Speaking at the annual Vietnam IT Outsourcing (VNITO) Conference, Pham Thiet Hoa, director of the Investment and Trade Promotion Centre of HCM City (ITPC), said according to the e-Conomy Southeast Asia report for 2019 released by Google, Temasek and new partner Bain & Company, Vietnam leads Southeast Asia in internet economy growth with a rate of 40 percent.

Hanoi and HCM City are among the 10 most dynamic cities in the world this year according to the City Momentum Index, he said.

Vietnam had 3,000 start-ups in 2019 to rank third place in Southeast Asia, and the number continues to increase each year, he said.

“Vietnam’s high-tech companies are keeping abreast of the latest global industry 4.0 technology trends in areas like big data, artificial intelligence/machine learning, internet of things, blockchain, and digital transformation.

“Moreover, the Government and the HCM City administration are also deploying projects to build smart cities around the country, promoting innovative start-up programmes, and implementing projects to transform HCM City into a regional and international financial hub.”

Pham Thiet Hoa, director of the Investment and Trade Promotion Centre of HCM City, speaks at the event

Those favourable conditions are of great advantage to Vietnam, especially to enterprises who want to provide products and services based on new technologies, and provide a golden opportunity for its IT industry to break through and become the regions’ leading innovation hub, he added.

Lam Nguyen Hai Long, honorary Chairman of the Vietnam Information Technology Outsourcing Alliance (VNITO Alliance) and CEO of Quang Trung Software City (QTSC), said when talking about IT services earlier people only focused on IT outsourcing, but in the last five years Vietnam-made IT products have started to appear in the market.

“In the past we mainly programmed and wrote code based on foreign companies’ demands. In recent years we have been hired to do innovative work or part of products.

“Vietnamese companies, after doing software outsourcing for foreign companies, have acquired a lot of experience and moved to the next level and can come up with made-in-Vietnam products that are appreciated by global companies.

“We are encouraging companies to enhance innovation and improve R&D activities to create products for the global market.”

Speaking to the media on the sidelines of the conference, Nguyen Cong Ai, partner, deal advisory strategy at KPMG Vietnam, said a recent survey by KPMG and Gartner of over 1,000 CEOs of large IT companies, found that if businesses do not fully embrace digital reform they would fail in the competition.

“Half the participants at the conference are from foreign countries, showing they pay close attention to the Vietnamese market because Vietnamese people are highly innovative.

“Vietnam’s innovation level is consistently increasingly, and this will continue for the next five to 10 years.”

To further boost innovation, the education system needs to be reformed further to stimulate creativity among students and provide better foreign language training, he said.

Organised by ITPC, VNITO Alliance, and QTSC, the conference also discussed enabling innovation in Vietnam, how to build a collaborative innovation team for the business, cooperation between Vietnam and Japan in industry 4.0, tech talent, opportunities for Korean and Vietnamese companies in developing tech solutions, and several other issues.

It also saw the signing of an agreement between the VNITO Alliance and six entities from the Republic of Korea and Japan to promote trade and cooperation between them and Vietnam.

There was a technology exhibition showcasing products and solutions from IT firms.

Themed “Vietnam– The Emerged Destination for Innovation,” the conference was aimed at promoting the strengths of the country’s IT industry, providing information about and assessments of its IT market and facilitating trade promotion and business matching.

Source: VNA