Vietnamese digital technology companies reached a significant milestone in 2024, achieving $11.5 billion in revenue from overseas markets, with an impressive annual growth rate of over 30%.

As Vietnam aims to bolster its digital technology position globally, it has set an ambitious target: by 2035, the overseas revenue of Vietnamese digital tech firms is expected to soar to $100 billion, surpassing agricultural exports.

Speaking at the 6th Make in Vietnam Forum on January 15, Minister of Information and Communications Nguyen Manh Hung emphasized the magnitude of this goal.

"This is a challenging target for Vietnamese digital technology companies," the minister remarked.

"However, failing to achieve this would mean Vietnam cannot be considered a regional and global hub for science, technology, innovation, and digital transformation. Exporting technology is the litmus test for Vietnamese tech," he said.

The slogan "Made in Vietnam" embodies a spirit of self-reliance and mastery over technology and applications. Minister Hung asserted that this vision will not only propel Vietnam towards prosperity but also contribute to national peace by enhancing the country's defense and security capabilities.

Over the past five years, the Vietnamese value in the digital technology sector has grown from 20% to 32%. In 2024, the Vietnamese contribution to the $158 billion digital tech industry stood at 32%, with a goal of surpassing 50% by 2030. This ambitious objective is designed to help Vietnam escape the outsourcing trap, which the minister equates to the middle-income trap.

The number of Vietnamese digital technology companies has surged by 50% over the past five years. With 74,000 digital tech firms in a nation of 100 million people, Vietnam boasts one of the highest ratios of digital technology companies per capita among developing countries, according to the minister.