Vietnam holds tremendous potential for information technology (IT) development thanks to its young and talented human resources and attractive investment climate, thereby becoming one of the brightest investment destinations for Indian firms, an Indian expert has said.

Sanjay Gupta, Corporate Vice President at HCL Technologies, attends the virtual seminar. 

Sanjay Gupta, Corporate Vice President at HCL Technologies, made the remark during a virtual seminar on Vietnam’s key macroeconomic policies to cope with the COVID-19 pandemic and potential sectors for long-term investors held by the Vietnamese Embassy in India on August 7. 
 
The event drew the participation of about 100 businesses, investors, experts and scholars of the two countries.
 
At the event, Vietnamese delegates updated their Indian counterparts about the Vietnamese Government’s policies in the context of COVID-19 and potential sectors for investment, stressing that the country has become a bright spot in both economic recovery and fighting the pandemic.
 
With an open economy and favourable business climate, Vietnam boasts potential to become of the nations with the fastest economic growth in the world in the post-pandemic period. 
 
Gupta also spoke highly of the Southeast Asian country’s incentives in IT development. 
 
He noted that the number of Indian companies invested in Vietnam’s IT field, standing at only 23 so far, has yet to match with the potential of the sector and the cooperation potential between the two countries.
 
HCL Technologies is working on a major investment plan worth hundreds of millions of USD in Vietnam, he said, which may employ 8,000 people in the upcoming fiscal year especially in the software and service sectors. 
 
The Indian company also eyes the establishment of one of its largest hubs in Southeast Asia in Vietnam, he added.
 
HCL Technologies, a multinational IT service and consulting company, is the third largest IT firm in India with 150,000 employees working in 47 countries and territories across the world.