31st Sea Games - Vietnam 2021 Covid-19 Pandemic
ICT industry sets 45% of Make in Vietnam products by 2025
Phi Khanh 14:45, 2021/12/28
The industry targets 10 digital businesses, marking revenue of over US$1 billion each by 2025.

Vietnam’s ICT industry will move from outsourcing and assembly to mastering technology and making Make in Vietnam products and services, with the Make in Vietnam portfolio of over 45% by 2025.

A production line of VinSmart factory at Hoa Lac Industrial Park. Photo: Vingroup

The information was recently released by the Ministry of Information and Communications.

By 2025, the number of digital technology enterprises in Vietnam will reach 100,000, with at least 10 earning over $1 billion each.

At least 10 localities would have ICT revenue of over $1 billion. The revenue growth rate of the IT industry is expected to equal two or three times the whole country’s GDP growth rate.

To reach the ambitious target, the ministry said it will this year draft the Law on Digital Technology Industry to institutionalize the Party and State's guidelines on the development of digital technology.

The ministry will support the digital economy development through activities of research, creation, production, supply, and the application of products and services made by Vietnamese digital tech companies.

This year, the ICT industry revenue in 2021 reached $136.1 billion, up from over $124 billion in 2020.

Another 5,600 digital tech companies have been registered this year, totaling 64,000 businesses. The newly-established enterprises generated a revenue of US$18.8 billion, accounting for 13.8% of the total revenue of the information and communications technology industry (ICT). 

The localization ratio of the industry’s revenue reached 24.65%, a significant increase compared to previous years.

TAG: Vietnam ICT Law on the Digital Technology Industry digital businesses
Other news
21:25, 2022/25/27
Vietnamese enterprise receives US exclusive protection for two patents
The US-protected patents would ensure the firm’s success in the international market.
15:09, 2022/09/26
Facebook to charge 5% VAT on ad services in Vietnam
Facebook's parent company assures the Vietnamese Government that it will fulfill its tax obligations.
14:38, 2022/38/18
Global Blockchain Conference to be held in Vietnam
The event will connect businesses and promotes the development of the blockchain in the world.
18:13, 2022/13/13
Vietnam, Qualcomm boost cooperation for 5G development
Qualcomm has developed cooperation with Vietnamese giants such as Viettel, VNPT, MobiFone, BKAV, and VinFast.
16:39, 2022/39/13
VNPT, Casa System Group sign cooperation agreement
Cooperation with Casa Systems is the next step in Vietnam Posts and Telecommunications Group (VNPT)'s digital infrastructure development roadmap.
15:36, 2022/36/10
Google creates trends for SEA Games 31
Google Trends are expected to bring the image of the SEA Games to audiences in Southeast Asia and around the world.