Vietnamese tech enterprises gateway to Japanese market

The seminar “Tokyo-Vietnam Business Partnership,” hosted by the Tokyo Small and Medium Enterprise Support Centre on November 20, provided comprehensive support and insights for small and medium-sized enterprises in Vietnam, covering areas from startup and commercialisation to market expansion, overseas ventures, and succession or revitalisation, with a focus on entering the Japanese market, particularly the prime opportunities in Tokyo.

Overview of the conference. Photo: Tokyo SME Support Centre

During the event, insights were shared on the private research report ‘e-Conomy SEA 2024,’ and Yuji Ikeda, Singapore representative at Deloitte Tohmatsu Venture Support Co., Ltd. said that Vietnam's digital economy was expected to reach $36 billion at the end of this year, a 16 per cent increase from the previous year, ranking third among Southeast Asia's major six countries, after Indonesia and Thailand.

“This represents remarkable progress. As digital economies powered by AI are expected to grow, it goes without saying that stronger collaboration between Vietnam and Japan, centred on technology, will be increasingly important,” Ikeda said. “The development of digital transformation has accelerated the digital economy in various sectors. Looking at Japan's industry, we find that Japan has a high percentage of R&D investment in its GDP. It leads the world in the proportion of technical and semi-specialised workers in the labour force, and its competitive edge in research and development continues to produce new technologies.”

Founded in early 2016, NTQ Japan has rapidly emerged as the boom of NTQ Solution in the Japanese market. After seven years of establishment and growth, NTQ Japan has solidified its position as a leading and reputable technology company in software development and digital transformation solutions, becoming a trusted partner for numerous major corporations in Japan and globally.

Mizuno Gia Cat, brand manager at NTQ Japan, a software development and IT consulting firm, projected that by 2030, despite all efforts, Vietnam may only supply around 50,000 IT professionals proficient in Japanese, while the demand shortfall could reach up to 800,000.

“This remains a modest figure, underscoring the vast untapped potential of the Japanese IT market," she noted.

Mizuno Gia Cat, brand manager at NTQ Japan speech at the conference. Photo: Tokyo SME Support Centre

She emphasised the importance of enhancing training for Japanese-speaking IT personnel to meet the growing demand in Japan.

“Although challenges persist, particularly with the Japanese yen experiencing significant depreciation, the market still offers many opportunities. Businesses must adopt diverse management and development strategies to adapt to changes in the business environment,” she added.

As a leading technology company in software development and digital transformation solutions in Japan, NTQ Japan highlighted that Tokyo’s government and local organisations have implemented numerous support programmes for the Vietnamese community, ranging from visa procedures to business investments. Notably, real estate companies and specialised services for Vietnamese individuals have made it easier for the community to purchase property and make investments in Japan.

“With comprehensive support and a favourable business environment, Japan is becoming an ideal destination not only for Vietnamese residents but also for Vietnamese businesses seeking opportunities here,” Mizuno said.

Japanese investors highly appreciate Vietnamese property market Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.

Tech in Asia makes Vietnamese debut Tech in Asia, a Singapore- and Jakarta-based online media platform that focuses on the tech startup industry, hosted its inaugural Saigon Summit in Ho Chi Minh City on May 30.

Vietnam a key market for Japanese Japanese investors continue to bet on Vietnam’s market with rising strategic partnerships and greenfield investments.