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Catalysing Vietnam’s Digital Ambitions

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Vietnam’s digital technology landscape has undergone a substantial transformation, witnessing a remarkable surge in both company numbers and revenue streams. Minister of Information and Communications, Nguyen Manh Hung, unveiled this impressive growth, citing a 30% rise in the count of digital technology firms and a staggering 32% increase in industry revenue since 2019.

Image credits: Ministry of Information and Communications

Addressing the fifth national forum on the development of digital technology businesses in Quang Ninh province, Minister Hung highlighted the industry’s strides over the past half-decade. Notably, the proportion of locally produced ‘Make-in-Vietnam’ products within the sector has ascended from 21% to an encouraging 29%.

A standout achievement emerged in software production for international partners, experiencing a substantial 43% uptick and engaging 1,400 companies, generating revenue close to the US$10 billion mark.

The forum provided a platform not only for reflecting on industry progress but also for recognising exceptional enterprises with the prestigious “Make in Vietnam” digital product awards. Minister Hung emphasised the new mission for Vietnamese digital technology businesses: spearheading national industrialisation and modernisation by crafting digital applications and fostering digital transformation across diverse sectors and fields.

Deputy Prime Minister Tran Hong Ha echoed optimism about the industry’s rapid evolution, envisioning that the proliferation of entrepreneurs and firms equipped with digital solutions, technologies, and applications will continuously catalyse reforms across all socio-economic facets. This, in turn, is anticipated to affirm Vietnam’s global standing.

Throughout the forum’s core session, luminaries shared narratives of success, spotlighting digital products that have catalysed significant change both within Vietnam and on the global stage. Panel discussions dissected the trajectory of emerging technology-based innovations such as the Internet of Things, artificial intelligence, and semiconductors, analysing their commercial viability in both domestic and international markets. Moreover, discussions centred on identifying barriers, challenges, and pivotal solutions to proliferate a broader array of products and services via new digital platforms.

The Ministry of Information and Communications seized the moment to announce and bestow the esteemed “Make in Vietnam” awards, acknowledging outstanding Vietnamese entities that have contributed prominent digital technology products, solutions, and services.

Complementing the discussions and accolades, exhibitions provided a hands-on experience for visitors to acquaint themselves with the array of “Make in Vietnam” digital products. These immersive displays facilitated a direct understanding of the innovation and prowess embedded within the nation’s digital technology landscape.

As Vietnam’s digital technology sector continues its upward trajectory, the forum not only celebrated its successes but also served as a catalyst for envisioning the industry’s potential. The amalgamation of innovation, recognition, and a keen eye on the future promises an exciting evolution for Vietnam’s digital technology landscape on the global stage.

The inauguration of the second edition of the Vietnam International Digital Week 2023 is a significant step in Vietnam’s pursuit of national and international digital ambitions. The event is a transformative series of discussions and engagements poised to redefine ASEAN’s technological trajectory.

Comprising a diverse array of conferences, seminars, and forums, this comprehensive programme serves as a gathering of delegates from ASEAN member nations, their dialogue partners, regulatory bodies, associations, and businesses. The collaborative platform aims to foster dialogue, exchange insights, and chart the course for a collective technological evolution within the ASEAN region.

Vietnam’s digital transformation has been an inspiring journey marked by progress and a commitment to ecological resilience, as highlighted in the recent surge of its digital technology industry. However, within this landscape of growth, challenges loom large, particularly in the burgeoning e-commerce sector, raising concerns about its sustainability.

Director Nguyen Van Thanh, leading the E-Commerce Development Centre under the Vietnam E-commerce and Digital Economy Agency, shed light on pressing issues faced by the industry in an article by OpenGov Asia.


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