, with a total investment capital of 382 million USD.

Increasingly deep cooperation between Da Nang universities and Korean partners. Photo VH

Mr. Kang Boosung - Consul General of the Republic of Korea in Da Nang said that since the establishment of diplomatic relations between Korea and Vietnam in 1992, the relationship between the two countries has achieved remarkable achievements, especially in the economic field. In 2023, bilateral trade turnover exceeded 76.1 billion USD, making Vietnam the third largest trading partner of Korea. In the field of investment, Korea is currently the largest investor in Vietnam with a total accumulated investment capital of 85.9 billion USD.

On the basis of active exchanges, the relationship between the two countries has been upgraded to a “comprehensive strategic partnership”. The leaders of the two countries also agreed to strengthen and expand cooperation in many fields, including technology and science, information and communications, agriculture, energy, etc.

This agreement is being practically implemented through the establishment of the Vietnam-Korea Institute of Science and Technology (VKIST) and the promotion of IT cooperation projects in the field of Korea-Vietnam digital transformation. Keeping up with this trend, Korean enterprises investing in Vietnam are also expanding into new industries such as high-tech industry...

Cooperation between Korean investors is gradually expanding to many fields including IT. Photo: VH

“The Korea-Vietnam ICT Cooperation Prospects Conference was held to share diverse perspectives and thoughts on the current state of the Korean semiconductor industry, which is attracting much attention from Vietnam, the perspectives of experts from VKIST Institute, as well as the prospects and roles in ICT cooperation between the two countries.

In particular, through this conference, we hope that more Korean ICT enterprises will promote investment in the Central region of Vietnam, opening up many career opportunities and future for Vietnamese students," Mr. Kang Boosung emphasized.

Source: https://baoquangnam.vn/trien-vong-hop-tac-dau-tu-ict-han-quoc-viet-nam-3139641.html