The flourish of IT industry in Vietnam

Information and communication technology (ICT) is a booming sector in Viet Nam, supported by world-class telecommunication infrastructure.

ICT revenue in 2018 reached almost US$100 billion, posting an 8% increase compared to 2017. Software export revenue is estimated to reach US$3.5 billion, an increase of 11.6% over the previous year.

Vietnam’s plans for a digital economy, smart cities, and start-ups have helped the country’s IT industry record vigorous revenue growth.

Foreign Investment

An official press release has noted that the growing capital inflow in Vietnam’s IT industry from private investors, especially foreign ones, has been considered a “golden opportunity” for the industry to expand.

IT industry in Vietnam

The Director of the Ho Chi Minh City Investment and Trade Promotion Centre said that the IT industry is attractive to investors because the country leads Southeast Asia in internet economy growth with a rate of 40%, according to the e-Economy Southeast Asia report for 2019.

The country is growing from investments in leading global technology companies focused on manufacturing hardware to developing software and more application-based services.

These foreign funds are critical to Vietnam, especially for transferring knowledge and bringing in global best practices that are crucial for developing a local yet world-class ICT industry.

Under the strongly growing digital economy, major opportunities are opening for investors, especially those who want to provide products and services based on new technologies.

The government from Hanoi and the Ho Chi Minh City administration are deploying projects to build smart cities around the country, promoting innovative start-up programs, and implementing projects to transform Ho Chi Minh City into a regional and international financial hub.

Economic Growth

As Vietnam’s digital economy continues to thrive, its gross merchandise value is 4% of the country’s GDP, higher than any other country in Southeast Asia.

It is predicted that the IT sector will continue to be a driving force for growth and transformation in the Vietnamese economy, especially in delivering Industry 4.0 evolution, as this will secure the country’s strong competitive regional position in the coming decades.

Post IT 2

Furthermore, Vietnam had 3,000 start-ups in 2019, ranking third place among Southeast Asian countries. Last year, a Vietnam Report survey on the 500 most profitable companies in the country showed that most business insiders expect technology to remain the leader in attracting investment.

According to the City Momentum Index, Hanoi and Ho Chi Minh City are among the ten most dynamic cities in the world this year.


Innovation in Vietnam is also constantly increasing and is projected to continue in this manner for the next five to ten years. The Managing Director at the Asia Internet Coalition said that Vietnam has grown to become one of the most attractive investment markets in the region across several sectors, but the IT industry and its digital economy stand as the most promising.

At the capital of this country, a dedicated team of Young and Creative from Techvify constantly strive to attain knowledge and increase their competence to provide the trusted and best-qualified solutions to our valued customers.

Post IT 3

We hold an array of multidisciplinary skilled employees forming the core of our capability in various fields of software development such as Finance, Insurance, E-commerce, Manufacturing, Hospitality and Internet Services.

Our key motto does not stop at bringing success to our clients but gaining customer satisfaction after each project.

Get in touch with us to receive the top-notch services leading to your success.


5/5 - (1 vote)

Related Topics

Related Topics

software development industry trends

9 Software Development Trends in 2024 You Need to Know  

Entering 2024, the software development industry trends are rapidly evolving, influenced by technological advancements and shifts in market demands. For both companies and developers, keeping up with the latest trends in software development is crucial for maintaining competitiveness and achieving success. This article delves into the primary software development trends anticipated to have a major influence in 2024. 1. Artificial Intelligence and Machine Learning Is Thriving The fusion of artificial intelligence and machine learning has become a cornerstone in the software development latest trends, transforming functionality and performance. These technologies improve efficiency and expand capabilities in numerous sectors through predictive…

01 March, 2024

golang vs node js performance benchmark

Go vs. Node.js : Choose The Right Language

Picking the right technology stack for a new project is a tough decision for businesses and developers, especially regarding backend development. This involves a lot of work on APIs, libraries, managing data, and code that users need help seeing. Two main programming languages are running for the lead role in backend development. You may know of Node.js, which brings JavaScript to the server side. Meanwhile, Google Go, or Golang, has been making waves in backend development, especially after big names like Uber started using it. This article will dive into Go vs. Node.js, aiming to give you a clearer picture…

29 February, 2024

large language model

The Next Generation of Large Language Models 

Large Language Models (LLMs) are computer programs that can understand and generate natural language, like words and sentences. They can do many things, like chat with people, write stories, or answer questions. The next generation of Large Language Models (LLMs) is emerging in the constantly changing field of generative AI. They are revolutionizing how we interact with and leverage artificial intelligence. In this article, let’s explore three exciting areas that could shape the future of LLMs: 1. Models that Generate Their Own Training Data One of the most pressing challenges in AI development is the need for high-quality training data….

28 February, 2024