Wide open opportunities in foreign markets for Vietnamese digital technology enterprises

Representatives of the Ministry of Information and Communications and ministries, sectors and organizations attending the second global digital cooperation conference all said that Vietnamese digital technology enterprises have many favorable conditions and open opportunities to cooperate and invest in foreign markets.

Affirming commitment to accompany digital technology enterprises On March 26, in Hanoi , the Ministry of Information and Communications held the second conference on global digital cooperation, with the theme "Opportunities for Vietnamese digital technology enterprises in foreign markets". This is a continuation of the program to support digital technology enterprises to go abroad, launched by the Ministry of Information and Communications since February 2023. At the first conference of the campaign, Minister of Information and Communications Nguyen Manh Hung pointed out: "Without going abroad, without competing, without conquering, without revenue from foreign markets, Vietnam cannot become a developed country with high income". The head of the information and communications industry also called on Vietnamese digital technology enterprises to reach out and conquer the world in a Vietnamese way, following the Vietnamese path.

Deputy Minister Phan Tam said that Vietnamese digital technology enterprises are entering a new stage of development, bringing Made in-Vietnam digital products and services to the world. Photo: T.Anh

As an affirmation of the commitment of the Ministry of Information and Communications and relevant state management agencies, this conference focuses on providing domestic digital technology enterprises with comprehensive information on the world situation and market, along with analysis and assessment of the potential and opportunities of Vietnamese enterprises. Informing enterprises and organizations attending the conference on March 26, Deputy Minister of Information and Communications Phan Tam said that this year, the Ministry of Information and Communications continues to focus on supporting Vietnamese digital technology enterprises to expand their markets and exploit investment and business opportunities in countries around the world. The program includes conferences and forums at home and abroad, and organizing booths at the world's leading exhibitions on ICT and digital technology.

Deputy Director of the ICT Industry Department Nguyen Thanh Tuyen informed about international cooperation of Vietnamese digital technology enterprises. Photo: T.Anh

From the perspective of the unit assigned by the Ministry of Information and Communications to promote and support businesses to reach out to the global market, in addition to pointing out the areas where Vietnamese digital technology businesses have advantages and potential for development in foreign markets, Deputy Director of the Department of ICT Industry Nguyen Thanh Tuyen also summarized 7 lessons learned from successful Vietnamese businesses in the Japanese market. An important premise for businesses to confidently reach out to the world Sharing at the conference, Deputy Minister Phan Tam said that, along with the development of the digital economy and digital society globally, Vietnamese digital technology businesses are having many favorable conditions to develop the market and expand cooperative relations with partners in countries around the world. Assessing that supporting digital technology businesses to reach out to international markets is a correct policy, Mr. Dang Khanh Linh, Deputy Director of the Department of Economic Synthesis (Ministry of Foreign Affairs ) said: "The cake" and opportunities in foreign markets are still very much. Some opportunities for Vietnamese technology enterprises in the international market include: Countries have policies for digital transformation and investment in technology, digital cooperation is upgraded, upgraded in relations with other countries and foreign affairs activities; or specifically, India has a huge demand for human resources...

Vietnamese digital technology enterprises are considered to have many opportunities and favorable conditions to expand into foreign markets such as Japan, Korea, the US, Australia, etc. Illustration photo: N. Phuong

Representatives of specialized agencies of the four ministries: Information and Communications, Foreign Affairs, Planning and Investment, and Industry and Trade all agreed that, in order to develop the market and expand investment cooperation abroad, in addition to advantages, businesses also have to face many challenges and risks. Therefore, understanding the market, their own capacity and strengths is an important premise for businesses to take firm and confident steps into the world. Therefore, most of the time of this conference was spent on representatives of trade and investment agencies of Australia, India, the United States, Korea, Japan, the United Kingdom, and Europe to share and update information for Vietnamese technology organizations and businesses on market demand, regulations, and especially policies to encourage and attract investment.

Ms. Eunjung Han, Vice Chairwoman of EuroCham's Digital Subcommittee, shared at the second global digital cooperation conference. Photo: T.Anh

According to Ms. Eunjung Han, Vice Chair of EuroCham’s Digital Subcommittee, the European Union will increase its support for digital transformation in the coming years, as demonstrated by the recent proposal for the “Digital Europe” program, which is expected to last until 2027. As the first funding program dedicated solely to supporting digital transformation in Europe, “Digital Europe” provides strategic funding, supporting projects in five key areas and competencies: Supercomputing, artificial intelligence, cybersecurity, advanced digital skills and ensuring the widespread use of digital technologies in the socio-economic sector. Ms. Eunjung Han also noted that as Vietnamese businesses seek to expand their operations to Europe, it is essential to understand the legal framework governing investment and incentive programs designed to facilitate foreign participation in the European Union economy. Chief Representative of the Japan External Trade Organization (JETRO), Mr. Takeo Nakajima, said that the Japanese market has been penetrated by many Vietnamese technology enterprises, of which the most successful is FPT . “To attract foreign enterprises, the Japanese Government does not provide financial or tax support. However, we provide many soft supports, for example, activities related to registration, business connection, consulting support on business models, or support for R&D activities and programs,” Mr. Takeo Nakajima informed.

Policies and incentives to attract foreign investment in major markets are a key content of the conference. Photo: T.Anh

“The content shared by domestic and foreign agencies and organizations at the conference will help Vietnamese digital technology enterprises have more data and basis to review, evaluate and make decisions, and have more confidence to have new plans and goals on the path to conquering and developing the market, expanding cooperative relations with partners around the world,” said a representative of the Ministry of Information and Communications.

Vietnamnet

source: https://vietnamnet.vn/co-hoi-rong-mo-tai-thi-truong-nuoc-ngoai-cho-doanh-nghiep-cong-nghe-so-viet-nam-2263991.html