Vietnam aims to have 5 tech firms with at least $1 bln annual revenue from overseas markets by 2030

Vietnam aims to have five technology companies achieve a minimum annual revenue of $1 billion from overseas markets by 2030, under a new prime ministerial decision.

This marks the first time the country has set a specific target for the number of technology companies achieving billion-dollar revenues from international markets.

If achieved, these companies will become the core force driving Vietnam’s digital technology industry into the ranks of the region’s leading technology-exporting nations.

Under the Prime Minister's Decision No. 982/QD-TTg dated June 4 approving the project on supporting and developing Vietnamese digital technology enterprises to expand globally by 2030, with a vision toward 2045, Vietnam targets to have at least 5,000 Vietnamese digital technology enterprises generate revenue from international markets in the next four years.

By 2030, export revenue from digital technology products and services is expected to reach a minimum of $55 billion annually, with an average annual growth rate of at least 30%. At least 60 Vietnamese digital technology enterprises will achieve annual overseas revenue of $20 million.

The country aims to successfully complete at least 25 mergers and acquisitions (M&A), joint ventures, or strategic cooperation deals between Vietnamese digital technology companies and international partners, each valued at $1 million or more.

Ambition to become a global digital tech hub

The vision for 2045 is even more ambitious, aiming to transform Vietnam into a highly developed digital technology nation and one of the leading digital technology hubs in the region and the world.

Under the project, by 2045 Vietnam will have at least 10 digital technology enterprises operating at a level comparable to those in advanced countries. The “Make in Vietnam” brand will become a globally recognized and respected digital technology brand.

Vietnamese digital technology enterprises are expected not only to master technology and markets but also to shape global digital technology trends, contribute to the development of international standards and digital ecosystems, and promote a fair, inclusive, and sustainable global digital economy.

This vision reflects Vietnam’s strategic shift from assembly and outsourcing toward research, innovation, and ownership of core technologies, while engaging deeper in establishing international technology standards.

Comprehensive support mechanisms for global expansion

To achieve these objectives, the project outlines a wide range of coordinated policy measures.

The government will review and improve laws related to investment, business operations, and the export of digital technology products. Administrative procedures will be streamlined and compliance costs reduced for companies expanding abroad.

A notable initiative is the study of preferential corporate income tax policies for digital technology enterprises. The government is also considering allowing expenses related to market research, trade promotion, customer development, and international market expansion to be treated as deductible business expenses.

The project places a strong emphasis on research and development of “Make in Vietnam” digital products based on strategic technologies such as artificial intelligence (AI), Internet of Things (IoT), big data, virtual reality (VR), and other next-generation digital technologies.

In addition, the government plans to explore sandbox mechanisms for sectors such as Fintech, AI, and IoT to accelerate the commercialization of new products and services.

Support for capital access, IPOs, and international M&As

One of the project’s key innovations is the establishment of financial support programs for digital technology companies seeking international expansion.

Under the initiative, enterprises will receive assistance in accessing venture capital funds, science and technology funds, and domestic and international financial institutions.

The government will also study mechanisms for credit guarantees, investment insurance, and support for companies preparing for public listings, IPOs, or capital raising in international markets

Regarding M&A, the project encourages Vietnamese technology companies to pursue M&A transactions to acquire core and strategic technologies, expand customer networks, and strengthen their ability to enter foreign markets.

Building a national digital technology brand

In addition to financial and technological support, the government has identified the development of a national brand for Vietnam’s digital technology industry as a key priority.

Planned tasks include developing a unified brand identity for Vietnam’s digital technology industry, organizing international communication and promotional campaigns, establishing a national digital pavilion on global e-commerce platforms, and hosting Vietnamese digital technology business forums in strategic overseas markets.

The project also aims to select at least five leading digital technology enterprises to serve as ecosystem leaders, helping small and medium-sized enterprises integrate into international supply chains.

With its ambitious goals and comprehensive support policies, Decision No. 982/QD-TTg is expected to provide a major boost to Vietnam’s digital technology industry, paving the way for the emergence of Vietnamese technology unicorns and billion-dollar technology corporations competing on the global stage in the decades ahead.