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Vietnam’s cloud computing market worth $133 million

Vietnam’s cloud computing market is worth nearly VND3.2 trillion (US $133 million). The country is now home to about 27 cloud computing data centres, invested in by 11 domestic firms with more than 270,000 servers.

According to a press release, however, domestic enterprises only account for about 20% of the market share while foreign partners seize the remainder. Speaking at an event held earlier this week, the Deputy Director of the Ministry of Information and Communications (MIC)’s Authority of Information Security Nguyen Khac Lich said cloud computing is a new-generation telecom platform in the next 5-10 years.

MIC considers cloud computing platform a digital infrastructure for the development of digital government, economy, and society. The market is forecast to be worth US$ 500 million by 2025, he said, adding that this year, the COVID-19 pandemic has pushed its growth by 40%.

Vietnam is of the few countries that issued a set of criteria and technical standards to choose cloud computing platforms in service of digital government and administrations. The Vice Director of Viettel IDC Le Hoai Nam said that the country only provides cloud computing infrastructure services while software services on cloud computing platforms have yet to be tapped though they bring huge revenues.

Participants at the event suggested MIC and leaders of departments assist Vietnamese firms in building policies and mechanisms conducive to information technology enterprises in the field of cloud computing, helping them switch to digital transformation more quickly and conveniently.

Earlier this month, MIC held an event to introduce Base.vn, a corporate management cloud-based platform developed by Vietnamese company Base Enterprise. It was part of a series of events aiming to promote Vietnamese-made products and solutions to help realise Vietnam’s digital transformation programme towards 2025 with a view to 2030.

Base Enterprises Director Pham Kim Hung said the platform can provide executives with an overview of their firm through actual data to make the right decisions, enhance productivity, reduce costs, and increase revenue. For their part, employees can collaborate with their colleagues on the platform to fulfil their tasks more efficiently.

Base.vn is also able to connect with the services of other providers to create a comprehensive set of tools that can support a company’s sustainable growth.

According to its developers, the service can work on a multitude of smart devices and is compatible with both Android and iOS operating systems. The Base.vn platform is currently used by more than 5,000 corporate customers of various sizes and across a wide range of business areas in Vietnam.

According to the report “Southeast Asia’s Digital Economy 2019”, Vietnam’s digital economy was valued at US$12 billion in 2019. Over the past 5 years, Vietnam’s e-commerce market grew by over 25% per year. Vietnam’s digital economy is forecasted to contribute 5% to the country’s GDP and is expected to reach US$43 billion by 2025.

Vietnam has made tremendous strides in its digital economy and tech-related industry and the country has managed to attract many big investors including numerous tech giants. The overall number of ICT firms in Vietnam (both domestic and foreign-invested) is 46,000 units. The Vietnamese ICT industry’s revenue in 2019 was US$ 110 billion, the B2C e-commerce contributed about US$ 10.8 billion, and the digital content industry’s revenue was US$ 850 million.

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