Business

Software exports play key role in digital economy

Software exporters took the spotlight in the Vietnamese digital economic picture in the first six months of this year, posting high export revenue.
Software exports play key role in digital economy ảnh 1Illustrative image (Source: ictvietnam.vn)
Hanoi (VNA) – Software exporters took the spotlightin the Vietnamese digital economic picture in the first six months of this year, posting high export revenue.

In the first quarter of this year, FPT reported 32% rise inrevenue from IT services abroad, with a 44.1% increase in the number of newcontracts.

Thanks to its strong digital transformation trend, Japan became the largest market of the firm in the period, with an increase of 31.2% inrevenue and 65.7% in contract number. This year, FPT aims for 1 billion USD in softwareexports.

Meanwhile, CMC Global said that in the first six months ofthis fiscal year, it enjoyed a year-on-year rise of 85% in revenue to 641billion VND (27.11 million USD). The firm’s major markets include the Republicof Korea and countries in Asia-Pacific region.

Japan and Asia-Pacific countries remain promising marketsfor Vietnamese IT businesses. Currently, more than 500 Vietnamese firms are providing IT services to their Japanese partners, including large-scale onessuch as Rkikeisoft, Luvina, Jujinet, VMO, and VTI.

Japan’s demand in IT outsourcing is estimated at more than30 billion USD per year, of which Vietnam is supplying 6-7%. The market madegreat contributions to Vietnam’s 14 billion USD in total software and ITservice revenue in 2022, with growth of 20-40%.

Nguyen Thi Thu Giang, Vice President and General Secretaryof the Vietnam Software Association (VINASA), said that the market’s potentialis great due to its human resources shortage and high demand in system repairand maintenance.

Currently, the global software and IT market has a value ofover 1.8 trillion USD.

Nguyen Thien Nghia, Vice Director of the ICT IndustryDepartment under the Ministry of Information and Communications, said Vietnamaims for at least 2 billion USD in revenue from software and IT servicesabroad this year.

Vietnam is providing attractive incentives to IT firms, includingcorporate income tax exemption and reduction. In its 2021 report, AT Kearney said thatVietnam was the sixth most attractive IT outsourcing market in the world aftertraditional ones of India, China, Malaysia, Indonesia, and Brazil./.
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