ICT firms see bumper 2022 thanks to overseas ventures

For the first time in its history, Viettel’s telecom services revenue from outbound markets hit $3 billion in 2022, showing a 21 per cent jump on-year and maintaining double-digit growth for six consecutive years, 6.8 times the world average, and trending to become equal to its revenue from the domestic market.

Accordingly, Viettel’s 2022 pre-tax profit approximated $188 million, 30 per cent beyond projections.

Inward money streams touched $445 million, setting a five-year record, particularly from Peru where the market reached $202.5 million, setting an all-time record.

After 16 years of ventures in 10 international markets, Viettel currently secures the number-one position in Laos, Cambodia, Myanmar, East Timor, and Burundi.

Viettel saw record growth in the number of broadband fixed line subscribers in Asia and they took the lead in mobile subscribers in African markets.

Another major telecoms player, CMC Corporation, posted net revenue reaching $374 million, up 24 per cent on-year.

CMC’s revenue in international trade saw a 75 per cent hike as their S2K project, run by CMC Global, raked in $150 million in revenue, placing CMC among the top software exporters in Vietnam.

Meanwhile, after 23 years of international ventures, FPT hit $1 billion in revenue from overseas markets for the first time, growing more than 30 per cent on-year.

As of November 2022, FPT's American markets saw the fastest growth, surpassing 48 per cent, while Asia-Pacific surged 47 per cent, and the Japanese market rose by 27 per cent.

Also last year, FPT opened a string of representative offices in the US, Denmark, Thailand, and Japan, raising the number of software and resources development centres to 22 across 27 countries.

“Notably, revenue from digital transformation covered nearly half of the company’s total revenue from overseas markets. Together with the community of local ICT firms, FPT helps place Vietnam second in the global digital map, just behind India,” said Nguyen Van Khoa, CEO of FPT.

Another eminent software firm, Rikkeisoft, wrapped up 2022 as a digital enterprise with 1,600 personnel coming from 10 different nations, with their Japanese office featuring a headcount of 1,000, making it the second-largest ICT firm in Japan.

Also in 2022, game developer VNG successfully distributed 12 game titles to seven overseas markets. By the end of the year, VNG were running 80 game titles in 15 markets with frequent-user numbers surpassing 20 million.

According to Minister of Information and Communications Nguyen Manh Hung, 2022 marked Vietnamese ICT firms’ robust landing in overseas markets.

“Vietnam could hardly be placed in the group of high-income countries not leveraging outbound investment ventures as well as counting revenue from outbound markets,” said Hung.

Hoang Tuan Hai, chairman and CEO of tech firm VMO Holdings, which operates in markets such as the US, Japan, Singapore, and Thailand, voiced the need for the state to support the opening of representative offices abroad.

“Vietnam needs to set up technology offices and centres in the world’s biggest markets to support firms that wish to increase networking with foreign partners,” said Hai.

Nguyen Viet Lam, deputy CEO of Rikkeisoft, called on the Ministry of Information and Communications to create platforms to promote cooperation with major foreign partners, as well as craft policies that connect businesses with professional training schemes to thoroughly prepare quality human resources to enter the global market.

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