Vietnam's high-tech sector has attracted global attention recently from world-leading tech giants like Intel and Samsung. Regarding its implications for Vietnam's burgeoning tech ecosystem, INCHAM Chairman - Mr. Indronil Sengupta, had a short interview with Vietnam Times Magazine.

According to Indronil Sengupta, Vietnam is currently one of the world's most attractive places in terms of FDI. 

"One of the biggest reasons is the stability of government policy. The government has done a great work in promoting FDIs and SMEs. The second reason is because of the "upwardly mobile" young population, meaning that consumer needs are constantly increasing. From an FDI perspective, who wants to cater to the Vietnamese market, this is a sign of good demand," said Sengupta.

Sengupta believes that beside the two big reasons above, the competitiveness of Vietnam's logistic industry also positively affects the impression of foreign investors.

"Vietnam, having signed so many Free Trade Agreements (FTAs) with different countries and different regional blocks, has become a very attractive destination for a global export base," said the Indian expert.

Also, thanks to the operation and the policy regarding its industrial parks, Vietnam allows foreign investors to quickly set up and start producing.

"In other countries, there are similar industrial park models to those of Vietnam. However, Vietnam was able to create the demand and the supply together. This helps make Vietnam an attractive destination for investors both before and after the global pandemic," he explained.

According to Sengupta, foreign investors will also consider the fact that Vietnam is only one of the few countries which did not have a negative growth during the coronavirus outbreak.

"Looking at year-on-year GDP growth, because Vietnam did not have any negative growth, maybe 2-3% growth, so the year-on-year GDP growth will show less. Whereas in many other countries it went down negative or zero, so the GDP growth [in Vietnam] will look much higher," Sengupta said.

Article link: https://vietnamtimes.org.vn/experts-vietnamese-government-provides-continuous-support-for-high-tech-companies-71678.html