What Achievements Has Vietnam Made to Impress the Big Tech?
At the Asian Technology Exhibitions in Singapore in June 2023 and May 2024, Vietnamese enterprises showcased over eighty products, including VinBrain's AI cancer diagnosis, VNPT's IoT security, Rạng Đông's smart lighting, HANET's cameras, EVN's electric meters, VTI's Flyer AI, NTQ's AI tech, Smartlog's supply chain solutions, and Sconnect's animation technology.
In 2023 and early 2024, the ministry organized seven delegations to markets like the US, Japan, Singapore, Australia, New Zealand, and Spain, connecting sixty Vietnamese businesses with over three thousand international enterprises. They arranged over 100 business meetings across sectors like BPO, ITO, semiconductors, autonomous vehicles, and Fintech.
The ministry supported Vietnamese participation in awards like the ASEAN Digital Technology Awards (ADA) and the Asia-Pacific ICT Alliance Awards (APICTA). In 2024, Vietnamese enterprises led ASEAN in winning gold and silver medals at ADA.
The ministry also hosted trade and investment activities, creating global opportunities for Vietnamese businesses. They facilitated meetings between Vietnamese software companies and trade counselors in ten countries, including the US, Germany, France, Japan, South Korea, Singapore, Laos, Cambodia, and Taiwan, boosting exports and growth.
"The Raw Gems" Being Polished by Tech Giants.
Vietnam's digital technology sector lacks awareness and state support, despite its significant revenue and export volumes surpassing traditional sectors like rice.
Annual state funding for enterprise commercial promotion is minimal, around VNĐ2.5 billion, limiting initiatives like the Trade Promotion Programme.
While software and IT services thrive, hardware products struggle internationally except for those from foreign-invested enterprises.
Japan's IT market, valued at US$455 billion in 2023, is projected to reach $480 billion by 2028 and faces a significant shortage of IT professionals. On June 5, the Fukuoka prefectural government hosted a seminar to attract investment from Vietnamese tech enterprises, reflecting Japan's efforts to welcome more foreign tech firms. Similarly, Kanagawa prefecture aims to leverage Vietnamese enterprise presence to aid Yokohama's digital transformation.
Beyond Japan, there's a high demand for Vietnamese digital technology expertise in the US, Singapore, Europe, and the UK, especially in advanced sectors like semiconductors and AI.
In 2024, government and business delegations from these nations visited Hà Nội and MoIC to explore collaborations. During a visit to MoIC on June 18, Jason Oxman, President of the Information Technology Industry Council (ITI), expressed the US's desire for Vietnam to play a crucial role in the global IT supply chain.
How Can “Made in Vietnam” Penetrate Deeper into the Global Technology Field?
MoIC plans to support Vietnamese digital technology firms entering foreign markets. They'll collaborate with the Ministries of Foreign Affairs and Industry and Trade to create channels and aid for firms in key markets like the US, Europe, Japan, and South Korea.
It's crucial to build a strong Vietnamese business ecosystem capable of handling major international IT projects. Vietnamese IT firms should collaborate locally and globally to strengthen their sales capabilities and innovate in new products, essential for competing on the global stage. Enhancing media support is also vital to inform Vietnamese enterprises about promising foreign markets, encouraging them to expand abroad.
Recently, Vietnamese tech firms have expanded into new sectors such as logistics, healthcare, telecommunications, energy, digital transformation, hospitality, entertainment, and e-commerce. They are adopting key digital technologies including 5G, IoT, AI, robotics, virtual reality, big data, and cloud computing.
Supporting Vietnamese IT enterprises in organizing trade promotions, business matching, and international exhibitions will boost their visibility and global reach. Additionally, improving IT education at universities and vocational schools to meet international standards in technology and language skills is crucial.
Conclusion
Alongside promoting 'Made in Vietnam' focusing on products and services made here for the global market, Vietnam needs a comprehensive global marketing strategy, branded 'Made in Vietnam' to effectively promote and support its IT enterprises worldwide. This strategy should embrace products, solutions, and services from Vietnamese enterprises operating globally, not just in Vietnam.
With support from foreign investments in Vietnam, not only has IT education been upgraded, but Vietnamese engineers and programmers are also gaining exposure to international environments. They can understand and learn both hard and soft skills. Among them, Burning Bros is an IT service provider that demonstrates the development potential of Vietnamese talents. Contact us to address your needs!
