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Vietnam Aims for $10 Billion in Global Tech Revenue by 2024

Vietnam’s tech industry targets $10 billion in global revenue for 2024

The Ministry of Information and Communications in Vietnam recently unveiled two new technological advancements, a virtual assistant to support civil servants and locally made 5G base station equipment.

These innovations were showcased to retired ministry officials in the northern region, highlighting the sector’s focus on innovation.

Under Minister Nguyen Manh Hung’s leadership, the ministry is testing a virtual assistant in 34 agencies and departments. This assistant utilizes AI models to streamline tasks for civil servants, with the aim to create personalized versions in the future.

Viettel’s development of 5G base stations using open standard Open Ran showcases Vietnam’s tech independence. These stations are already operational in multiple locations with plans for further expansion.

Viettel has also secured contracts to export this technology to India, positioning Vietnam as the fifth country globally to produce 5G equipment.

These milestones, coupled with Vietnam’s digital transformation efforts, reflect the industry’s core values of “Loyalty – Courage – Dedication – Creativity – Compassion.”

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Nearly four decades ago, former General Director Dang Van Than and his team at the General Department of Post and Telecommunications spearheaded the adoption of digital technology, propelling the sector to a leadership position in Vietnam’s economic development.

The sector’s self-sufficiency and contributions to socio-economic progress demonstrate the enduring impact of past decisions.

Former Minister of Posts and Telecommunications, Do Trung Ta, commended the current generation for advancing the industry and ensuring its sustainability.

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The focus on technological self-sufficiency is evident in the national digital transformation program, emphasizing the role of Vietnamese tech enterprises in global competitiveness.

The annual “Make in Vietnam” forum encourages local tech innovation to address challenges and reach international markets.

The Ministry of Information and Communications has introduced strategies to support Vietnamese tech firms in international expansion, fostering global expertise exchange.

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Vietnamese digital products are not only pivotal in the country’s digital transformation but also gaining traction in international markets. By 2024, over 51,000 tech companies in Vietnam are projected to reach $10 billion in global revenue.

Minister Nguyen Manh Hung highlighted the significance of this revenue in boosting the country’s industrial growth.

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The vision of a self-sufficient tech industry in Vietnam is coming to fruition through strategic initiatives by the Ministry of Information and Communications.

Policies and regulations are being refined to support tech industry growth, laying the foundation for Vietnam’s path to becoming a developed nation.

Van Anh


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