Vietnam’s ICT sector sees growth in first quarter

The Ministry of Information and Communication (MIC) on March 11 held a meeting to review the first-quarter performance and set tasks for the upcoming months.

Specifically, the post industry saw an on-year increase of 47 per cent in postal output during the period. Its service revenue is estimated at $474.68 million, up 28.57 per cent on-year.

In telecommunications, as of February, the percentage of households using fiber optic cable reached 80 per cent, an increase of 4.6 per cent over the same period in 2023.

The number of smartphone subscribers reached over 100 million, an increase of 1.2 per cent over the same period in 2023; and the number of mobile broadband subscribers reached 89.8 million subscribers, an increase of 6.4 per cent.

50 provinces have issued policies to reduce fees and charges, and 13 provinces issued policies to reduce processing time to encourage people to use online public services.

In the field of network information security, in the first two months of 2024, its revenue was estimated to reach $33.9 million, an increase of 46.8 per cent on-year.

The development of digital society also saw improvements. Vietnam has six mobile applications with over 10 million users, and 11 applications have 5-10 million users. Total IT industry revenue in the first two months of 2024 reached over $25.2 billion, up 25 per cent on-year.

The export value of hardware and electronic products reached over $20.9 billion, up 21.8 per cent over the same period in 2023, and accounting for about 33 per cent of the country's export value.

In 2024, the country will develop its digital economy with a focus on the four pillars of the ICT industry, digitalisation of industries, digital management, and digital data.

According to the MIC, 2024 will be the year to universalise the digital infrastructure and other foundational elements of the digital transformation. Online public services must be comprehensive and substantive, allowing procedures to be done remotely from home. The target is to reach an adoption rate of 70 per cent of the population.

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.

New development space opens for Vietnam’s ICT industry Despite ongoing challenges, new development opportunities are emerging for Vietnam’s ICT industry, driven by 4G and 5G networks.

Vietnam’s ICT industry: Outstanding results in 2023 and new plans for 2024 Having seen some outstanding results in 2023, Vietnam’s ICT industry has set new tasks for 2024 to expand its growth potential and increase its economic contribution.