Vietnam needs suitable legal policies to bring IT brands to the world: Insiders
In the span of two decades, Vietnam has emerged as a formidable player in the global software and IT service industry, boasting giants such as Viettel, FPT, CMC, and VMO since the launch of the "Go-global" movement. But what does it take for these businesses, both large and small, to break into international markets?
Viette's Lumitel e-wallet runs effectively in Burundi (Photo: VNA)
Hanoi (VNA)ꩲ – In the span of two decades, Vietnam has emerged as a formidable player in the global software and IT service industry, boasting giants such as Viettel, FPT, CMC, and VMO since the launch of the "Go-global" movement. But what does it take for these businesses, both large and small, to break into international markets?
Vu Van Trung, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), underlined a crucial element for success: a deep understanding of the legal landscapes in both Vietnam and host countries. "Businesses must pay due attention to legal frameworks, and bilateral and multilateral agreements to which Vietnam is a signatory", he advised.
This insight is particularly vital in the IT sector, which remains in its relative infancy in many countries, including Vietnam, where the absence of clear and comprehensive laws can pose significant challenges.
Despite these hurdles, the MPI remains committed to advocating for policies that support businesses in their overseas ventures, he said.
As of October, the country boasts over 51,000 digital technology enterprises employing about 1.54 million workers, including more than half a million engineers, according to the Ministry of Information and Communications (MIC).
Major corporations are fostering 'Make in Vietnam' digital product ecosystems and partnering with local firms to expand globally.
Nguyen Thanh Tuyen, Deputy Director of the MIC's Department of Information and Communications Technology Industry, said the ministry already established an advisory team to accompany and help firms attend international exhibitions and promote outstanding products.
Each year, the MIC honours exceptional 'Made in Vietnam' products through prestigious technology awards, fostering a culture of innovation and excellence that inspires the next generation of tech entrepreneurs.
These successful 'Go-global' Vietnamese enterprises are not just establishing a Vietnamese IT brand, they are bridging gaps and collaborating with the international business community to shape a more interconnected digital world.
The MIC has also acted as a liaison, working alongside Vietnamese IT enterprises to navigate challenges and triumph in foreign markets. With a supportive government and a thriving tech ecosystem, Vietnam's digital future looks promising./.
Vietnam will provide free anti-phishing software for its people from July, heard a workshop on preventing cyber fraud held by the National Cybersecurity Association on May 13.
The People's Council of Da Nang city has approved the adjusted pre-feasibility study report for the development of Software Park No 2, proposed by the municipal People's Committee.
Leading IT services provider FPT Software and automotive manufacturer VinFast of Vietnam were honoured at the 14th Annual “Jewels of Asia” Awards Gala hosted by the Asian American Chamber of Commerce (AACC) in Virginia state of the US on May 2.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
Ambassador Nguyen Minh Vu laid stress on the significance of the Hanoi Convention, particularly to the Asia – Pacific, to handling legal gaps in international cooperation against rapidly increasing global cybercrime.
The week features a rich lineup of activities, including a plenary conference on blockchain and AI development, thematic seminars on future technology trends and investment visions, applications of blockchain and AI in business, the Super Vietnam PitchFest, as well as forums for blockchain and AI.
According to the Politburo’s Resolution No. 57-NQ/TW, dated December 22, 2024, on making breakthroughs in the development of science, technology, innovation, and national digital transformation, this is considered a decisive factor in the development of nations. It is seen as a prerequisite and the best opportunity for Vietnam to become prosperous and powerful in the new era of the nation’s rise.
Vietnam’s demographic advantage, including a youthful population of 100 million in a “golden age”, further bolsters its ambitions. Its dynamic workforce, with a natural inclination toward science, technology, engineering, and math (STEM), is a key asset in attracting private investment to innovation-driven sectors.
Vietnam views sci-tech as a decisive factor in national development and a key tool for achieving sustainable development goals, and is ready to boost sci-tech cooperation with Venezuela for mutual prosperity.
The Government will always accompany companies, including CMC, and request ministries, agencies, and Hanoi authorities to further support them by promptly removing any obstacles to their growth, said Prime Minister Pham Minh Chinh.
