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Top 8 technology companies in Vietnam 2019

Top 8 technology companies in Vietnam 2019

Sunday 06, 09 2020
In general, 2020 is the year following the growth momentum of the information technology industry but it is more complete and "smarter".

A glance at Vietnam’s technology development

In recent years, Vietnam has witnessed the rapid development of science and technology, especially in the fields of information technology, biotechnology, and new materials technology. This plays an important role in improving labor productivity, contributing to increasing productivity.
Vietnam has more than 24,000 PhDs, and more than 1,100 scientific research and development organizations of all economic sectors, including nearly 500 non-state institutions, nearly 200 universities and colleges (including 30 non-public university). Since 2000, the rate of state budget expenditure on science and technology has always accounted for 2% of GDP. In addition, there are also other investment sources for science and technology such as private enterprises, foreign investment and science and technology funds.

Vietnam has made certain achievements in the fields of science - society - humanities, natural sciences, construction, information technology, communication, and medicine. The success in research and application of science and technology have contributed to improving the quality of economic growth.
Technology companies have play a really important role in boosting Vietnam's economy. According to a statistical report on ICT industry by the Ministry of Information and Communications, as of June 2020, the number of information technology (IT), and electronics and telecommunications enterprises (both domestic and FDI) was about 45,500.

Total revenue of IT, electronics and telecommunications industry (both domestic and FDI) in the first 6 months of 2020 was estimated at nearly 50 billion USD, an increase of 2.2% over the same period last year. 

Top 8 technology companies in Vietnam

Compared to the world’s average, Vietnam's technology companies are considered young and “inexperienced”. However, these businesses have grown very fast, gradually asserting their position and role in the development of the economy.
Based on its huge data source, VietnamCredit has analyzed and evaluated to pick out 08 leading technology companies in Vietnam. In addition to the two important factors that are revenue and profitability, this list of the top 8 technology companies in Vietnam is also made based on credit ratings and other non-financial factors (such as popularity, reputation to customers, legal records ...).
Top 10 technology companies in Vietnam
Topping this list is Viettel Group. The company was formerly known as SIGELCO, established on June 1, 1969.
Currently, Viettel is Vietnam's largest Information Technology and Communications Group, and is considered one of the fastest growing telecommunications companies in the world. It is also among top 15 global telecommunications companies in terms of subscriber numbers. Viettel has invested in 7 countries in 3 continents including Asia, America, Africa, with a total population of more than 190 million. 

Viettel is rated “AA”, which means it has very strong capacity to meet its financial commitments. It differs from the highest-rated obligors only to a small degree.
Staying at the second position in the list of leading technology companies in Vietnam is FPT Software, which is a member of FPT Group, and was established in 1999.
Top 8 technology companies in Vietnam
FPT Sofware's core business activity is Information Technology and Telecommunication. Since its establishment, FPT Software has been the number one software company in Vietnam in the field of system integration, Information Technology services, software outsourcing, retail of IT products.
FPT is rated “BB” by VietnamCredit. This company is less vulnerable in the near term than other lower-rated companies. However, it faces major ongoing uncertainties and exposure to adverse business, financial, or economic conditions which could lead to its inadequate capacity to meet its financial commitments.

CMC Corporation is the 3rd largest technology enterprise in Vietnam, according to VietnamCredit. The company was formerly known as Network Computer Company Limited (HT&NT Company Limited), which was established on May 26, 1993.
Over 27 years of development, the company now has 8 member companies, joint ventures, and research institutes. Its key business activities are Technology & Solution, Global Business, and Telecommunications. CMC has always shown its desire to make Vietnam the "Digital Hub" of Asia Pacific.
This company is also rated “BB” by VietnamCredit.
Source: VietnamCredit

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