Vietnam’s top IT firms top $16 billion in turnover

Linh Le

The turnover of Vietnam’s top 50 IT companies topped $16 billion last year, according to the Vietnam Software Association.

The association (VINASA) released the figures on Monday along with the ranking of top 50 IT firms this year and top 10 companies with 4.0 technology capabilities.

There are 53 honorees in these two groups and their total turnover reached more than $16 billion, accounting for 35.5 percent of the country’s total software, digital content and IT services revenues last year.

According to VINASA, the 53 companies employ a total of 92,795 people, or 22.9 percent of the total human resources in the sector.

The top 10 outstanding enterprises in digital transformation for industry 4.0 era are Deha Vietnam, FPT, Misa, Sao Bac Dau, Viettel, V-Next Software, Novaon, VNG, VNPay and Nash Tech.

This year, the association is looking to boost members’ technology capacity to incorporate new advances like artificial intelligence (AI), big data and blockchain to solve current problems in society.

For instance, FPT developed a software for self-propelled vehicles and provided services for a large number of goods in Japan and Europe.

In addition to industry achievements, businesses also face the risk of serious shortage of human resources for industrial 4.0 revolution.

VINASA said that training and equipping human resources with knowledge and skills needed is a big challenge for the local technology sector.

According to a study by Cisco and Oxford Economics released at the World Economic Forum on ASEAN in Hanoi last week, Vietnam is among top 3 ASEAN countries that will face AI-related employment problems.

Singapore would be the worst hit with 21 percent, followed by Vietnam (13.8 percent), the Philippines (10 percent).

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