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Deputy Editor-in-Chief of SGGP Newspaper Nguyen Khac Van (R) is presenting flowers as a thank-you gift to participants in the discussion. (Photo: SGGP) |
When asked about the secret of success, Director Ngo Minh Tri of Enterprise and Service and Solution Unit (under FPT Software Co. Ltd) shared that the aim of reaching a revenue of US$1 billion in 2023 is the first step in the company’s long-term development strategy in international markets, and that FPT always adopt flexible strategies corresponding to each foreign market to better approach potential clients there.
He then briefed the achievements of his enterprises in focused markets. After more than two years carrying out the globalization process, with an average growth rate of 25-30 percent a year, FPT has significantly contributed to the software export turnover of the Vietnamese IT industry. It highly values the Japanese, American, and Asian-Pacific markets.
With the question about the intention to expand the international markets, Deputy Director Pham Trung Dung of the International Business Solution Center – Viettel Business Solution Corporation informed that Vietnam is aiming at many potential markets like Bangladesh, Egypt, Mongolia to maintain its position in the global ranking list.
The Deputy Director then explained the motto of his company ‘People-oriented Technology Design – Technology with Heart’. This displays the direction of Viettel to develop technologies with care and the desire to bring a better life to human beings. Therefore, Viettel does not merely sell products but are also ready to share its experience, transfer its technologies so that its own values can combine with those of others to establish a digital society.
Answering the question about the potential of IT businesses in HCMC and necessary actions of the municipal authorities to help these enterprises to go abroad, Deputy General Director Tran Phuc Hong of TMA Technology Corp. commented that with current capacity, HCMC can confidently become an R&D and IT – Digital Solution Center of Southeast Asia and even Asia. Hence, the city should launch its own trade promotion programs for the technology and digital solution fields.
“I think in the first stage, HCMC should focus on the ASEAN digital market as its level is similar to Vietnamese one. With a two-digit growth rate, this market is estimated to reach $1 trillion in the next 10 years and is an absolutely suitable market for IT companies of HCMC”, added Mr. Phuc.
When asked about whether previous activities of Vietnam Software & IT Services Association (VINASA) were like ‘festival’ or not, Lam Quang Nam – member of the Executive Board of VINASA explained that any business opportunities need connections to form, and festival-like events were hosted with this purpose in mind. Via the help of the Government and VINASA’s partners, domestic enterprises can save much money when trying to create links with international markets. Therefore, he hoped that IT software and service companies can take good advantage of these activities.
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Young people are learning about smart technologies in a technology exhibition held in HCMC. (Photo: SGGP) |
With the question for the Information and Communications Ministry (MIC) to comment on the potential for digital export for Vietnam in the near future as well as highly-sought-after technology fields in the world, Deputy Director Nguyen Thien Nghia of MIC’s ICT Authority said that the global IT service market (exclusive of the shares of leading BigTech like Infosys, Ascernture) is $1 trillion. Vietnamese enterprises in the field can participate in the sections of Information Technology, Original Equipment Manufacturing, and Original Design Manufacturing.
He then stressed that the level of domestic IT enterprises cannot compete with BigTech such as Microsoft, Amazon, Google, Oracle, SAP, Meta. However, there are many market sectors that those giants cannot cover, and thus an opportunity for Vietnamese companies, many of which have reaped their success like FPT, VMO, NTO, TMA. It is necessary for each business to see the overall picture and understand its own capacity to achieve success.
Deputy Director Nghia further informed that MIC has considered the expansion of Vietnamese digital companies into international markets as one of the national strengths. Therefore, it is going to launch several activities, strategies for support in the upcoming time. It is critical for those enterprises before going abroad is to thoroughly understand the culture and language of destination nations, which means selecting suitable human resources.
In addition, before developing a certain IT product or service, businesses should identify their own market sector in destination countries as it will greatly affect products’ technical, interface, philosophy features. MIC also wants to remind that the Vietnamese ecology for IT products and services is a part of the global one, so there will be many tasks that domestic companies can do in international markets in the future.
Finally, Director Ngo Minh Tri mentioned the forecast of the International Monetary Fund (IMF) that 2023 is a sensitive year for the global economy, with various instabilities and depressions, leading to possible drops of input materials and human resources. Hence, some businesses will have to reduce their staff for the sake of optimizing trading activities, while others – called ‘game changer’ – may grasp opportunities to achieve breakthroughs. IT industry is a game changer when the forecast for IT expenses worldwide is expected to increase by 5.1 percent to reach $4.6 trillion.
Director Tri hoped that FPT could be a capable ‘game changer’ in the international market when it expands to important destinations of MILAR (Morocco, India, Latin, America, Romania) and follow the Mergers and Acquisitions (M&A) direction.
