Statista, a German company specialising in market and consumer data, said IT services spending is expected to amount to 1.28 trillion USD and 1.39 trillion VND in 2022 and 2023, up 7.9% and 8.8%, respectively.

Vietnam targets100,000 digital firms in Vietnam by 2025, a rise of 56.25% from 2021.

The Vietnamese Ministry of Information and Communications targeted 100,000 digital firms in Vietnam by 2025, a rise of 56.25% from 2021.

Software exports by domestic enterprises has increased with new contracts. Tech conglomerate FPT, for example, earned 11.73 trillion VND (478.83 million USD) from exports as of August, up 28.7% year-on-year.

Meanwhile, digital transformation has been accelerated by both businesses and the public sector.

The Bank for Investment and Development of Vietnam (BIDV) and Vietnam Public Joint Stock Commercial Bank (PVcomBank) have rolled out projects on digital transformation with services offered by tech group CMC.

Provinces including Nam Dinh, Thua Thien-Hue, Dak Nong and Hau Giang have also engaged in strategic cooperation in digital transformation with FPT and CMC.

The telecom segment is expected to grow stably thanks to a rise in the number of broadband subscribers (8-10%), and a boom of 4G and 5G services.

Stock companies said that IT firms will continue double-digit growth, and major groups like the military-run Industry and Telecommunication Group (Viettel), the Vietnam Posts and Telecommunications Group (VNPT), FPT and CMC still have ample room to grow.

Notably, Vietnam has advantages in its IT workforce market.

According to HSBC, 51 percent of programmers in Vietnam are 29-30 years old. The hourly wage for IT outsourcing software development in Vietnam is about 18 USD, equivalent to 64% in other Asian nations and 10% in the US.

Therefore, customers from big markets like the US, Japan, the EU and Asia-Pacific have selected Vietnam as an ideal destination for cooperation in IT development.

ForeScout Technologies of the US, which delivers automated cybersecurity across the digital terrain, has recognised CMC Saigon Technology & Solution (CMC TSSG) as its Gold Partner and the only Service Delivery Partner in Vietnam.

Meanwhile, FPT and CMC also offer services in Japan, the US, the EU and Asia-Pacific.

Fitch Solutions forecast that Vietnam’s IT market will reach 208 trillion VND this year, and 370 trillion VND by 2026.

1,279 new businesses established in Bac Giang

(BGO) – Since early this year, 1,279 new businesses have been established in Bac Giang province, up 25 percent year on year, reported the provincial Department of Planning and Investment.

Businesses take effort to overcome and affirm trademark

(BGO) – In spite of encountering many difficulties in production and business, the enterprises have exerted every effort to overcome and affirm the trademark. Recently, many have been honored as “Outstanding enterprises” in Bac Giang province at the six event of its kind in 2019 – 2022 period.

Head of Bac Giang IP Management Board exchanges with business

(BGO) – On October 11, the Industrial Park Management Board (IPMB) in Bac Giang province held a talkshow with nearly 200 businesses under the chairman of IPMB Head Dao Xuan Cuong and leaders of relevant departments and sectors.

Finance Ministry provides favourable conditions for businesses to ensure petrol supplies

The Finance Ministry always offers all possible support to firms, especially distributors and retailers, to ensure stable petrol supplies, thus stimulating production-business and daily activities, said Minister Ho Duc Phoc.

Bac Giang Business Association helps businesses develop

(BGO) - In recent years, the Business Association of Bac Giang province has overcome difficulties to continue affirming its position and role as a "bridge" between the local business community and all-level authorities as well as to protect the legitimate interests of its members.

Source: VNA