Vietnam Digital Tech Enterprises Forge Global Path at Second International Cooperation Conference in Hanoi
Vietnam’s digital technology sector stands at a pivotal juncture as domestic firms increasingly look beyond national borders to capture international market share, secure strategic partnerships, and scale operations globally. This momentum was a central theme at the Second Global Digital Cooperation Conference, convened in Hanoi by the Ministry of Information and Communications (MIC). Bringing together government officials, international trade representatives, industry associations, and hundreds of technology executives, the high-level gathering underscored a unified national ambition: transforming Vietnamese digital enterprises into competitive, globally recognized players under the banner of the "Make in Vietnam" initiative.
Background Context and Strategic Imperatives
The march toward globalization is not merely an optional expansion strategy for Vietnam’s tech sector; it is viewed by policymakers as an absolute necessity for the country’s long-term economic trajectory. The strategy traces its formal roots to February 2023, when the MIC launched a comprehensive support program designed to shepherd domestic digital enterprises into international markets.
During the inaugural campaign, Minister of Information and Communications Nguyen Manh Hung laid down the foundational philosophy of the initiative, asserting that without venturing abroad, engaging in fierce international competition, and securing overseas revenue, Vietnam cannot successfully transition into a high-income developed nation. The ministry has consistently urged domestic companies to leverage Vietnamese ingenuity, adopt indigenous pathways to innovation, and boldly conquer world markets.
Building directly on this framework, the second iteration of the conference shifted from ideological encouragement to tactical execution. MIC and participating government bodies focused heavily on arming domestic enterprises with actionable intelligence, thorough market analyses, and risk-assessment frameworks required to navigate complex foreign regulatory environments.
The Macro Landscape: Opportunities and Headwinds Abroad
Opening the discussions, Deputy Minister of Information and Communications Phan Tam emphasized that global digital and socioeconomic transformations have created exceptionally favorable conditions for Vietnamese tech firms to expand their international footprints. This assessment was corroborated by cross-ministerial partners, including the Ministry of Foreign Affairs, the Ministry of Planning and Investment, and the Ministry of Industry and Trade, all of which concurred that international market conditions are ripe for Vietnamese technological integration.
Dinh Khanh Linh, Deputy Director General of the Department of Economic Affairs under the Ministry of Foreign Affairs, highlighted the vast scale of the global opportunity. Linh pointed out that governments worldwide are actively channeling capital into digital transformations, elevating technological cooperation in diplomatic agendas, and grappling with severe domestic workforce shortages. These structural gaps have created wide "market spaces" that agile Vietnamese technology providers are well-positioned to fill.
However, government officials and international delegates were quick to temper enthusiasm with pragmatism. Expanding abroad inherently exposes enterprises to substantial regulatory, financial, and operational risks. Consequently, the MIC structured the conference to prioritize deep market intelligence, helping companies understand foreign legal frameworks, compliance mandates, and their own competitive capabilities before deploying capital overseas.
Insights from Global Trade Representatives and Key Markets
A significant portion of the conference was dedicated to briefings by trade promotion and investment agencies representing major global economies, including Australia, India, the United States, South Korea, Japan, the United Kingdom, and the European Union. These international representatives provided granular insights into local market demands, legal compliance, and foreign direct investment (FDI) incentive structures.
Eunjung Han, Vice Chair of the Digital Economy Subcommittee at the European Chamber of Commerce (EuroCham), outlined the European Union’s reinforced commitment to digital transformation. Highlighting the recent push to extend the "Digital Europe" program through 2027, Han explained that the initiative serves as a primary financial vehicle supporting digital transitions across the bloc. With a strategic focus on five core areas—supercomputing, artificial intelligence, cybersecurity, advanced digital skills, and the widespread deployment of technology across the socio-economic fabric—the EU offers substantial collaborative opportunities for foreign tech partners. Han advised Vietnamese firms seeking expansion into Europe to meticulously study the legislative frameworks governing foreign investment and take full advantage of EU economic integration incentives.
Representing the Japan External Trade Organization (JETRO), Chief Representative Takeo Nakajima noted that the Japanese market has already welcomed numerous Vietnamese tech pioneers, most notably FPT Corporation, which has achieved remarkable success in the country. Nakajima clarified that while the Japanese government does not typically offer direct financial or tax subsidies to attract foreign enterprises, it provides robust soft support. This includes assistance with business registration, networking, business model consulting, and facilitating joint research and development (R&D) programs.
Economic Performance and Industry Benchmarks
The strategic push toward globalization is supported by tangible growth within the sector. Concluding statistics for the 2023 fiscal year reveal that approximately 1,500 Vietnamese digital technology enterprises generated revenue from international markets, marking a 7-percent increase compared to 2022. Total overseas revenue reached $7.5 billion, representing a 4-percent year-on-year growth rate.
Data from the Foreign Investment Agency under the Ministry of Planning and Investment further highlights the diversification of these international ventures. Out of more than 200 outbound investment projects within the information and communications technology (ICT) sector, telecommunications projects tend to be larger in capital scale and concentrated primarily in African nations. Conversely, information technology (IT) services projects, while characterized by smaller initial capital outlays, are heavily concentrated in mature, highly competitive markets such as Singapore, the United States, and Japan.
To further guide domestic companies, Nguyen Thanh Tuyen, Deputy Director General of the Department of ICT Industry, synthesized seven core lessons derived from the experiences of Vietnamese enterprises that have successfully penetrated the Japanese market. These localized best practices serve as a practical playbook for newcomers aiming to mitigate cultural, operational, and regulatory friction abroad.
Broader Implications and Future Outlook
The Second Global Digital Cooperation Conference reflects a maturing Vietnamese technology ecosystem. By bridging the gap between state-level diplomatic relations and enterprise-level execution, the Vietnamese government is systematically dismantling the barriers that traditionally constrain domestic companies from scaling internationally.
As foreign markets increasingly demand robust digital infrastructure, artificial intelligence integration, and specialized software engineering talent, Vietnam’s value proposition shifts from a mere outsourcing hub to a proactive co-creator of global digital solutions. Armed with comprehensive insights into European funding mechanisms, Japanese R&D support networks, and American market demands, Vietnamese digital enterprises are increasingly equipped to transition from regional contenders to resilient global competitors. The ongoing success of the "Make in Vietnam" strategy abroad will ultimately serve as a litmus test for the country’s broader ambition of escaping the middle-income trap and establishing itself as a recognized hub for advanced digital innovation.
