Vietnam's digital tech sector boasts nearly 74,000 companies

Total revenue of Vietnam's digital tech companies reached nearly 158 billion USD in 2024, a 10.2% year-on-year increase, according to the Ministry of Information and Communications (MIC).

Electronics production at Rhythm Precision Vietnam in the Noi Bai Industrial Zone (Photo: hanoitimes.vn)
Electronics production at Rhythm Precision Vietnam in the Noi Bai Industrial Zone (Photo: hanoitimes.vn)

Hanoi (VNS/VNA) - As of late 2024, Vietnam had 73,788 digital technology enterprises, marking a 10.1% increase from the same period in 2023. Nearly 1.26 million workers are employed in the Information and Communication Technology (ICT) sector.

Total revenue of Vietnam's digital tech companies reached nearly 158 billion USD in 2024, a 10.2% year-on-year increase, according to the Ministry of Information and Communications (MIC).

Significantly, around 1,900 digital tech enterprises reported revenue from international markets. Total overseas revenue surged by 54% compared to 2023, reaching 11.5 billion USD in 2024.

Export revenue from hardware and electronics was estimated at 133.2 billion USD, up 10.4% from 2023. Additionally, the domestic value-added ratio in the ICT sector accounted for an estimated 31.8% of total industry revenue, a 3.1% increase from the previous year.

This highlights the improving capabilities of Vietnam's local tech enterprises, which significantly contribute to the country’s tech value chain.

Globally, Vietnam has maintained prominent rankings across five categories of digital tech products. The country ranked second in smartphone exports, fifth in computer component exports, sixth in computer devices, eighth in electronic devices and components and seventh in software outsourcing services.

To foster the sector's development, Vietnam established a digital tech enterprise community in 2019 under the 'Make in Vietnam' vision, focusing on research, innovation and domestic production.

Looking forward, MIC projects ICT industry revenue to reach 169.3 billion USD this year, an 11.4% increase from 2024. Hardware and electronics exports, the industry’s key segment, are expected to hit 148.5 billion USD, growing 12.3% year-on-year.

To solidify the digital tech industry as a cornerstone of the economy, MIC is finalising the Law on Digital Technology Industry.

This legal framework is set to provide a solid foundation, ensuring businesses and investors have the confidence to grow and innovate in Vietnam./.

VNA

See more

National Highway 61C (Photo; baohaugiang.com.vn)

Hau Giang, JICA to upgrade national highway

National Highway 61C linking Can Tho city with Hau Giang province will feature four lanes for motor vehicles and two for non-motorized traffic, with an estimated cost of over 5.17 trillion VND (206.8 million USD).

At the ceremony (Photo: nhandan.vn)

Ha Nam grants investment certificates for two key projects

Ha Nam province on February 13 licenced the high-precision circuit board manufacturing plant of Red Board Technology (Vietnam) Co., Ltd., and the kitchenware and related metal products manufacturing plant of Casla Kitchenware JSC.

A total of 18,893 cars were sold in Vietnam in January, a drop of 40% compared to the previous month (Photo: VietnamPlus)

Car sales in Vietnam down 40% in January

Experts attributed a sharp decline in car sales to the Lunar New Year (Tet) holidays, impacting consumers' purchasing power. Consumers tend to wait for new models and releases at this time of year, contributing to lower sales during this period.

Illustrative image (Photo: VNA)

Retail fuel prices in latest adjustment

According to the new pricing, E5 RON92 bio-fuel is now priced at 20,598 VND per litre, up 156 VND, while RON95-III costs 21,074 VND per litre, an increase of 146 VND.

NA Chairman Tran Thanh Man speaks at the session on February 13. (Photo: VNA)

NA weighs new policies to boost science, technology, innovation

The resolution, presented at the February 13 session of the NA Standing Committee, seeks to establish a legal framework that would effectively boost national scientific-technological advancement and digital transformation, making them driving forces for socio-economic development to deliver on the dual targets by 2030 and 2045 as outlined at the 13th National Party Congress.

CPI in January 2025 rose by 0.98% compared to December 2024 (Photo: thoibaotaichinhvietnam.com)

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people's livelihoods.

People line up to register for land auctions in Hoai Duc district, Hanoi. (Photo: VNA)

Affordable housing for young buyers a win-win: HoREA

Most young people are ambitious and have a long career path ahead of them to generate income and repay loans. Typically, within 10-15 years, their earnings will double or triple, making such loans low-risk for banks, said HoREA