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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.
Party economic blueprint highlights Vietnam’s hi-tech shift: Reuters ảnh 1At the 13th National Party Congress (Photo: VNA)

Hanoi (VNA) – Reuters news agency analysedfactors that can turn Vietnam into a sci-tech hub on an article published onFebruary 1, which commented on the Communist Party of Vietnam (CPV)’s aim for thenation to realise comprehensive development in 2045.

According to Reuters, with more than a dozen free tradeagreements now under its belt, Vietnam aims to expand and diversify exportmarkets.

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

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

The article added that according to the blueprint, thecountry will focus on measures to basically complete the elements of asocialist-oriented market economy, better handling the relationship between thestate and the market and society. It will also shift its focus on foreign directinvestment (FDI) from quantity to quality, with a focus on environmental risks./.
VNA
#Reuters#Communist Party of Vietnam#sci-tech hub#free trade agreements#Samsung#Intel#Apple#Vietnam#Vietnam News Agency#vietnamplus
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