The overseas business community is looking to invest in Vietnam, focusing on the fields of chip manufacturing, semiconductors, and commodity export.
The information was shared by Mr. Nguyen Hong Hue (Peter Hong), Chairman of the Association of Overseas Vietnamese Businessmen (BAOOV), at a press conference on March 16 in Ho Chi Minh City.
The government evaluates semiconductors as a key national industry in the next 30-50 years. According to the National Strategy on Semiconductor Industry, by 2030 Vietnam will become a center for the semiconductor chip industry with design, packaging and testing activities.
Wishing to contribute to the vision and development of the industry, Mr. Hue said BAOOV is actively preparing to support human resource training. Later this month, the association will launch its first specific activities. Details of the program to support human resource development and connect and invite investment in the semiconductor industry in Vietnam will soon be announced.
Nguyen Hong Hue, Chairman of BAOOV at the press conference on March 16,2024. Photo: Vien Thong
Along with semiconductors, overseas Vietnamese businesses evaluate the great potential of Vietnamese export goods, but there are not many private brands, the proportion in foreign supermarket shelves is still low and they are facing many trade defense lawsuits. . This requires increasing trade promotion and exchanging experiences between domestic businesses and overseas businesses - those who understand the consumer market.
Up to now, BAOOV has established and developed a system of centers to promote, display, introduce and export Vietnamese goods, especially key agricultural products in Korea, Taiwan, Japan, Laos, Russia, Australia and China.
There are currently about 6,5 million overseas Vietnamese living abroad. The amount of remittances sent home from 1993 (the first year of remittance statistics) to 2022 will reach over 190 billion USD, nearly equal to disbursed FDI capital in the same period. Last year, remittances reached 19 billion USD, an increase of 5% compared to 2021, putting Vietnam in the top 10 countries in the world in receiving remittances.
Ms. Phung Kim Vy, Vice President of BAOOV, said that overseas Vietnamese's investment, return to work, and business activities are vibrant. "More and more young overseas Vietnamese are returning to Vietnam, they are launching pads to contribute to the country," Ms. Vy said.
The diaspora community is also interested in owning a home in their homeland. Foreign nationals have begun to be able to buy houses in Vietnam since the 2014 Housing Law. However, the actual progress of issuing pink books to foreign nationals is still slow and unfavorable. “The overseas Vietnamese generation 60-70 years old are in need of buying apartments in Vietnam. I believe that if their names are owned, that stream of people will flock to Vietnam," Ms. Vy commented.
The Overseas Vietnamese Businessmen Association was established in 2009, with members from 40 countries and territories with tens of thousands of businesses. Among them, some overseas Vietnamese are on the list of world billionaires.
In January, BAOOV elected Mr. Nguyen Hong Hue - Australian overseas Vietnamese - as president. In the three previous Congresses, the former presidents of the association were Mr. Pham Nhat Vuong (Chairman of Technocom Group in Ukraine), Mr. Nguyen Canh Son (Chairman of EuroWindow Holding in the Russian Federation) and Dr. Nguyen Thanh My (Chairman of EuroWindow Holding in the Russian Federation). President of My Lan Group, Overseas Vietnamese in Canada).
Source:Vnexpress By Vien Thong
