Vietnam faces the risk of becoming a technology waste dump

Tram Ho

Be alert to the risk of becoming a technology waste dump, choose a quality investment line so that Vietnam’s economy can develop sustainably.

According to the General Statistics Office, the Ministry of Planning and Investment, from the beginning of the year, has recorded a sharp increase in the flow of foreign investment from China into Vietnam.

Specifically, in 95 countries and territories with investment projects in Vietnam, Hong Kong (China) leads with a total investment of 5.3 billion USD and China ranks third with total investment capital. registered 2.29 billion USD, accounting for 12.4% of total investment capital …

Many experts said that this sudden growth in investment is due to complicated US-China trade war and the risk of this phenomenon will continue. This creates many disadvantages for trade and economy, threatening to make Vietnam a technology waste dump.

Economic expert Nguyen Minh Phong said that every country, especially China, is facing an urgent need to innovate technology breakthroughs, to be able to compete with markets that are applying very tax. High into this country. In order to innovate, they will have to replace all the old technology, leading to the fact that the generation of waste technology must find a way to move to other less developed countries, including Vietnam.

“Vietnamese enterprises need to be very alert when investing in cheap technology lines of other countries to export. Because if the surrounding countries change the technology system higher, their labor productivity will be higher and the cost will decrease. While Vietnam “embraces” less modern technology, it will be difficult to compete not only with the export market but also the domestic market, “Phong said.

In the same view, Mr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry (VCCI) said that China has a quite specific and clear strategy of using technology to make a breakthrough in development. economic, social and status in the world. Especially in the context of the US-China trade war, they will increasingly rush to accelerate their strategies.

“China is promoting the development of a series of new technologies of the fourth industrial revolution such as artificial intelligence, 5G, blockchain, machine learning … To apply these technologies, they are forced to replace the old technology is in use, ”Mr. Loc said.

 Việt Nam đối mặt nguy cơ trở thành bãi chứa rác thải công nghệ - Ảnh 2.

Mr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry.

According to the Chairman of VCCI, Vietnam is facing the requirement of a new phase to restructure foreign investment, towards investment flows with high quality, high added value and more environmentally friendly.

Capital inflows from the US, Europe or Japan are capital flows that meet that requirement. The European-Vietnam Free Trade Agreement (EVFTA) is the opening up of higher quality investment capital into the Vietnamese economy.

“When doing business with European partners – partners from one of the leading economies in the world in terms of trade to governance – Vietnamese enterprises will be able to upgrade themselves”, Mr. Loc added.

Mr. Loc also emphasized: “Playing with” giants “can help Vietnamese businesses upgrade to become modern and professional enterprises. In addition, this is also an opportunity to promote institutional reforms in the country to reach global standards.

In the vision to 2045, the Prime Minister sets out the goal that Vietnam will become one of the 20 most competitive economies and a global leading business environment.

Therefore, in the coming time, the Government of Vietnam remains steadfast in attracting selective foreign direct investment (FDI) for big, key projects and good development projects on the environment. and orient FDI inflows into industries that Vietnam needs in the future.

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