31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / SCIENCE & TECH
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.

RELATED NEWS
TAG: Vietnam ICT Law on the Digital Technology Industry digital businesses
Other news
10:38, 2022/38/13
Vietnam is safest in Southeast Asia for virtual finances: Kaspersky
The rate of fraud related to banks, payment systems, and online stores in Vietnam is lower than other countries in the region.
07:45, 2022/45/09
First Vietnamese wins European Young Scientist Award
The awarded work is expected to have a lasting impact on the future knowledge of genome stability.
15:36, 2022/36/06
Ten prestigious Vietnam tech firms 2022 announced
The ranking was conducted objectively and independently.
16:31, 2022/31/01
Vietnam issues new template passports for citizens from July 1
The new template passports aim to prevent the creation of fake passports.
20:31, 2022/31/30
Vietnam’s African swine fever vaccine to be widely used by late 2022
The vaccination is expected to be carried out in Vietnam from July to the end of this year.
07:14, 2022/14/24
Vietnam prioritizes cybersecurity for digital platforms
Ensuring cybersecurity for digital platforms must be considered a top priority associated with the development of national digital platforms in Vietnam.