Attract investors, but prioritize products rich in intellectual content

Lê Thanh Phong |

Vietnam's attractiveness to foreign investors is "measured" by numbers. In the first 8 months of the year, more than 20 billion USD of foreign investment capital poured into Vietnam, an increase of 7% over the same period last year. In the first 9 months of 2024, foreign investment capital increased by 11.6%, approaching the 25 billion USD mark.

Take the 8 month and 9 month mark to see the huge difference in investment capital in just one month.

What economic analysts consider “interesting” is that not only has it attracted large amounts of capital, but investors have also chosen Vietnam to invest in technology projects that require a highly skilled workforce. Vietnam’s economic development strategy and foreign investment attraction is to prioritize the technology and green economy sectors. And perhaps, investors have realized the “harmony” and have invested in Vietnam with projects that meet the requirements of creating value-added products.

The good news is that famous technology names have targeted Vietnam for business. At the meeting between Prime Minister Pham Minh Chinh and Mr. Nick Clegg - President of Global External Affairs of Meta Group, the information was given that Meta will expand the production of Meta's latest mixed reality device - Quest 3S in Vietnam in 2025. This is expected to create about 1,000 jobs. This information shows that Meta Group trusts in Vietnam's high-quality human resources.

A big name choosing Vietnam to invest in a technology project will be a valuable PR for Vietnam, from which we can expect new faces to set foot. Attracting many investors and many projects, but what Vietnam prioritizes must be projects that create products with high intellectual content.

When investors in technology projects come to Vietnam, it will bring many other fields, including human resource training to meet job demands. Not to mention, Vietnamese technology enterprises have the opportunity to participate, learn and grow.

To attract more investment, investors must trust in the effectiveness of projects implemented in Vietnam, the "owner" must be ready for two things. One is to prepare a highly skilled human resource to serve projects that create products rich in intellectual resources. The other is to continue to improve the investment environment, with open policies, in line with international practices.

Lê Thanh Phong
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