Digital tech firms enter new phase
Conquering the world market
Truong Gia Binh, Chair of the FPT Corporation, said that since opening the first overseas office in India more than two decades ago, the corporation has expanded operations to 29 countries, with annual revenue from overseas projects reaching US$1 billion, and a workforce of 27,000 employees.
The FPT Corporation introduces its AI technology at an exhibition |
Tao Duc Thang, Chair and General Director of the Viettel Group, said Viettel began investing abroad in 2006 and is now present in 10 foreign markets with revenue reaching nearly US$3 billion. This is a 21 percent jump year-on-year, maintaining double-digit growth for six consecutive years, 6.8 times the world average, and trending to equal its revenue from the domestic market.
Viettel currently holds the number-one position in Laos, Cambodia, Myanmar, East Timor, and Burundi.
Minister of Information and Communications Nguyen Manh Hung emphasized that Vietnam has many excellent digital technology firms. In 2019, the total revenue of the ICT industry was over US$112 billion generated by more than 45,000 digital enterprises. In 2022, despite the challenges posed by the COVID-19 pandemic, the figure increased to US$148 billion, up from over US$136 billion in 2021. More than 70,000 digital technology enterprises were registered in 2022.
Minister Hung said the time has come for Vietnamese digital technology firms to conquer the world market and turn Vietnam into a developed high-income country by 2045.
|
Opportunities for further development
According to Deputy Minister of Information and Communications Phan Tam, Vietnamese digital technology firms have developed rapidly in recent years. They provide products, services and digital solutions to help Vietnam accelerate its digital transformation, develop a digital economy and digital society, and contribute to reducing the global digital divide.
With the COVID-19 pandemic controlled, the demand for digital transformation has increased all over the world, creating a huge market for products and services. Meanwhile, the digital divide and rural people’s access to digital services, especially in developing and underdeveloped countries, remain a major challenge.
Data from the International Telecommunication Union (ITU) show that about 49 percent of the world population, i.e., nearly four billion of eight billion people, still have no access to the internet. This will create opportunities for Vietnamese digital technology firms to expand their market and contribute to resolving digital transformation-related problems facing other countries.
“In 2023, the Ministry of Information and Communications will work with overseas Vietnamese diplomatic missions and trade offices to promote the global presence of domestic digital technology companies,” Deputy Minister Phan Tam said.
Nguyen Thien Nghia, Deputy Director of the Authority of Information Technology and Communication Industry under the Ministry of Information and Communications, said Vietnamese digital technology firms have dynamic and creative human resources and are able to compete in the global market.
Ravi Vajpayee from the Indian Business Chamber (Incham) in Vietnam, said high-quality human resources are an important factor deciding the success of information technology firms in the international market.
Kully Nelson from the US Embassy in Hanoi said the US has a huge information technology market with a large number of Big Tech companies, promising cooperation opportunities for Vietnamese businesses in this field.
The Ministry of Information and Communications will continue to organize conferences and forums to promote investment in digital trade, participate in digital technology exhibitions and fairs abroad, and provide consultancy for the government on digital economy partnership agreements with other countries. |
See also
Handbook on digital transformation for SMEs introduced
06:00 | 04/07/2023 Digitalization
Vietnam Digital Awards 2023 spotlight data potential unlocking
06:00 | 28/04/2023 Digitalization
A321neo: Breakthrough technology saves fuel consumption up to 20%
15:37 | 29/03/2023 Science - Technology
TASConnect aims to serve Vietnam's supply chain finance market
16:06 | 23/03/2023 Digitalization
See more news
PM urges basic, comprehensive reform in digital transformation
06:00 | 06/03/2023 Digitalization
Vietnam’s AI leadership status improving
06:00 | 04/03/2023 Information technology
Welcoming the year of digital data for Vietnam
16:57 | 22/01/2023 Digitalization
Top 10 ICT developments in 2022
06:00 | 11/01/2023 Information technology
Customs sector leads in IT application
06:00 | 05/01/2023 Digitalization
Vietnam records best-ever performance in digital economic development
16:51 | 03/01/2023 Digitalization
Vietnam, a high potential blockchain market
06:00 | 07/12/2022 Digitalization
