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| An electronic component assembly line at the Sun Technology Joint Stock Company__Photo: VNA |
By 2045, Vietnam aims to become a developed digital technology industry nation and one of the regional and global leading hubs of digital technology industry with at least 10 domestic tech firms on par with international rivals and the prestigious “Make in Viet Nam” brand recognised worldwide.
This ambitious vision is outlined in Prime Minister Decision 982/QD-TTg approving a national scheme on provision of support for digital technology enterprises to go global through 2030, with a vision towards 2045.
The decision, effective as of June 4, states that the ultimate objective of the scheme is to cultivate a cohort of highly competitive tech firms that master core and strategic technologies, allowing them to integrate deeply into the global value chains. By establishing a robust and sustainable tech ecosystem, Vietnam aims to drive double-digit economic growth and elevate its national prestige on the global stage.
To realise these goals, the Government has set concrete benchmarks to be achieved by the turn of the decade. By 2030, at least 5,000 Vietnamese digital technology enterprises will generate revenues from international markets, pushing the sector’s annual export revenues to at least USD 55 billion with an annual growth rate of around 30 per cent.
In addition, the country aims to have 60 digital technology enterprises each earning an annual overseas revenue of USD 20 million and five giant tech firms earning at least USD 1 billion per year. The scheme also targets the successful completion of at least 25 M&A, joint ventures or strategic partnerships between Vietnamese digital technology firms and international partners with each transaction valued at USD 1 million or more.
By 2045, Vietnamese digital technology enterprises are expected to not only master technology and markets but also shape global digital technology trends, contributing to the establishment of international digital standards and ecosystems while promoting a fair, inclusive and sustainable international digital economic order.
The scheme provides eight comprehensive groups of tasks and solutions. First and foremost, the Government will refine the institutional framework by streamlining administrative procedures, alongside proposing corporate tax incentives and financial support mechanisms to lower compliance costs for enterprises. Concurrently, a system of national technical standards and regulatory sandboxes for emerging digital technology products and services, such as AI and IoT, will be established.
Furthermore, investment resources will be prioritised for research and development projects and high-quality human resource training through the "State - university - enterprise collaboration" model. To unlock capital flows, the State will provide credit guarantees, diversify investment funds and assist enterprises in raising capital and launching initial public offerings on the international market.
On the global stage, the “Make in Viet Nam” brand will be synchronically promoted via multilingual media campaigns and national digital pavilions. This strategy also focuses on cultivating at least five flagship digital technology enterprises to lead and support small- and medium-sized enterprises in integrating into global supply chains through a financial voucher policy.
Finally, the scheme will drive cross-border M&A, leverage the bridging role of Vietnam’s overseas science and technology representatives, and operate a key performance indicator dashboard to measure and accurately evaluate the global expansion rate of these enterprises.- (VLLF)
