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)
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./.
Establishing a transparent legal framework for digital assets is an urgent requirement, offering a "golden opportunity" for Vietnam to leap forward in the digital era and solidify its position on the global technology map.
Digital transformation, now a global trend, faces significant hurdles in Vietnam's agriculture sector, according to Dang Duy Hien, Deputy Director of the Centre for Digital Transformation and Agricultural Statistics under the Ministry of Agriculture and Rural Development.
The Ministry of Industry and Trade has issued a digital transformation plan for the energy sector, aiming for 90% of administrative procedures to be handled online via the public services portal.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
