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In 2022, Vietnamese Information and Communications Technology (ICT) firms demonstrated significant growth, contributing 27 percent to the industry's earnings, marking a 2.35 percent increase from the previous year. According to a report by the Ministry of Information and Telecommunications (MIT), the ICT industry in Vietnam saw a substantial rise in overall earnings, reaching $148 billion. This represents an 8.7 percent growth from the previous year, with a notable contribution of $34 billion to the national GDP. Export and Trade Success Vietnam has solidified its position as a leading exporter of ICT products in Southeast Asia. The country exported $136 billion worth of ICT hardware in the past year, reflecting an 11.6 percent increase from the previous year. This impressive performance also resulted in a $26 billion trade surplus in the ICT sector. The continued growth in exports highlights the expanding global reach and competitiveness of Vietnamese IT firms. Shift from Outsourcing to Innovation A significant trend within the industry is the shift from traditional software outsourcing to the development of proprietary solutions. The report reveals that over 60 percent of firms have transitioned towards producing their own technologies, creating added value in the process. This strategic shift aims to enhance the industry’s capability to develop indigenous technologies and solutions that can compete on a global scale. Surge in New Entrants The ICT sector in Vietnam experienced a robust influx of new companies, with more than 70,000 new firms entering the market, marking a 9.6 percent increase from the previous year. This surge indicates a vibrant and expanding industry landscape, with growing opportunities for innovation and collaboration. Strategic Objectives and Technological Focus Looking ahead, a key objective for Vietnamese IT firms is to excel in developing and mastering indigenous technologies. The focus areas include artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and 5G technologies. The aim is to proliferate domestically-made ICT products and services that achieve international recognition and success. TMA Solutions: Leading the Way Scale and Technical Capability TMA Solutions exemplifies the strength and capability of Vietnamese IT firms. With a team of over 4,000 software engineers, TMA is well-equipped to handle large and complex projects. The company's expertise spans a wide range of advanced technologies, including AI, IoT, Big Data, Cloud Computing, and Blockchain. This extensive technical capability positions TMA as a prominent player in the industry, capable of delivering high-quality solutions across various sectors. Global Client Network TMA Solutions has established a strong international presence, with significant operations in North America, Europe, and Asia. This global reach not only broadens their perspective on diverse customer needs but also enables them to provide tailored software solutions that meet specific regional demands. TMA's international experience and client network are pivotal in driving their continued success and growth in the global market. Conclusion The Vietnamese ICT industry is on an upward trajectory, with impressive earnings, export success, and a growing number of innovative firms. The shift towards developing proprietary technologies and expanding into global markets underscores the sector's potential and ambition. Companies like TMA Solutions are leading the way, showcasing the technical prowess and global reach that define Vietnam’s burgeoning IT landscape. As the industry continues to evolve, the focus on mastering cutting-edge technologies and enhancing global competitiveness will be crucial in driving future success and achieving international recognition. Read more: Vietnam Software Outsourcing Source: Vietnam News

South Korean electronics giant Samsung announced plans Tuesday to increase its investment in Vietnam from $18 billion to $20 billion. Samsung’s new Research and Development Center in Vietnam has been completed and will soon come into operation, focusing on research on phones, computers, and network systems, Vietnam News Agency quoted Han as saying.In upcoming big fairs, Samsung will exhibit leading hi-tech products and solutions, and if there are partners, the firm will manufacture them in Vietnam. Samsung Electronics Vietnam reported export turnovers of $65.5 billion in 2021, helping turn Vietnam into a global smartphone manufacturing hub. The Vietnamese president also met Tuesday with Hyosung chairman Cho Hyun Joon, who said the South Korean industrial group has invested $3.5 billion in Vietnam.Source: VnExpress

