Potential for technology businesses in Vietnam

In recent years, the Technology industry is receiving more and more attention from corporate investment funds. Especially with the difficult context of the pandemic and other economic problems, the good control of Covid-19 and the government’s support in the technology sector make Vietnam a potential market for startups. , international investors and we are also increasingly focusing on investing in the Technology industry to maintain an advanced environment for society through technology services, solutions and software! So what advantages help businesses in Vietnam can reach further?

Where is Vietnam on the world technology map?

In Southeast Asia, we rank second in the digitalization market in terms of growth rate (According to ADB experts). Not only has the development of knowledge supply grown, but our technology ecosystem has also flourished, especially during the Covid-19 period. There have been many technology businesses taking advantage of that difficult time to keep their growth pace. For example, technology enterprises in the field of education such as Azota. With new funding from the digitization of online learning, Azota plans to improve its system performance and introduce more features to better serve teachers’ needs by enhancing blended learning in the post-Covid era. It can be seen that Startup Vietnam is very “hot”, attracting many international investors’ attention.

The advantages of the Vietnamese technology market for businesses

Businesses in Vietnam also take advantage of human resources and save costs in the production process thanks to the Vietnamese market. Pham Tien Hung, co-founder and CTO of Eureka Robotics – a robotics company based in Singapore, said: “In the past, Vietnam was known to the world as a cheap outsourcing market, but now companies are In the country, there are also high human resources, creating practical products that are recognized by the world”.

Another special feature is that Vietnamese technology industry personnel can enter a ripe stage when many generations of engineers who have studied and trained in international corporations and technology companies return to their homeland to pay tribute to the future. give. Technology training schools also pay more attention to the process of practice, research and human resource development to go international. Not only has the advantage of human resources, in the context of the recent Covid-19 raging around the world, the Vietnamese government still maintains an environment that allows businesses to operate in parallel and creates many favorable conditions for businesses.

Vietnam is even a desirable environment in many parts of the world while still supporting businesses to travel and maintain production during the pandemic. It can be said that the government’s support for technology businesses is one of the important stepping stones for Vietnamese businesses to break through during the pandemic and reach out to the world. “Even international investors realize that in Vietnam pioneering companies in the fields of AI, Blockchain, IoT are benefiting a lot from the legal system and the government’s support. They are not only Vietnam is considered a potential market with fast development speed, but also has a stable and secure environment for investment and development”, JobHopin CEO shared.

During the Covid-19 pandemic, many technology businesses still recorded impressive growth and the ability to reach out to the international market. “Previously, to install and repair a robotic system for international partners, Eureka Robotics had to have its own staff to come to the place to support. But when the pandemic happened, people were restricted from moving around. In the end, the company had to develop digital tools and systems that allow remote instruction and take advantage of local labor to handle work. helping the company find customers in difficult markets such as Japan and Korea, and when the pandemic is over, this will continue to be an important “weapon” for the company to reach out to the international market and compete with international competitors. global competitors,” shared Mr. Tien Hung. According to technology leaders, the strength of Vietnamese technology companies when entering the international market lies not only in their talented and hardworking staff, but also in their flexible thinking and ability to respond quickly with many situations.

It can be seen that Covid-19 is a global challenge, but from another perspective, this is also an opportunity for Vietnamese businesses to be empowered and demonstrate their ability in solving global problems. When we go out into the world, we must have solutions that are global, flexible and accessible to different markets. In addition, special attention must be paid to the customer market, understanding the “pain” of the business to offer radical solutions, not just general problems. With those potentials, in the next few years, Vietnam will become an ideal playground for technology corporations not only at home but also abroad, forecasting growth spurts in the economy and solving the problem. jobs for current human resources.