Foreign investment flows into Vietnam’s high-tech sector remained lacklustre in the first five months of 2021, falling behind in meeting national expectations and forcing the country to change its approach.
High-tech park incentives under review 17:04 | 02/03/2021
Despite enjoying special incentives, foreign investment flows into Hoa Lac High-tech Park are yet to meet expectations â and possible moves to align all such parks with the same policies will only increase the competition between them as they try to persuade investors to pour money into  digital transformation ventures.
The countryâs three high-tech parks still have plenty of space to fill for new projects. Photo: Le Toan
Hoa Lac High-tech Park (HHTP) is now surrounded with complete infrastructure and favourable transport links which were expected to be an important factor for investment attraction. According to the parkâs Management Board, it attracted six projects with total investment of about VND9 trillion ($391 million) in 2020, including one foreign and five domestically-owned. They focus on research and development, manufacturing, and high-tech pharmacy.
The rate of public investment disbursement in 2020 was the highest in the last five years, contributing to enhancing economic growth and enabling Vietnam to be one of the highest-growth economies worldwide. With the government now enacting two resolutions on spurring economic growth and improving the local business climate, Deputy Minister of Planning and Investment Tran Quoc Phuong told VIRâs Nguyen Huong about the role of public investment in 2020 for the economy to move forward.
Prime Minister Nguyen Xuan Phuc addressing the opening ceremony of the first-ever Vietnam International Innovation Exhibition and the construction of the National Innovation Centre, Photo: Chi Cuong
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