Vietnam’s technology sector is rapidly evolving, positioning the nation as a rising powerhouse in the global digital economy. Once known primarily for manufacturing and assembly, Vietnam is now harnessing cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), 5G and 6G networks, blockchain, and semiconductors. This transition is underpinned by a mix of government initiatives, foreign investment, and a skilled workforce, all contributing to a dynamic and expanding tech landscape that is reshaping Vietnam’s global role.
Vietnamese firms are deliberately shifting focus from traditional manufacturing to value-driven innovation and core technology development. Industry leaders frequently highlight this era as a golden age of breakthroughs, with many companies mastering key digital technologies and aiming for global scale. AI and data science, in particular, are central to creating smarter and more adaptive digital solutions tailored to meet the increasing demands of a digitized economy. Alongside these developments, the expansion of mobile networks into 5G and preliminary research into 6G technologies build a critical digital infrastructure that enables new applications and services. Blockchain technology, cybersecurity, and chip manufacturing are emerging as vital components, diversifying the country’s tech portfolio and boosting its global competitiveness.
Vietnam’s tech giants are making notable international strides, demonstrated by remarkable financial growth in markets such as Japan. Between 2020 and 2024, Vietnamese IT companies doubled their revenue in Japan from $672 million to $1.345 billion, reflecting not only business expansion but also significant job creation with nearly 8,000 new employees. This growth mirrors a broader trend of Vietnamese digital enterprises strengthening their global footprint by leveraging innovative products and enhanced capabilities to secure international contracts and partnerships. The government’s push to digitize public services and infrastructure further creates an ecosystem that fuels innovation and scalability on a nationwide scale, allowing both public and private sectors to ride the wave of digital transformation.
Vietnam’s appeal as a destination for tech investment has surged as major global corporations increasingly channel capital into the country. Investors are attracted by Vietnam’s expanding digital infrastructure, strategic geographic location, and improving business environment. This influx of investment demonstrates confidence in Vietnam’s potential to transition from an assembly hub to a global innovation center. The government actively supports this vision with initiatives promoting the widespread rollout of 5G, space technology investments, and broadband expansion, all paving the way for advanced technology development. Such a strategic push holds promise for sustainable growth, helping Vietnam avoid the middle-income trap by fostering a knowledge- and innovation-based economy.
Despite these impressive advances, challenges remain. To sustain global competitiveness, Vietnamese firms must bolster collaboration both domestically and internationally, enhancing sales channels, innovation pipelines, and market access strategies. Continuous upgrading of operational processes and workforce skills is essential to keep pace with rapid global tech advances. There is also a need for better media support to raise awareness among local companies about lucrative foreign markets, encouraging more aggressive outbound expansion and knowledge exchange. Furthermore, experts warn against Vietnam becoming a mere manufacturing or assembly center once again. Without a sharp focus on value-added innovation and environmental responsibility, the risk is that long-term growth and sustainability could be stifled, limiting Vietnam’s potential in the global tech arena.
Complementing the technology sector’s rise is Vietnam’s commitment to a greener, more digitally driven economy. Several Vietnamese companies increasingly integrate sustainability into their growth strategies, which is attracting investor attention and reflected in rising stock values linked to green initiatives. The digitization of tangible assets into virtual ones opens new business models and growth opportunities, injecting further dynamism into the digital economy. This trend aligns with wider national ambitions to elevate Vietnam’s international standing by leveraging talent, technology, and innovation to create sustainable and inclusive economic development pathways.
In essence, Vietnam’s technology firms are successfully embracing strategic technologies and supportive ecosystems to break new ground globally. By betting on AI, IoT, advanced telecommunications, and emerging tech fields, the country is transitioning from assembly-based manufacturing to innovation-led growth. Robust government backing and foreign investments complement these efforts, enabling infrastructure growth and market expansion. Yet, maintaining and scaling this success demands enhanced collaboration, continuous innovation, and a clear strategic direction to avoid falling into low-value roles while promoting sustainable and inclusive economic progress. The digital tech sector in Vietnam is swiftly becoming not just a national asset but a significant global player, shaping the future of technology worldwide.
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