Opportunities for digital technology businesses to go global

Overseas investment of Vietnamese digital technology enterprises is gradually shifting to developed economies such as the US, the EU, Japan, the Republic of Korea and Singapore. (Photo: VNA)

Finding solutions and directions to promote and develop Vietnamese digital technology enterprises is an important task, which will promote the stability and sustainability of the country's economy, heard a recent conference.

Speaking at the conference on global digital cooperation, Deputy Minister of Information and Communications Phan Tam said that Vietnamese digital technology enterprises were entering a new stage of development, therefore, it was indispensable that they must be confident and proactively bring Make-in-Vietnam digital products and services to the world, solving problems of digital transformation and developing the digital economy to become global corporations and digital enterprises.

Developing the market, expanding co-operation and investing abroad was a glorious mission, but also posed many challenges, said the deputy minister.

To turn challenges into development opportunities, the Ministry of Information and Communications (MIC) has actively co-ordinated with State management agencies to issue many important documents for Vietnamese digital enterprises to develop the market and expand business co-operation with countries around the world.

Sharing at the conference, Deputy director of the Foreign Investment Agency under the Ministry of Planning and Investment Vu Van Chung said that the whole country has 1,720 investment projects abroad with total registered capital of 22.12 billion USD in 80 countries and territories by the end of last year.

In addition to traditional investment areas, overseas investment of Vietnamese digital technology enterprises is gradually shifting to developed economies such as the US, the EU, Japan, the Republic of Korea and Singapore. Investment in the fields of high technology, services, industrial production and industries with modern technical content is increasing significantly.

In particular, overseas investment in the field of information and communications alone had recorded 207 projects with total registered capital of 2.82 billion USD by the end of 2023, accounting for nearly 13% of total registered capital for investment abroad, Chung said.
Currently, Vietnam’s information and communications sector has invested abroad in 33 countries. Small-scale projects are still mainly focused on Singapore, Japan, the Republic of Korea and the US, while larger telecommunications projects are focusing on African countries.

Sharing more about creating development opportunities for digital technology businesses investing abroad, the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade said that, along with creating a foundation and legal corridor, as well as infrastructure to promote digital transformation, this unit has also created development opportunities for businesses investing abroad through a series of trade promotion activities to support the presence of digital technology businesses on the international market./.