The Vietnam tech industry is booming, and the country is quickly becoming a software hub in Southeast Asia with a large number of qualified Vietnam software developers. This is due to the many initiatives that the government has put in place to protect the Vietnam tech industry from COVID. One of these initiatives is providing tax breaks to tech companies, and another is investing in new infrastructure projects that will support the tech industry’s growth. Vietnam is also working to attract foreign investors by creating a favorable environment for doing business.
The Vietnam Software Association (VINASA) has announced that Vietnam is now home to more than 16,000 IT companies and over 800,000 workers. These numbers make Vietnam one of the most popular destinations for software outsourcing in Southeast Asia. The country’s labor costs are also relatively low, making it an attractive destination for businesses globally.
What Has Vietnam Done To Protect The Tech Industry From COVID?
In the past few weeks, Vietnam has been making headlines for its efforts to protect the tech industry from COVID. With the skilled software developers, Vietnam has become a major software hub in Southeast Asia, and the government is doing everything it can to keep the industry growing.
The Vietnamese government has been working hard to ensure that COVID does not impact the tech industry. In fact, the government has put in place a number of measures to help protect the tech industry. The government has imposed a travel ban on all foreigners, and all schools and universities have been closed indefinitely. These measures are designed to prevent the spread of COVID in Vietnam.
Other measures include:
- Banning all non-essential travel to Vietnam for foreigners
- Closing schools and universities until the end of March
- Restricting the movement of people between provinces
In addition, the Vietnam government has also announced a number of financial incentives to support the tech industry. These incentives include tax breaks, subsidies, and low-interest loans. The government is hoping that these measures will help the tech industry continue to grow in the face of COVID.
So far, these measures have been successful! The Vietnam tech industry has not been impacted by COVID as much as the industries in other countries. This is due, in part, to the government’s efforts to protect the tech industry.
Vietnam Tech Industry
The Vietnam tech industry is a major contributor to the country’s economy! In 2019, Vietnam’s GDP grew by six percent, and the tech industry accounted for more than 40% of Vietnam’s GDP. There are now over 16,000 IT companies in Vietnam and more than 800,000 workers. Vietnam is expected one of the most popular destinations for software outsourcing service in Southeast Asia due to its labor costs being relatively low compared with other countries around the world.
After the pandemic, the measures set have been successful so far because Vietnam’s tech industry has not been as impacted by COVID as the industries in other countries. Vietnam’s tech industry is a major contributor to the country’s economy and is expected to grow even more in the coming years.
What is the effect of Covid on Vietnam Tech companies?
The Vietnam tech companies are expecting a significant impact from Covid. The epidemic has slowed production and disrupted global supply chains, which is affecting Vietnam’s export-oriented economy. However, the government is trying to do everything to keep the industry growing.
For example, they have set up special economic zones that are specifically designed to attract foreign investment. Vietnam also has plans to invest more in research and development to develop new technologies like artificial intelligence or robotics by focusing on the qualification of Vietnamese software developers.
As Vietnam continues its fight against COVID-19, some changes will be made to how we do business.
The government has set up special economic zones and is offering incentives to attract foreign investment. Vietnam will also invest more in research and development to develop new technologies like artificial intelligence or robotics. Vietnam’s efforts are remarkable, but what does this mean for businesses around the world?
The Vietnam government has been doing an amazing job of protecting the Vietnam tech industry from COVID. The country has become a significant software hub in Southeast Asia, and businesses worldwide are taking notice. Vietnam’s efforts to protect the tech industry will help it continue to grow and thrive in the years to come.
Vietnam’s efforts include providing tax incentives for companies relocating their operations into Vietnam and promoting IT training programs on top universities across Vietnam. Vietnam is also working hard to attract foreign investment by protecting the tech industry from COVID-19!
Thanks & Kind Regards,
Thanh (Bruce) Pham – CEO of Saigon Technology Solutions
Thanh (Bruce) Pham strives to deliver successful projects maximizing value for the Client by clearly establishing the project objectives and risks, controlling the programs and costs and proactively managing the project teams.
Email: [email protected]
A Member of Forbes Technology Council
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Skype: tienthanh.pham (Thanh Bruce Pham)