ICT revenues up 5% in two months

Thuy Dung Thursday | 03/09/2023 09:20

Digital technology companies would contribute from 6-6.5 percent to the national GDP growth over the next three years. Photo by Government News.

Total revenues of Viet Nam's Information and Communications Technology industry reached $20.6 billion in January-February period, up 5 percent against the same period last year, reported the Ministry of Information and Communications.

The above figure includes $8.2 billion from exporting hardware and electronics products, a year-on-year increase of 4 percent. 

The industry targets to raise revenues to $165 billion in 2023, $175 billion in 2024 and $185 billion in 2025, according to the ministry. 

The ministry also estimated that digital technology companies would contribute from 6-6.5 percent to the national GDP growth over the next three years.

In 2022, revenues from Viet Nam's ICT sector hit $148 billion, representing an increase of 8.7 percent on year.  Exports of hardware and electronic products rose by 11.6 percent to $136 billion, resulting in a trade surplus of $26 billion in the sector, a significant improvement from a modest $4 billion in 2021.

According to the MIC, the total number of digital tech firms in 2022 was 70,000, up 9.6 percent against the previous year.

Local firms gained a revenue of over US$2.2 billion from exporting software and IT services.

Particularly, there is an increasing number of R&D projects invested by foreign tech giants in Viet Nam such as Samsung, Qualcomm, Panasonic, and Intel.

The number of digital tech firms is expected to reach 80,000 by 2050, said the ministry.

Source: VGP

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