February 23, 2024

We are creating some awesome events for you. Kindly bear with us.

Vietnam To Develop ICT Program Focusing on Domestic Firms

Vietnam ICT Program Development
Image credit: Ministry of Information and Communications

The Ministry of Information and Communications (MIC) is developing an ICT industry development program , which is expected to be submitted to the government for issuance within the first quarter of 2020.

The program will focus on measures to encourage Vietnamese firms to engage further in the global ICT industry’s value chain and increase added value.

Speaking at a conference to discuss the ICT development program, the Deputy Minister of MIC said that the ICT industry was seeing a slowdown in revenue.

The industry’s revenue increased by 9.8% in 2019 over the previous year. This was low compared to the average annual growth rate of 31.1% in 2014-2019.

Additionally, the Vietnam ICT industry is still largely dependent on foreign-invested companies. The Minister cited the fact that foreign-invested companies account for more than 90% of the industry’s export revenue.

Domestic ICT firms are mainly involved in only low-value stages of production, such as hardware assembly and software outsourcing. There haven’t been many unique Make-in-Vietnam products, the Minister stated.

It would be important to leverage the development of domestic ICT companies and simultaneously attract foreign direct investment (FDI) into the sector.

The program also aims to build links between domestic and FDI companies as well as with the global market.

According to the Deputy Director of MIC’s IT Department, the program targets improving the value, quality, competitiveness, and creativity of the ICT industry.

The program will prioritise the development of products and services based on technologies such as artificial intelligence, internet-of-things, automation, data analysis, and 5G.

Domestic firms would be the focus. The program intends for domestic ICT firms to grow at a rate two times higher than the country’s gross domestic product growth rate.

By 2025, Vietnam aims to have mastered technologies in producing major ICT products to serve socio-economic development and national security.

The ICT industry is expected to become a key economic sector in the next five years.

Vietnam’s ICT industry has seen significant development in the past five years and grew to reach revenue of US $110 billion this year.

The industry provided jobs for more than one million people and ICT firms contributed VN 53 trillion (US$2.28 billion) to the state budget in 2019.

Information security is an indispensable part of ICT development. The Deputy Minister recently noted that the investment rate for information security only accounts for less than 5% of total investment capital for an ICT project in Vietnam, compared to the global average rate of 15%-20%.

Like many other countries, Vietnam has no choice but to accelerate ICT development and ICT-based sectors, he added.

In spite of its investment capital, the country ranked 50th on the Global Cybersecurity Index (CGI) rankings in 2018, up 50 places from a year earlier, according to a report by the International Telecommunications Union (ITU).

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend