Vietnamese digital technology businesses encouraged to penetrate foreign markets

At the press conference organised by the Ministry of Information and Communications (MIC) on Monday. — Photo

HÀ NỘI — There are currently over 1,500 Vietnamese digital technology enterprises which are providing services and products to foreign markets, bringing in a revenue of US$7.5 billion.

The details were given at the regular press conference organised by the Ministry of Information and Communications (MIC) on Monday.

Amidst difficulties faced by the local information technology market, businesses have sought to operate in foreign markets, which helps increasing revenues and affirming the reputation of the Make-in-Việt Nam digital product brands, said Lê Nam Trung, deputy director of the MIC’s Authority of ICT Industry and Communications.

"It is estimated that revenue from foreign markets contributes about 80 per cent of the total revenue of Vietnamese digital technology enterprises," said Trung.

The MIC is accelerating the progress of drafting the Law on Digital Technology Industry and policies to encourage domestic digital technology firms to do business abroad is an important part of the law, creating favourable conditions for them, he added.

The department has initiated many measures to support the digital technology businesses, such as establishing a consulting group to support local digital technology businesses penetrating foreign markets, promoting Vietnamese digital technology products abroad in general and promoting software exports in particular.

The ministry has organised six delegations to support businesses overseas and last year went to countries including Singapore, Australia, New Zealand, the UK, the US, Japan and Spain to connect up fifty Vietnamese businesses to more than 3,000 international ones.

The ministry has organised more than a hundred business to business meetings between Vietnamese information technology companies and foreign businesses.

There was good revenue growth in the sector last year. According to one survey, the export market for software and information technology services grew by about 4-8 per cent in 2023, in spite of global uncertainties. Software production revenues are estimated to reach about $4.3 billion in 2023, with export revenues forecast to reach about $4 billion. — VNS 

Comments (0)