For Vietnam's government, digital transformation is a must for the country's continued economic success. According to projections, Vietnam's Gross Merchandise Volume (GMV) will increase by 28% in 2022, making it one of the most rapidly developing digital economies in Southeast Asia. It is projected that by 2030, the digital sector will account for 30% of Vietnam's GDP. Digital transformation: key to Vietnam's development The COVID-19 Impact Accelerating the country's digital push helped Vietnam handle COVID-19 rather well, making it one of the few nations to do so. It will take a lot of work, but Vietnam may provide the groundwork for its domestic institutions to embrace cutting-edge digital technologies and become a digital powerhouse in the future. The role of EVFTA in Vietnam's transition to digital By improving Vietnam's legal framework for digital transformation and fostering the growth of electronic commerce between the European Union and Vietnam, the EVFTA will contribute to the expansion of Vietnam's digital economy and progress. This will be achieved by regularly and fruitfully discussing the regulatory issues that digitization and e-commerce have raised. With the steady improvement of e-commerce rules, legislation, and frameworks, Vietnam will be able to go forward with its digital transformation. Digital Transformation: The Cornerstone of Vietnam's National Plan Vietnam hoped to complete two primary objectives by the century's midpoint. One goal, as stated by Prime Minister Pham Minh Chinh at COP26, is to reach net-zero carbon emissions by the year 2050. Another is to achieve high-income status by 2045, as stated in a resolution passed by the 13th National Party Congress. To achieve these objectives, digital transformation is essential. Many national programs emphasize it as a major priority for that reason. The primary areas that this digital revolution will impact Manufacturing The majority of industrial organizations currently have access to digital technology, making this industry ripe for digital transformation. Most companies are involved in processing and assembly, so manufacturing-related technologies are often well-received. Technologies such as robotics, automation, and monitoring and control fall under this category. Finance and Banking The financial technology industry in Vietnam is growing at a remarkable rate, considering its youth. In 2021, digital payments facilitated the majority of the venture capital invested in Vietnam (93%). The rapid growth of e-commerce, the massive number of smartphone users, and robust internet penetration in the country are all factors that have contributed to the rise of FinTech. E-commerce Online shopping is booming in Vietnam, making it one of the country's most dynamic digital economy sectors. The e-commerce market in Vietnam is growing at a rate of 35% annually, which is 2.5 times quicker than Japan, according to VECITA. Online shopping in Vietnam is expected to reach a new high of 16.4 billion USD in revenue, setting a new standard for this sector. Logistics The impact of digital transformation on logistics is a growing worry for both governments and corporations. The Vietnamese Minister of Industry and Trade, Nguyen Hong Dien, has stated that the country's logistics service sector will expand rapidly and ethically in response to international demand. The Ho Chi Minh City People's Committee has disseminated a plan for the digital transformation of the local logistics sector from 2022 to 2025, with an eye toward 2030. By 2025, the city will have completed developing digital platforms that connect multimodal transport services, a consolidated data repository, and a digital logistics map. There has been a lot of success, but far more work remains before Vietnam catches up in the development of its digital capabilities. This will ensure that the country's digital economy can benefit all citizens equally. To top it all off, Vietnam is ready to embrace digital change. Source: Source of Asia

Vietnamese tech firms are expected to grow rapidly in both the mid and long-term thanks to rising IT demand around the world and rapid digital transformation at home. Statista, a German company specialising in market and consumer data, said IT services spending is expected to amount to 1.28 trillion USD and 1.39 trillion VND in 2022 and 2023, up 7.9% and 8.8%, respectively.The Vietnamese Ministry of Information and Communications targeted 100,000 digital firms in Vietnam by 2025, a rise of 56.25% from 2021. The telecom segment is expected to grow stably thanks to a rise in the number of broadband subscribers (8-10%), and a boom of 4G and 5G services. Notably, Vietnam has advantages in its IT workforce market.Read more: Vietnam Software Outsourcing in 2023According to HSBC, 51 percent of programmers in Vietnam are 29-30 years old. The hourly wage for. IT outsourcing software development in Vietnam is about 18 USD, equivalent to 64% in other Asian nations and 10% in the US. Therefore, customers from big markets like the US, Japan, the EU and Asia-Pacific have selected Vietnam as an ideal destination for cooperation in IT development.Source: vietnamplus

