Vietnamese IT firms to improve earnings, reach overseas markets

Vietnamese firms accounted for 27 per cent of Information and Communications Technology (ICT) industry's earnings in 2022, a 2.35 per cent increase from the previous year, according to a report by the Ministry of Information and Telecommunications (MIT).

The industry reported earnings of US$148 billion, an 8.7 per cent increase from the previous year while making a contribution of $34 billion to the country's GDP this year. The Southeast Asian country continued as one of the region's top exporters of ICT products with $136 billion in exports of ICT hardware, a 11.6 per cent increase from the previous year, and a $26 billion surplus.

Notably, the report said more than 60 per cent of the firms have made the switch from software outsourcing to producing their own solutions and creating added value. During the year, more than 70,000 new firms have entered the industry, a 9.6 per cent increase year-to-year.

A key objective for the industry in a near future is to master and develop indigenous technologies, especially in the fields of artificial intelligence (AI), Internet of Things (IoT), cloud computing and 5G as well as the proliferation of domestically-made ICT products and services that are well-recognised internationally.

Source: vietnamnews