 “Make in Vietnam’ is an action program and slogan initiated by the Ministry of Information and Communications in 2019. (photo: VOV) |
The first National Forum on the development of digital technology businesses was held in 2019 with the theme “Aspiration, Vision, and Development Orientation for a Stronger Vietnam.” At that time the government and the Ministry of Information and Communication identified that ICT businesses must play a role in promoting the digital technology industry into a spearhead of the economic sector. The action program and slogan ‘Make in Vietnam’ has inspired the digital technology business community to be confident to reach out to the world. It has motivated faster digital transformation and enhanced Vietnam’s value in the global value chain.
Minister of Information and Communications, Nguyen Manh Hung told the Forum: “Make in Vietnam’ aims to resolve Vietnamese issues and help Vietnam develop. ‘Make in Vietnam’ products will go out to the world and contribute to the development of all human beings. ‘Make in Vietnam’ will help Vietnam master technology and become strong and prosperous. ‘Make in Vietnam’ promotes designs made in Vietnam, created in Vietnam, and produced in Vietnam.”
In 2019 the total revenue of the digital technology industry reached just over 112 billion USD, with more than 45,000 digital businesses. In 2022, despite difficulties caused by the COVID-19 pandemic, the revenue of the digital technology industry increased to 148 billion USD with more than 70,000 businesses.
2022 also recorded strong growth in the ratio of ‘Make in Vietnam’ value to revenue of the digital industry. About 60% of businesses have shifted their production from processing simple details to developing entire solutions and products of higher value.
Continuing last year’s momentum in growth, revenue of the digital technology industry has increased since the beginning of this year. ‘Make in Vietnam’ has resolved many of Vietnam’s problems with digital technology created by Vietnamese people, and now has a greater mission of conquering the international market.
Digital businesses have been heavily supported by the Government and ministries, especially the Ministry of Information and Communications, which has enacted policies of communications, tax incentives, training support, human resources, and development orientations.
Associate Professor Dr. Huynh Quyet Thang, Rector of Hanoi University of Technology, said: “The government’s resolute orientations have created momentum for businesses. Increasing investment in research has created true technology businesses, who no longer outsource but master their own technology and produce products that stand firm in the domestic market and can reach out to the world.”
Penetrating foreign markets has been a trend of Vietnamese businesses developing digital technology over the last 4 years. It is estimated that about one third of the more than 70,000 digital technology businesses have marketed their products abroad.
A typical example is FPT Technology Group. After 23 years of development in the overseas markets, FPT, last year, made its mark on the international technology map by being the first Vietnamese enterprise to launch a microchip for medical devices linked to the Internet of Things (IoT). This year FPT’s microchip products have been available in the US and Japan. FPT has also expanded into other fields such as lighting, smart devices, automotive technology, and energy.
Last year for the first time FPT earned 1 billion USD from digital products sold in the international market, putting Vietnam in 2nd place on the digital map, behind the much larger software powerhouse India.
FPT’s digital transformation revenue from foreign markets in the first half of this year grew 40% over the same period last year, by focusing on new technologies such as Cloud and AI/Data Analytics.
Viettel Military Telecommunications Group also had a successful 2022 in the international market with a revenue of 3 billion USD. Viettel is the No.1 5G network provider in Laos, Cambodia, Myanmar, East Timor, and Burundi. Viettel has established itself as a prominent Vietnamese enterprise implementing digital transformation in Haiti and Laos.
CMC Global Company has been at work in big markets providing hospital applications throughout South Korea, eKYC (Electronic Know Your Customer) solutions for banks in China, and Embedded Testing solutions for in-vehicle driver applications for leading automotive brands. CMC Global has partnered with customers in many countries to develop Fintech systems of the future.
Nguyen Cao Cuong, Director of CMC Global Business Division, said: “After 5 years investing overseas, CMC Global is confident in its service quality. We always meet our customers’ requirements. We have entered English-speaking markets and demanding markets such as Australia, America, and Europe. Our goal is to have at least 10 overseas offices by 2025.”
The digital transformation with ‘Make in Vietnam’ digital platforms has created breakthroughs. Digital businesses have gradually shifted from outsourcing to mastering technology, which helps solve major national problems. The digital transformation process is strongly taking place across all fields in Vietnam. Digital businesses with ‘Make in Vietnam’ digital products are centrally positioned and assigned the mission of creating breakthroughs to turn Vietnam into a digital powerhouse in the near future.