TMA Solutions, a prominent player in the IT software industry, marks its 25th anniversary with a rich history of innovation, growth, and commitment to quality. This milestone reflects the company's sustained excellence in delivering technology solutions and services worldwide. With a broad global presence, significant technical expertise, and a dedication to human resource development, TMA Solutions stands out as a leader in the software industry. Business and Technology Achievements Over the past 25 years, TMA Solutions has made substantial contributions to both business and technology. The company has served customers from 30 countries, a testament to its global reach and ability to meet diverse client needs. With 12 offices strategically located in Vietnam and overseas, TMA has developed over 1,000 applications, addressing various technological challenges across industries. Innovation has been a cornerstone of TMA's success. The company has introduced more than 20 new products and received four awards for its technology solutions that supported COVID-19 prevention efforts. These achievements underscore TMA's capability to respond to global crises with innovative solutions. TMA's physical infrastructure further supports its technical endeavors. The company boasts over 1,500 square meters of lab space and 50,000 square meters of office space, providing a solid foundation for its extensive research and development activities. Human Resource Development and Community Engagement TMA Solutions has placed significant emphasis on human resource development, recognizing that a skilled workforce is crucial to its success. The company collaborates with over 50 universities, ensuring a continuous influx of fresh talent. TMA has also conducted more than 2,000 training courses, helping employees stay abreast of emerging technologies such as 5G, AI/ML, Big Data, IoT, and robotics. The company’s commitment to community engagement is evident in its extensive social activities. With over 400 social events and 500 sports and music activities, TMA fosters a vibrant work environment. The company has also organized more than 2,000 football matches, reflecting its dedication to promoting a healthy and balanced lifestyle among its employees. TMA's impact extends beyond its immediate workforce. The company has sent over 1,200 employees abroad, enhancing their skills and global perspectives. Additionally, TMA has provided opportunities for over 10,000 interns, contributing to the broader industry by nurturing the next generation of IT professionals. With more than 100,000 resumes processed, TMA’s recruitment efforts are a testament to its commitment to growth and excellence. Experience and Reliability With over 25 years of experience in the software industry, TMA Solutions has established itself as a reliable partner for businesses worldwide. This extensive experience is particularly valuable in a rapidly evolving industry where expertise and reliability are key differentiators. TMA’s long-standing relationships with clients in 30 countries highlight its ability to consistently deliver high-quality services, even as market dynamics change. Scale and Technical Capability TMA Solutions' scale and technical capability are significant advantages. The company employs over 4,000 software engineers, enabling it to manage large and complex projects efficiently. TMA's expertise spans a wide range of cutting-edge technologies, including Artificial Intelligence (AI), Internet of Things (IoT), Big Data, Cloud Computing, and Blockchain. This broad technical capability allows TMA to offer comprehensive solutions tailored to the specific needs of its clients. Commitment to Quality Quality is at the heart of TMA Solutions' operations. The company adheres to international standards such as CMMI Level 5, ISO 27001, and ISO 9001, ensuring that its services meet the highest levels of quality and security. These certifications enhance customer trust and distinguish TMA from competitors who may not have achieved similar standards. TMA's commitment to quality is a key factor in its sustained success and ability to maintain long-term client relationships. Global Client Network TMA Solutions' global client network is a reflection of its ability to understand and meet the diverse needs of businesses across different regions. With a strong presence in North America, Europe, and Asia, TMA has developed a broad perspective on customer needs, enabling it to deliver tailored software solutions. This global reach not only expands TMA's market opportunities but also provides clients with the assurance that they are working with a company that understands the complexities of operating in different cultural and regulatory environments. Conclusion As TMA Solutions celebrates its 25th anniversary, the company reflects on a journey marked by innovation, growth, and a steadfast commitment to quality. With its extensive experience, technical capability, and global reach, TMA is well-positioned to continue leading the IT software industry. Business owners looking for a reliable partner in technology can trust TMA Solutions to deliver solutions that meet their evolving needs, backed by a quarter-century of excellence in the field.

The CEO of Samsung Electronics met with Vietnamese Prime Minister Pham Minh Chinh and announced a US$850 million investment to manufacture semiconductor components in Thai Nguyen province on 5 August 2022.The investment will make Vietnam one of only four countries — alongside South Korea, China, and the United States — that produce semiconductors for the world’s largest memory chipmaker. Vietnam’s selection over more developed locations speaks volumes about the country’s rising importance in the semiconductor value chain.Vietnam’s industrial and technology policies have always granted the highest incentives for high-tech projects, including corporate income tax reduction and sales tax and land rent exemption. In 2020, as tech firms continued to exit China, Vietnam established a special working group to court high-tech investments by offering customized incentives beyond those specified by existing laws. Different Vietnamese prime ministers have met with executives of global tech giants to encourage investment in semiconductors.Vietnam Semiconductor Industry: Key Investment Hub 2021 - 2025Intel recently channeled an additional US$475 million into its assembly and test plant in Vietnam that produces core processors. Local tech corporations have similarly launched their own lines of low-end semiconductors for a wide range of applications. Such projects are laying the foundation for even more investments to come.The next step for Vietnam is to go beyond attracting foreign direct investment to integrating multinationals into its economy. Weaknesses in the country’s investment climate — including backward infrastructure, weak intellectual property rights enforcement, cumbersome procedures, underdeveloped supplier networks, and a shortage of local skills — must be urgently addressed.Source: East Asia Forum