A delegation of 12 Vietnamese enterprises is taking part in the world's leading industrial and IT fair Hannover Messe in Germany, taking place from April 17-21, in a bid to showcase products, study the market, and form partnerships.

Highlighting environmentally friendly production, this year’s expo attracts some 4,000 exhibitors from 100 countries worldwide. The Vietnamese delegation is sent to the event by the Viet Nam Software and IT Services Association (VINASA).

At the Vietnamese space on April 17, VINASA together with the Vietnamese Trade Office in Germany held a networking event themed ‘Industrial digital transformation’.

Vu Phuong Thao, Director of VINASA's business development services department, said this was the third time the association has sent Vietnamese firms to the fair.

According to her, Viet Nam’s ICT industry reeled in about US$148 billion in revenue last year, up 8.7 per cent year-on-year. Turnover of software and IT services contributed more than $1.97 billion to the sum, and is expected to hit $50 billion and $150 billion in the next 10 and 20 years, respectively.

Do Viet Ha from the trade office said digital transformation was among the key cooperation sectors mentioned by the Vietnamese Ministry of Industry and Trade and German Federal Ministry for Economic Affairs and Climate Action in the minutes of the 2nd session of the Viet Nam-Germany joint committee on economic cooperation. This, coupled with the EU-Viet Nam Free Trade Agreement taking effect, would be conducive to the sides’ capitalisation on their collaboration potential in technology, she noted.

Nguyen Manh Hai, the counselor overseeing the Vietnamese Embassy’s investment section, said that Germany was one of the largest ICT markets in the world and the largest software market in Europe with about 100,000 IT companies.

Hai said ample room remained for two-way investment in digital technology and transformation, which needed to be actively tapped by the Vietnamese and German sides in the near future for improved cooperation and investment in related services. — VNS