Industry News

Vietnamese IT firms to improve earnings, reach overseas markets

Vietnamese IT firms to improve earnings, reach overseas markets

 - Created date22/12/2022

Vietnamese firms accounted for 27 percent of the Information and Communications Technology (ICT) industry's earnings in 2022, a 2.35 percent 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 percent 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, an 11.6 percent increase from the previous year, and a $26 billion surplus.

Notably, the report said more than 60 percent 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 percent increase year-to-year.

A key objective for the industry shortly 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-recognized internationally.

Read more: Vietnam Software Outsourcing

About TMA

TMA Solutions was established in 1997 to provide quality software outsourcing services to leading companies worldwide. As an offshore software development center (ODC), we are one of the largest software outsourcing companies in Vietnam, we provide high-quality IT outsourcing and innovative software solutions with the software development life cycle (SDLC) process and agile approach. We can guarantee exceptional solutions, and craft tailored solutions for your needs. Our engineering team was selected from a large pool of Vietnam IT resources; they are well-trained and have successfully completed many large and complex projects.

Source: Vietnam News