The ICT industry’s revenue in 2024 was estimated at VND3,878,296 billion, an increase of 11.2 percent compared to 2023

According to the Ministry of Information and Communications, the ICT industry’s revenue in 2024 was estimated at VND3,878,296 billion (approximately US$151.86 billion), an increase of 11.2 percent compared to 2023 (US$137 billion). The export value of hardware and electronics was estimated at US$132.341 billion, up 11.6 percent from 2023. As of November 30, 2024, there have been 54,500 digital technology enterprises in operation in Vietnam, a 16 percent increase compared to the same period in 2023.

In 2024, the rate of Vietnam’s value to the ICT industry’s revenue reached an estimated 31.8 percent, an increase of 3.1 percentage points compared to 2023.

As of November 2024, Vietnam has had seven information technology parks, including Quang Trung Software Park, Da Nang Software Park, Cau Giay IT Park in Hanoi, Da Nang IT Park (DITP), FPT Office Complex, Hanoi Software Technology Park (Hanel), and Can Tho City IT Park, covering a total area of nearly 2,500 hectares.

In 2025, the ICT industry aims to achieve revenue of US$169.3 billion, an increase of 11.4 percent compared to 2024. The export value of hardware and electronics is targeted to reach US$148.5 billion, an increase of 12.3 percent compared to 2024. The number of operational digital technology enterprises is expected to reach 60,000 by the end of 2025, a 10-percent increase compared to 2024.

To achieve these goals, the key tasks include improving the institutional framework, building the Digital Technology Industry Law and related guiding documents to turn the digital technology industry into a major economic sector, and creating the most favorable environment for digital technology enterprises to develop.

The development of the digital technology industry should focus on Vietnamese enterprises, helping them gradually shift from assembly and outsourcing to creativity, design, integration, manufacturing, and master core technologies in Vietnam. This will contribute to building a digital government and serve as a driving force for the development of the digital economy and digital society.

At the same time, it is necessary to ensure the effective implementation of the Vietnam Semiconductor Industry Development Strategy until 2030, with a vision to 2050, implement trade promotion activities for digital technology products and services, and promote investment in the digital technology industry, and foster the development of Vietnamese digital technology enterprises. Digital technology enterprises should be supported in expanding their production and business operations, strengthening their presence in the domestic market, and exploring new potential markets.