Vietnam tech sector booms with 74,000 companies, 1.2m workers
By 2025, the ICT industry's revenue is expected to reach $169.3 billion, an 11.4% increase compared to 2024.
As of the end of 2024, Vietnam has 73,788 digital technology businesses, a 10.1% increase compared to the same period in 2023, employing nearly 1.26 million workers in the Information and Communication Technology (ICT) field.
According to a report from the Ministry of Information and Communications, the total revenue of Vietnam's digital technology businesses reached nearly $158 billion in 2024, a 10.2% increase compared to the previous year.
Notably, approximately 1,900 digital technology businesses in Vietnam recorded revenue from international markets, a 58% decrease compared to 2018. However, the total revenue from overseas markets for these businesses actually saw a 54% increase compared to 2023, reaching $11.5 billion in 2024.
Revenue from hardware and electronics exports is estimated at $133.2 billion, a 10.4% increase compared to 2023. Additionally, the domestic value ratio in the total ICT industry revenue is estimated at 31.8%, a 3.1% increase compared to the previous year. This shows that the capacity of domestic technology businesses is improving, making significant contributions to the value of Vietnamese technology.
The ministry also stated that by 2025, the ICT industry's revenue is expected to reach $169.3 billion, an 11.4% increase compared to 2024.
Exports of hardware and electronics - a key sector of the industry - are projected to reach $148.5 billion, a 12.3% increase compared to the previous year.
