In this regard, the two countries have agreed to expand collaboration across various fields, including technology, science, information, communication, agriculture, and energy. This agreement is being practically implemented through the establishment of the Vietnam-Korea Institute of Science and Technology (VKIST) and the promotion of IT cooperation projects in the digital transformation sector between South Korea and Vietnam.
South Korea is currently the largest investor in Vietnam, with a cumulative total investment capital of US$85.9 billion. South Korean Consul General in Da Nang Kang Boo Sung stated that South Korean businesses in Vietnam are diversifying their investments from traditional manufacturing to high-tech industries. Realizing this is a new sector, many South Korean ICT companies operating in the Central region have placed great importance on training human resources from top local universities.
According to Deputy Director Tran Ngoc Thach of the Department of Information and Communications of Da Nang City, the local area currently has 2.3 technology companies per 1,000 residents (ranking second after Ho Chi Minh City). The workforce of digital technology professionals is approximately 53,000 people. To attract foreign investors in the field of ICT, Da Nang City focuses on three key solution areas such as infrastructure, human resources, and incentive policies to encourage investment.
Regarding infrastructure, Da Nang authority is poised for land reserves and concentrated information technology infrastructure zones, software parks, and high-tech facilities for ICT companies to implement projects in the city.
Da Nang has 37 educational institutions providing training of information technology. The annual number of graduates in information technology and related fields (such as microelectronics, semiconductors, telecommunications electronics, and automation) is around 6,000 students.
Notably, the National Assembly recently issued Resolution No. 136/2024/QH15 to pilot certain special mechanisms and policies for the development of Da Nang City. These policies include added incentives in the field of information technology, microelectronics, and artificial intelligence.
The conference serves as an opportunity for South Korean enterprises to explore the ICT investment environment in Central Vietnam in general and Da Nang in particular. It aims to further enhance investment cooperation between South Korean businesses and Vietnam creating expanded employment opportunities for students.
