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Vietnamese digital tech firms generate $7.5bn in overseas revenue

Vietnamese digital tech firms generate $7.5bn in overseas revenue

Saturday, February 17, 2024, 09:00 GMT+7
Vietnamese digital tech firms generate $7.5bn in overseas revenue
Minister of Information and Communications Nguyen Manh Hung (R) talks to FPT Corporation chairman Truong Gia Binh in Hanoi, February 15, 2024. Photo: T.Ha / Tuoi Tre

Up to 1,500 Vietnamese digital tech companies have booked US$7.5 billion in revenue from overseas markets, Minister of Information and Communications Nguyen Manh Hung revealed at a meeting with giant Vietnamese tech firm FPT in Hanoi on Thursday.

The visit to FPT Corporation on the first working day of the lunar year 2024 demonstrated the importance the Ministry of Information and Communications attaches to digital tech enterprises in Vietnam, the minister said.

He congratulated FPT on its overseas earnings worth $1 billion, highlighting that this result would elevate the firm’s position on the global stage.

The ministry leader elaborated that conquering overseas markets is a measure of success of a tech company.

The country’s information and communications sector is proud of the fact that as many as 1,500 local digital firms have made outbound sales of $7.5 billion, Minister Hung continued.

With its robust development and possible ability to compete against international tech firms, FPT could be a source of inspiration for local businesses in the industry to achieve stronger growth and go global, he said.

Minister of Information and Communications Nguyen Manh Hung underlined that developing and popularizing AI-powered services for Vietnamese is a mission of local tech firms, including FPT. Photo: T.Ha / Tuoi Tre

Minister of Information and Communications Nguyen Manh Hung underlined that developing and popularizing AI-powered services for Vietnamese is a mission of local tech firms, including FPT. Photo: T.Ha / Tuoi Tre

Speaking at the meeting, FPT chairman Truong Gia Binh revealed that FPT looks to increase its 2024 revenue by 17 percent against last year, with a focus on AI, semiconductors, and automotive services.

By 2030, FPT aims to emerge as the leading chip designer in Southeast Asia and a prominent provider of software products and services for the burgeoning $1-billion automotive industry.

The strategic focus on AI, semiconductors, and automotive services for 2024 aligns perfectly with this vision, the minister said.

Vietnam is poised to initiate its national semiconductor strategy in 2024, coinciding with the potential introduction of AI-powered services.

This strategic alignment underscores FPT's forward-thinking approach in seizing opportunities within these key sectors.

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Hong Ngan - Thanh Ha / Tuoi Tre News

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