Plenty of growth potential remains for Vietnam’s supporting industries: official

Despite recent progress, Vietnam’s development of its digital economy and digital infrastructure still falls short of its potential and advantages, said Ho Thi Quyen, deputy director of the Ho Chi Minh City Investment and Trade Promotion Center (ITPC).

Quyen made the statement at the opening of the "Week of connecting trade and introducing products of the supporting industry, electronic equipment, and information technology 2025" in Ho Chi Minh City on Wednesday.

She emphasized that science, technology, innovation, and the Fourth Industrial Revolution are advancing rapidly and having profound, multidimensional impacts worldwide. These factors, she noted, are becoming decisive for national competitiveness.

"Digital technology and tech enterprises are central to any model of rapid, sustainable growth, driving the development of the digital economy and society while transforming government operations, business models, consumer behavior, and daily life.

The Ministry of Science and Technology reported that by the end of 2024, Vietnam had nearly 74,000 active digital technology companies, up 10.1% from the previous year. Around 1,900 of these earned revenue from foreign markets - an increase of 26.67% - with total overseas revenue reaching $11.5 billion, up 53.3%.

The information and communications sector generated an estimated $166.7 billion in total revenue in 2024, up 13.2% from 2023. Of this, the digital technology (ICT) industry contributed $151.86 billion, accounting for over 91% of sector revenue and 11% of GDP.

Quyen stressed that while results are encouraging, there is still significant room for growth, particularly in supporting industries such as electronic equipment manufacturing and information technology. In the context of the global Fourth Industrial Revolution, trends like green production, the circular economy, and large-scale digital transformation are reshaping global manufacturing.

Breakthroughs in AI, big data, cloud computing, and the Internet of Things (IoT) are revolutionizing production methods, distribution channels, consumer behavior, and management systems. These technologies are also key drivers of innovation, workforce restructuring, and the development of high-quality human resources with skills tailored to the demands of the new era, she commented.

“HCMC has introduced numerous mechanisms and policies to help businesses transform their production models, integrate digital technologies, and align with green production and green export strategies. These efforts aim to enhance the competitiveness and global standing of Vietnamese exports,” said Quyen.

Nguyen Anh Duc, vice chairman of the HCMC Informatics Association (HCA), said the event brings together 30 companies showcasing technology solutions across fields such as digital transformation, AI, big data, information security, e-commerce, smart management platforms, ERP and CRM systems, smart logistics, and blockchain and IoT applications.

According to Duc, the exhibition’s highlight is its interactive booths, where visitors can experience technologies firsthand - simulating smart production processes and operating management software and e-commerce platforms.

“This is not just a product showcase. It’s a networking space where businesses can find solutions, consult directly with experts, and explore cooperation opportunities,” said Duc.