Software firms assert footprint in billion-dollar markets

On the first day of February, Rikkeisoft announced the establishment of RKTech with an office in Plano city in the US state of Texas with the goal of providing comprehensive and high-value IT services to the world's largest technology market.

Ta Son Tung, chairman of Rikkeisoft said, “With a scale of more than $1.8 trillion a year, the US is the number-one tech market worldwide. Big tech-driven businesses in the world are all successful in the US.”

“It is a big challenge for Rikkeisoft, but with high aspirations and determination, we believe that within five years, RKTech will reach $100 million revenue in the US market. Besides this, we will continue to open more offices in Japan and Thailand this year.”

Similarly, FPT Software has also expanded its global outreaches through opening more offices abroad such as in Denmark, Thailand, and New York, bringing the total number of offices in its network to over 60 worldwide. After reaching software export revenue of $800 million in 2022, the company aims to touch the $1 billion threshold in 2023.

Do Cao Bao, a member of FPT's Board of Directors, said that FPT Software had been continuously expanding its footprints in foreign markets and now had a presence in 26 countries around the world.

Meanwhile, CMC Global, part of CMC Group, also quickly rose into one of the top 3 exporters of software and IT services in the Vietnamese market, with sales revenue surpassing $56.5 million and having more than 300 partners and customers from international markets.

The company’s 2,000-plus employees are working in 10 offices in Vietnam, Japan, Singapore and Thailand.

“CMC aims to become a world-class enterprise with billion-dollar revenue and over 10,000 employees. CMC will be consistent with the direction of acting as the consultant, providing cutting-edge digital transformation services” said Nguyen Trung Chinh, chairman of CMC.

In 2022, Vietnam's software and IT services industry scored about $9 billion in revenue, of which software export revenue exceeded $3.7 billion.

Currently, the total number of human resources in Vietnam's IT industry approximates 300,000 people. The software export business has been vibrant with the participation of a series of Vietnamese enterprises with eminent advantages in quality and price.

According to Nguyen Van Khoa, chairman of Vietnam Software and IT Services Association (VINASA), Vietnam's software and IT services industry has been listed in the top 10 worldwide, and is striving to reach the target of $50 billion in revenue by 2030, and $150 billion by 2045.

Minister of Information and Communications Nguyen Manh Hung has also directed VINASA to catch up with the fresh changes to craft a new direction for Vietnamese software and IT service enterprises.

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