Vietnam’s hi-tech industry is still in infancy, so there will be ample room for investment and development.
So Vietnam is in dire need of incentives and legal framework for venture capital funds for the industry, said Arthur Trueger, chairman of venture capital firm Berkeley International Capital Corp, in the 4th annual Technology Business Conference opened Wednesday in Ho Chi Minh City.
The country, therefore, has yet made a strong presence on the global hi-tech industry map despite its potentials.
But improvements are underway.
The country will set up 15 software parks and mobilize funding for training high-tech human resources, said Tran Duc Lai, Information and Communications Minister, told participants at the two-day event hosted by IDG Ventures Vietnam, DFJ VinaCapital, IBM and Strategic Alliance Vietnamese Ventures International.
Vietnam is considered a promising technology market. Last year the sector generated US$6.26 billion, accounting for 7 percent of Vietnam's GDP.
The number of internet users exceeds 22 million, a penetration rate of over 25 percent.
The digital content industry saw a dramatic growth rate of 50 percent with revenues topping $700 million. The software industry also achieved an impressive 40 percent growth rate and revenues of $880 million.
