The Ministry of Information and Communications (MoIC) has said that revenue in the information and communications technology (ICT) sector reached about $109.5 billion in the first nine months of this year, up 13 per cent year-on-year. Hardware-electronics totaled $97 billion, or nearly 90 per cent.

The figure in September was about $12.5 billion.

The export value of hardware and electronics stood at $90.7 billion in the first nine months, up 13 per cent year-on-year. Hardware and electronics exports from FDI enterprises accounted for 90 per cent. Computers and components brought in an estimated $43.1 billion, up 17.9 per cent, and phones and phone components $43.3 billion, up 5.6 per cent.

Revenue in the ICT sector has continually grown over recent years, even during the two years of Covid-19. As of the end of 2021, total revenue in the sector was $136.153 billion, an increase of more than $11.4 billion compared to 2020.

According to a draft State management briefing report for the third quarter of 2022 from MoIC, Vietnam had about 68,800 digital technology enterprises as of the end of September, an increase of over 400 compared to August and representing about 0.698 enterprises per 1,000 people.

The number of digital technology enterprises in Vietnam has continuously grown in recent years, from 45,600 in 2019 to 58,000 in 2020 and 64,000 in 2021. Vietnam targets having 70,000 enterprises in the sector by the end of this year.

Under the National Digital Transformation Program by 2025 and orientation to 2030, Vietnam targets having 80,000 digital technology enterprises by 2025.

To promote the development of the digital technology sector, the MoIC said that in the fourth quarter of this year it will complete dossiers for the building of the Law on Digital Technology Industry, adding to the Law and Ordinance Building Program in 2023.

It will also continue to implement activities to support policies, facilitate product commercialization, connect the supply and demand of digital technology enterprises with localities, and update information and data for digital technology enterprises, among other matters.