Party economic blueprint highlights Vietnam’s hi-tech shift: Reuters

Reuters news agency analysed factors that can turn Vietnam into a sci-tech hub on an article published on February 1, which commented on the Communist Party of Vietnam (CPV)’s aim for the nation to realise comprehensive development in 2045.

At the 13th National Party Congress

According to Reuters, with more than a dozen free trade agreements now under its belt, Vietnam aims to expand and diversify export markets.

It cited the CPV’s economic development blueprint for Vietnam in the next five years, saying the country would boost its growing role as a key manufacturing hub for global giants like Samsung Electronics Co and Intel Corp. At the same time, the party is targeting raising the country’s profile beyond a low-cost labour destination to a centre for science and technology, the article added.

Reuters said despite the pandemic, in January, a unit of Foxconn Technology Co Ltd in Taiwan (China), a key Apple Inc supplier, obtained a licence to invest 270 million USD in Vietnam, while the US chipmaker Intel said it raised its investment in the nation by 475 million USD to 1.5 billion USD.

The article added that according to the blueprint, the country will focus on measures to basically complete the elements of a socialist-oriented market economy, better handling the relationship between the state and the market and society. It will also shift its focus on foreign direct investment (FDI) from quantity to quality, with a focus on environmental risks./.

VNA