Quang Trung Software City in Ho Chi Minh City, the country’s top information and technology hub, reported revenues of VND3.3 trillion ($142 million) in the first half this year for the 155 businesses operating inside. This figure, which was up 25.5 percent year-on-year, included $93.4 million worth of software exports, up 36.5 percent. Revenues of Quang Trung Software City last year were worth over VND8 trillion ($344 million), a 25 percent rise over 2016. These growth rates are common for top software companies, including giant FPT Software, which has been reporting them since 2010. Last year FPT’s exports were worth VND6.2 trillion ($266 million). It plans to increase that number to VND7.7 trillion ($331 million) this year, and to $1 billion by 2020. The high growth rates obviously mean increasing job creation by the sector. Data from VietnamWorks, a leading recruitment company, shows there were 15,000 new jobs in the information technology sector last year, … [Read more...] about Vietnam software industry sees robust growth
The Hanoitimes - The Vietnam Software and IT Services Association (VINASA) launched "Vietnam’s 50 Leading IT Companies 2018" program in Hanoi on July 3. Illustrative image Aside from the selection of 50 leading IT companies in Vietnam like in previous years, VINASA has picked the top ten enterprises most technologically prepared for the Fourth Industrial Revolution, also known as Revolution 4.0. They are outstanding enterprises in digital transformation, internet of things, and new technology trends. This is the fifth year VINASA has organized the program to select prestigious and competent IT firms in Vietnam to introduce, promote, and connect with potential partners at home and abroad, ICT News and Vietnam News Agency reported. In 2017, the 50 selected enterprises from the program earned over VND20.676 billion (US$936 million) in revenue, accounting for nearly a quarter of the total revenue of the software and IT services industry. A total of 35,542 people worked … [Read more...] about Vietnam selects top ten firms most ready for Revolution 4.0
VietNamNet Bridge - Vietnam’s software firms are developing steadily with stable revenue growth rate of 50 percent per annum. Vietnam's software industry is developing rapidly One of the most important goals set in the Party Politburo’s Directive No 58 released in 2000 was developing IT, especially software, into an important key industry Vietnam’s software firms only began learning ‘how to walk’ two decades ago, when China and India had already become the world’s software export centers. However, they just needed a short time to be added to the list of leading software exporters. In 2000, FPT took the first steps to export software. But in 2014-2017, the largest Vietnamese IT group was recognized by IAOP (International Association of Outsourcing Professionals) as one of top 100 outsourcing service providers – The Global Outsourcing 100. Gartner, when assessing the IT outsourcing services provided by the countries in Asia Pacific, … [Read more...] about What’s status of Vietnam’s software industry after two decades of development?
Vietnam continues to be a favored outsourcing destination for multinational companies even as the current leader, India, experiences some hiccups. A recent article in the Forbes magazine said in its title that Vietnam was a “small but mighty powerhouse” for IT outsourcing. It said giant technology companies like Intel, IBM, Samsung Display, Nokia, and Microsoft continue to invest in Vietnam’s growing tech workforce. The author of the article, Anna Frazzetto, Chief Digital Officer and Senior Vice President at Harvey Nash, which has a decade plus of outsourcing experience in Vietnam, said, “technology specialists in Vietnam are comfortable with quickly becoming a natural extension of global clients, ready to challenge norms and bring innovative ideas to the table.” Another major factor that makes Vietnam attractive is the tendency of people to stay on in the country, unlike IT professionals in India, Malaysia and other countries who are ready to move to … [Read more...] about Vietnam poised to build on IT outsourcing gains
VietNamNet Bridge - On a nice day in 2013, Lam Quoc Vu, full of hope, met investors to raise funds for QA Symphony, his two-year-old business. But investors in Silicon Valley took the wind out of his sail. Mr Lam Quoc Vu Vu had only two minutes to talk about his project and had to leave after two questions. However, four years later, QA Symphony got $40 million from Insight Ventures Partners. It is difficult to become a product development or an outsourcing company. The former has to spend big money on product design, market openings, marketing and sales. However, the latter cannot create big value. It is difficult to become a product development or an outsourcing company. The former has to spend big money on product design, market openings, marketing and sales. However, the latter cannot create big value. RELATED NEWS Vietnam software segment lags in innovation, creativity Vietnamese software companies invest in Japan Mai Chi … [Read more...] about The man with a ‘made-in-Vietnam’ software dream