ICT industry revenue rises sharply in first four months

May 14, 2024 | 19:13

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Revenue of the entire ICT industry is estimated to reach $56.9 billion in the first four months of 2024, up 26 per cent over the same period last year and reaching 32.7 per cent of the annual target, according to the Ministry of Information and Communications (MIC).

Also, during this period, the ICT industry's contribution to the state budget is estimated to reach $1.35 billion, an increase of 6.8 per cent on-year.

ICT industry revenue rises sharply in first four months

At a press briefing chaired by Deputy Minister Nguyen Thanh Lam on May 13,

the ministry reviewed its four-month performance and announced key tasks for the upcoming months. The MIC has advised and submitted a number of decrees that focus on regulating the list of national databases; amending and supplementing rules on the implementation of digital signatures and digital signature authentication services, as well as

regulating basic information activities. This creates an important legal foundation, creating better conditions for people to get equal access to information.

The MIC also issued a circular planning the frequency bands 1710-1785 MHz and 1805-1880 MHz for the International Mobile Telecommunications public terrestrial mobile communication system of Vietnam.

In April, the ministry organised a number of outstanding activities, such as the Book Fair to celebrate the third Vietnam Book and Reading Culture Day 2024; the eighth meeting of the National Committee on Digital Transformation; and a seminar on network information security.

The ministry granted the licence to establish a network and provide terrestrial mobile communication services using 5G technology to Viettel and VNPT.

It also launched the Handbook on compliance with legal regulations and enhancing information system security, and the Handbook on preventing and minimising risks from ransomware attacks to help agencies, organisations and businesses improve their ability to proactively respond to detect cyberattack risks.

It also issued a decision to suspend the licence to provide G1 online game services for a period of three months for 49 businesses for violations.

In the upcoming months, the MIC will submit a number of important legal documents on regulating electronic signatures and reliable services; electronic transactions in state agencies and information systems serving electronic transactions; amending and supplementing regulations on management of investment in IT applications using state budget capital.

In addition, other key tasks will include developing a circular regulating the recognition of organisations providing foreign electronic signature authentication services; recognition of foreign electronic signatures and electronic signature certificates; as well as the establishment and operation of a system for receiving and synthesising data for state management of electronic transactions of state agencies.

The ministry will issue the guidance for ministries and agencies to develop and put into use national digital platforms to promote digital transformation and develop the digital economy, and guidance on ensuring information security at ministerial and provincial levels.

It will also deploy the Vietnamese Large Language Model and Virtual Assistant to support state officials.

ICT industry expects legal advances for growth burst

Driven by good performance of the ICT industry, Vietnam will issue a number of long-awaited supporting policies ad strategies to strongly accelerate digital transformation in 2023, betting on the ambition to become a regional tech hub for global giants.