Doing Business

Business Opportunities in Vietnam for Foreigners : ICT and Digital Technology in Vietnam

Trường Lăng

November 26, 2019

Doing Business

Business Opportunities in Vietnam for Foreigners : ICT and Digital Technology in Vietnam

Trường Lăng

November 26, 2019

The Vietnamese government has identified ICT as a key sector contributing to the country’s development. Vietnam’s ICT market is expected to continue its growth between 2018 and 2020, due to the government’s desire to turn Vietnam into an ICT power.
Companies operating in the Vietnamese ICT market can enjoy support measures from the government such as tax incentives and simplified administrative procedures. New hi-tech parks are set to be constructed between 2015 and 2030 through a combination of central government direction, local government funds, and private capital. Enterprises located in software or hi-tech parks are offered further support and incentives.
The biggest opportunities for foreign companies are software segments in banking and finance, oil and gas, as well as aviation and telecoms, which are the biggest spenders and present the most potential for both customized solutions and off-the-shelf software.
Here we will break down the opportunities in the ICT sector in Vietnam:

Broadband IT, telecommunication, and broadcasting

There are opportunities for foreign investors to provide the equipment and infrastructure and value-added services, such as developing wireless and alternative broadband technologies (including WiMAX4G and fiber optic) and partnering with established network operators to provide 3G services, Pay TV infrastructure and media broadcasting services.

Digital Content

As more people use mobile phones to access the internet, marketing activities tailored to mobile devices become essential for businesses. E-commerce and e-payment, digital content production, applications, e-learning and online training systems, animation, mobile games as well as value-added services for interactive mobile, internet and television are all areas with opportunities.

Cloud computing

Following the global trend for cloud technology, there is growing interest and demand from Vietnamese companies for cloud services.

E-security

Expertise in the IT security area is becoming more essential as local awareness of internet fraud and computer crimes is increasing.

IT services

There are opportunities for IT service providers for fintech, IT technical training and consulting, IT management, software/enterprise applications (ERP and CRM system, finance and accounting software), data center and data storage as well as web services.

Fintech

Vietnam’s financial services industry is underdeveloped but holds immense growth potential in the years to come. Vietnam’s regulatory and legal framework and business environment are still below regional standards, but continuous improvement is expected. Fintech opportunities also lie in Vietnam’s significant potential for adopting digital banking and cash-free payment systems.
Want to discuss more about ICT industry in Vietnam? Contact us!

Related posts

Doing Business

FDI in Binh Duong: A Growth Catalyst

Foreign Direct Investment (FDI) has been the driving force behind the remarkable transformation of Binh Duong, a prominent province in southern Vietnam. Renowned for its ...
Read more
Doing Business

Sustainable Manufacturing in Vietnam: Eco-Friendly Trends

Embarking on a transformative journey, Vietnam is wholeheartedly embracing the principles of sustainable manufacturing. This pivotal shift highlights the nation’s commitment to integrating sustainability into ...
Read more
Doing Business

Technological Innovation in Vietnam’s Manufacturing

Embarking on a journey through Vietnam’s industrial landscape reveals a profound commitment to advancing technological innovation within its diverse manufacturing industries. This exploration delves into ...
Read more
Case Study

Manufacturing Company Mastery: CaMaCo’ Vietnam Venture

CaMaCo (the company name has been changed) as a distinguished manufacturing company in the aviation sector, globally recognized for its expertise in inventory control, surplus ...
Read more

Download our Latest Ebook about Real Estate and Property!

Real estate holds a pivotal position in the development of a country, not only via the spillover impacts on other economic sectors such as construction, manufacturing, tourism, finance and banking etc. but also affecting the social dynamic by mobilizing the residency and infrastructure system. Foreign direct investment in real estate (RFDI) in Vietnam has a long running history and is unique in that it is largely dominated by the private sector compared to other industries which usually still have a rather large Government involvement. International capital has consistently been selecting real estate as the destination of choice, given that RDI has always been in the top 2 and 3 for volume inflow over the last 10 years, even throughout extremely turbulent periods such as COVID-19, per the General Statistics Office of Vietnam’s (GSO) data. Find out more in this ebook edition.

Tải cuốn ebook mới nhất về nền kinh tế số Việt Nam!

The digital economy of Vietnam has been fueled and accelerated by the global digital trends and the pandemic Covid-19. The movement of digital transformation is underway in every corner of Vietnamese life, strongly influencing the way people do things. Digital economy is the future of the Vietnam economy. Realizing the potential of the digital economy, the Vietnam government has issued policies, guidelines and created legal frameworks to support and further enhance this economy. In this ebook edition, the digital economy is looked at from different angles. Perspectives from the key elements comprising Vietnam digital economy are examined and discovered.

Our Happy Clients