ETH Vietnam: The first hub for blockchain community to build and learn together
16:23 | 17/11/2022 Information technology
Energy industry masters advanced technologies
06:00 | 09/11/2022 Energy
Wolfoo product sets certificated as standard content
16:15 | 01/11/2022 Make in Vietnam
Leaders pay tribute to President Ho Chi Minh to mark his 134th birthday
10:05 | 19/05/2024 News and Events
Hà Nội Metro announces profit from the Cát Linh–Hà Đông metro line
10:00 | 19/05/2024 Economy
Cement makers call for scraping of clinker export tax
09:00 | 19/05/2024 Economy
Tourism sector goes green for sustainable development
08:22 | 19/05/2024 Tourism
Digital transformation in logistics - a key to unlocking sustainable e-commerce and economic development
07:00 | 19/05/2024 Economy
Multimedia
Việt Nam plans to preserve ethnic minorities’ intangible cultures at risk of disappearing
06:00 | 15/05/2024 Lifestyle
The Hải Phòng Red Flamboyant Festival celebrated the city's special UNESCO status
16:49 | 13/05/2024 Lifestyle
HCM City: top spot in Việt Nam for slow travel lovers
09:00 | 13/05/2024 Tourism
The Anam Cam Ranh named among Vietnam’s best family hotels
06:00 | 11/05/2024 Vietnamese Brands
Nguyễn Dynasty Urns in Huế make it to the UNESCO Memory of the World List
07:00 | 11/05/2024 Lifestyle
Tax, land rent payment deadlines to be extended this year
06:00 | 19/05/2024 Policy
Ministry proposes tax filing deadline extension for 2024
06:00 | 17/05/2024 Policy
Viet Nam targets to have 2 million enterprises by 2030
07:00 | 15/05/2024 Policy
Law on Telecommunications hoped to promote development of new telecoms services
06:00 | 13/05/2024 Policy
Energy giants plan for national power plan
06:00 | 18/05/2024 Energy
Vietnam charts vision for sustainable, modern fisheries
06:00 | 16/05/2024 Industry
Vietnam should seize opportunity to join global semiconductor supply chain
08:00 | 15/05/2024 Industry
Việt Nam's wood industry strives to match sustainable wood demands
07:00 | 14/05/2024 Industry
Delegation from EU, Netherlands explore investment opportunities in Thai Nguyen
07:10 | 18/05/2024 FDI
Desk established in Dong Nai to support Japanese investors
09:02 | 16/05/2024 Investment
Vietnam should not miss opportunities to attract FDI
08:00 | 14/05/2024 FDI
New wave of Chinese investment
06:00 | 12/05/2024 FDI
Banks raise interest rates to attract depositors
16:47 | 17/05/2024 Finance-Banking
Credit access obstacles lifted for collective economic entities
06:00 | 16/05/2024 Finance-Banking
Government urged to narrow domestic, global gold price gap
08:36 | 15/05/2024 Finance-Banking
Biometric verification ensures safer money transfers
17:23 | 13/05/2024 Finance-Banking
First provincial biodiversity museum launched in Quảng Nam
06:00 | 19/05/2024 Environment
Enhancing informal sector’s role in EPR implementation
06:00 | 18/05/2024 Environment
Centre opened to serve environmental data integration, monitoring network operation
06:00 | 16/05/2024 Environment
Capacity building for policy makers, large emitters on ETS and carbon market
08:48 | 15/05/2024 Environment
Semiconductor investment prioritized
06:29 | 17/05/2024 Science - Technology
Full cyber stream ahead Bắc Giang focuses on digital society development
06:00 | 11/05/2024 Science - Technology
35 localities piloting four-wheel EVs for tourists, despite no official legal regulations
07:00 | 09/05/2024 Science - Technology
2024 VinFuture Prize records 1,469 nominations
06:00 | 07/05/2024 Science - Technology
HCM City to complete 183km of metro routes by 2035
06:00 | 17/05/2024 Society
Railway sector gets creative to attract passengers
07:00 | 15/05/2024 Society
Việt Nam’s largest high-speed ship service from HCM City to Côn Đảo launched
07:00 | 14/05/2024 Society
Central Highlands to become renewable energy hub
08:58 | 13/05/2024 Society
Vietnamese agricultural products to take part in Foodservice Australia 2024
15:08 | 17/05/2024 Vietnamese Brands
PV GAS launches Month of Workers
10:22 | 16/05/2024 Companies
National Brand Program promotes prestigious Vietnam
13:09 | 15/05/2024 Vietnamese Brands
Largest made-in-Vietnam bulk carrier launched
17:07 | 13/05/2024 Vietnamese Brands
Việt Nam plans to preserve ethnic minorities’ intangible cultures at risk of disappearing
06:00 | 15/05/2024 Lifestyle
The Hải Phòng Red Flamboyant Festival celebrated the city's special UNESCO status
16:49 | 13/05/2024 Lifestyle
Nguyễn Dynasty Urns in Huế make it to the UNESCO Memory of the World List
07:00 | 11/05/2024 Lifestyle
European Literary Days focuses on gender
06:00 | 09/05/2024 Lifestyle
Tourism sector goes green for sustainable development
08:22 | 19/05/2024 Tourism
Vietnamese tourism information centre opened in India
08:00 | 18/05/2024 Tourism
Mysterious 'floating' lake discovered in Quảng Bình
16:54 | 13/05/2024 Tourism
HCM City: top spot in Việt Nam for slow travel lovers
09:00 | 13/05/2024 Tourism