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Top 10 technology companies in Vietnam 2019

Monday 13, 01 2020
In general, 2020 is the year following the growth momentum of the information technology industry but it is more complete and "smarter".
Top 10 technology companies in Vietnam 2019

The list of top 10 technology companies in 2019 is made based on scientific and objective principles based on financial performance, business reputation on the media by means of Media coding, and survey of businesses and technology experts.

Top 10 telecommunications technology companies in 2019

Top 10 telecommunications technology companies in 2019

Top 10 software solutions & technology – telecommunication equipment suppliers

Top 10 software solutions & technology – telecommunication equipment suppliers

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Overview of Vietnam information - communications technology (ICT) industry

Products and services of the information technology industry are to create a foundation for developing the knowledge economy, implementing the 4th Industrial Revolution (IR 4.0), contributing to mastering information systems, ensuring information security.

Specifically, according to data of the Ministry of Information and Communications, in 2018, ICT industry contributed the largest proportion of the industry's total revenue, with total revenue estimated at USD 98.9 billion and export at about USD 94 billion. Software production maintained a relatively high growth rate (13.8%) with revenue estimated at USD 4.3 billion and exports estimated at USD 3.5 billion. Regarding hardware, electronics, and telecommunications production, total revenue in 2018 increased to VND 2,000,000 billion (USD 88 billion), of which the telecommunications industry had a total revenue of VND 350,000 billion (USD 15 billion), an annual growth of 6%. Enterprises in the industry have exported to 50 countries in the region and in the world; produced devices such as switchboards, BTS, smartphones, set-top-boxes ... The digital content field, as planned, must have accounted for 20-30% of the revenue but only accounted for less than 10%, which is too low compared to other countries. In 2018, mobile telecommunications businesses successfully implemented the plan to convert network codes and network switching services; concentrated on thoroughly handling the situation of junk SIM, etc.

Industry trends

The development potential of technology applications is enormous. Specifically, artificial intelligence (AI), data analysis, cloud computing, blockchain, enhanced analysis, Edge technology, augmented reality (AR) ... are the first priority options. In particular, in recent years, AI has spread throughout the world, including Vietnam, becoming the focus of the industrial revolution (CMCN) 4.0 as well as the development focus of many businesses. Currently, Vietnam is strongly implementing AI research and its application in business and life. Areas of application include automatic control (self-driving cars, automated robots), health care (collecting, evaluating, giving health indicators and caring for each patient), services and advertising (based on customers' buying habits and behaviors to make recommendations about suitable products), etc.

Starting an IT career is popular despite many challenges. In fact, Vietnamese businesses when starting up often have difficulty in finding qualified and specialized personnel related to IT. However, in return, these businesses are often very interested and spend a lot of financial resources to build and deploy a strong IT platform. In addition, the Government and the Government have always clearly shown the view of encouraging and prioritizing the maximum support for startups, especially in the IT sector (there have been tax exemption and reduction measures to create favorable conditions beneficial for building and developing domestic IT platforms).

>>> VIETNAM TECHNOLOGICAL ADVANCE IN 4.0 INDUSTRY REVOLUTION

Data security and network security continue to be the top concerns of organizations and businesses. In the current context, data is the foundation to apply new technologies such as Big Data, AI, Data Analysis, etc. to maximize revenue. With areas such as e-commerce, online advertising, e-wallets, instant online services (car booking, food ordering), data is vital.

Ethics and privacy issues in the digital age are getting more and more attention. Not only are consumers increasingly aware of the value of their personal information, improving their understanding of the rights and responsibilities for information exchange, but businesses are also paying more attention to business ethics and actively identifying challenges / threats to protect customer information, thereby contributing to preserving corporate reputation. On the government's side, it is easy to see the efforts of the authorities through the planning and enactment of supporting laws, typically the Cyber Security Act that has been adopted and formally effective from January 1, 2019.

In general, 2020 is the year following the growth momentum of the information technology industry but it is more complete and "smarter". The Ministry of Information and Communications has been assigned by the Prime Minister to cooperate with the World Economic Forum to set up Industry and Trade Center 4.0 in Vietnam. The center was expected to start operations at the end of 2019. This is the center for forming policies for Industry 4.0, researching and advising the Government and ministries and industries on IR 4.0 such as Artificial Intelligence (AI), Internet of Things (IoT), Block chain, Automation, Unmanned equipment and futuristic aviation, Digital trade, Industry 4.0 on Earth, Accurate health, Big data, and technologies that can be widely applied across all socio-economic fields. This move demonstrates the determination to "Improve Vietnam's rankings" and bring the ICT industry into all areas of social and economic life.

>>> Related: Top 10 largest companies in Vietnam 2019 

Compiled by VietnamCredit

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