With Vietnam’s economy growing at a fast pace (world’s second highest in rate after China), its IT sector, in particular, is booming as fast. But it seems like the industry is moving at a more positive direction. Just recently, a memorandum of understanding (MOU) was signed in ${bigcity_Ho_Chi_Minh_City:”Ho Chi Minh City”}, of which, the US Agency of International Development and Intel Group is investing US$2.5 million in improve technical education at five leading Vietnamese engineering universities. The five pilot Vietnamese beneficiaries include the Hanoi University of Technology, the HCM City University of Technology, Can Tho University, the HCM City Technical Teaching University and Da Nang University of Technology. Of the entire investment, Intel Group is contributing the 1.5 million USD.

The three-year program will focus on training lecturers, helping them to compile curricula, draw up lesson plans and apply advanced teaching methods in Vietnam. As part of the program, 25 Vietnamese lecturers from engineering universities will be provided with summer training courses every year at the Arizona State University (ASU) and the Portland State University (PSU). The experts will focus on developing multi-faculty training programs and pay attention to the applicability of the programs. They will continue to receive further help and consultations on how to apply new teaching methods from US specialists after finishing their training courses.

With these developments, it is clear that there is huge interest in Vietnam in terms of foreign direct investments. That could spell a very big statement on the country’s economy. Major international companies have started to appreciate the economic potential of the country, where an investor who puts in a dollar for business in Vietnam knows that his investment is alive. Though many have traded with the country in the past, the advantage of Intel’s name and reputation is getting the lion’s share of attention, of which, has placed Vietnam in a more positive position to better jumpstart its economy. This recent development will produce more jobs in the future and help increase the number of projects in the field of high technology in the country.