EC funds software industry development in Vietnam

The European Commission (EC) will provide 150,000 euros (223,000 U.S. dollars) to support the development of software business in Ho Chi Minh City of Vietnam, the local newspaper Liberty Saigon reported Thursday.

The money will be used in a technical assistance project on the development of software businesses in Ho Chi Minh City till 2011.

The technical assistance project is part of the country's software industry development plan which was implemented in Ho ChiMinh City early last year.

The plan is under the cooperation framework and technical support between Vietnam's Ministry of Planning and Investment and the EC.

With a total investment of 16 billion Vietnamese dong (about 940 million U.S. dollars), the plan aims to develop 20 Vietnamese software companies in the city into the country's leading software businesses by 2010.

Source:Xinhua