A co-working space. It appears that Viet Nam is best placed to become Southeast Asia’s Silicon Valley, the Asia Correspondent said in a recent article. It said the nation’s advantages stemmed from successful education policies, government support and an entrepreneurial spirit. — Photo Trung Thuy Group

It appears that Viet Nam is best placed to become Southeast Asia’s Silicon Valley, the Asia Correspondent said in a recent article. It said the nation’s advantages stemmed from successful education policies, government support and an entrepreneurial spirit.

Viet Nam is also benefiting from funding and government policies designed to turn the country into a regional hub for technology and innovation. An example of this is the ambitious “Silicon Valley Project” sponsored by the Ministry of Science and Technology, which aims to transform the country into a major player in the digital economy.

The article also quoted Google chief executive Sundar Pichai as saying during his trip to Viet Nam last year that the country would soon become one of Google’s most important markets. Pichai also pledged to train 1,400 IT engineers for Viet Nam.

Viet Nam’s appeal is bolstered by its tech-savvy workforce, which is cheaper than China’s and more productive than that of other countries in the AEC, the article said.

Initially, the country had emerged as a production center for Korean and Japanese electronics groups like Samsung, LG Electronics, Panasonic and Toshiba, which have had factories in Viet Nam for decades.

However, the focus now is on transitioning from being a top producer of electronic components to becoming a center for research, innovation and development, the article added. — VNS