Business

ICT industry sees strong growth in 2024

The information and communications technology (ICT) industry’s total revenue is estimated at 4.24 quadrillion VND (166.7 billion USD) in 2024, marking a 13.2% increase from 2023.

Illustrative photo (Photo: aptechvietnam.com.vn)
Illustrative photo (Photo: aptechvietnam.com.vn)

Hanoi (VNA) - The information and communications technology (ICT) industry’s total revenue is estimated at 4.24 quadrillion VND (166.7 billion USD) in 2024, marking a 13.2% increase from 2023.

Its contributions to the State budget reached about 109.47 trillion VND, up 15.1% year-on-year, according to the Ministry of Information and Communications.

The sector's GDP contribution is estimated at 989.02 trillion VND, a rise of 11.2% compared to the previous year.

Meanwhile, the workforce in the industry totaled about 1.54 million employees, up 2%. The digital technology industry (ICT) alone accounted for 3.88 quadrillion VND in revenue, reflecting a 14.1% growth.

By 2025, the ICT sector aims to achieve 4.32 quadrillion VND in revenue, representing an 11% increase from 2024. Despite high revenue growth, the ICT industry's post-tax profit for 2024 remained flat at 278.07 trillion VND, the same as in 2023.

However, in the ICT industry picture, the bright spot is the recovery of hardware and electronics exports. After a 15.1% decline in 2023, exports rebounded to 132.34 billion USD, a 16.78% increase from 113.3 billion USD in 2023.

For 2025, Vietnam has set a target of 160 billion USD in hardware and electronics exports, representing a 20.8% growth from 2024.

As of November 30, the number of operational digital technology enterprises reached 54,500, up 16% from the same period in 2023. The goal for 2025 is to have 60,000 digital technology enterprises contributing to the sector’s growth./.

VNA
#ICT #Ministry of Information and Communications #digital technology industry #Vietnam
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