Vietnam - Vietnam's leading information and communication technology (ICT) enterprises, including Viettel, VNPT, MobiFone, FPT, CMC, and VNG, are at the forefront of the nation's ambitious digital transformation, propelling Vietnam onto the global technology stage. These companies have not only revolutionized domestic telecommunications and IT infrastructure but are also expanding their influence internationally, showcasing Vietnam's growing technological prowess.
Viettel: Democratizing Telecommunications and Pioneering 5G
In the late 20th and early 21st centuries, Vietnam's telecommunications sector was characterized by high costs, making mobile connectivity a luxury for most citizens. The entry of Viettel into the market in 2000 marked a turning point. Initially focusing on VoIP services, Viettel dramatically reduced long-distance call rates, making communication more affordable.
The launch of Viettel's mobile services in 2004 triggered a rapid expansion of mobile penetration, surging from a mere 5% to over 100% and establishing Vietnam as one of the world's fastest-growing mobile markets. This success at home paved the way for Viettel's international expansion, which began in 2006. To date, Viettel has established a presence in 10 countries across Asia, Africa, and the Americas, serving nearly 100 million subscribers and holding the top market share in six of these nations.
Viettel has also been a key driver in advancing Vietnam's technological capabilities. The company's development of 4G and 5G technologies positioned Vietnam among the first five countries globally to successfully trial 5G in 2019. Notably, Viettel is one of only a handful of telecom operators worldwide with the capability to both operate and manufacture its own 5G equipment. Continuing its innovation trajectory, Viettel is now focusing on cloud computing and data storage solutions, aiming to provide secure and accessible digital infrastructure for all Vietnamese citizens and enterprises.
VNPT: Building the Foundation for a Digital Nation
Founded in 1975 from the restructuring of the national post office, Vietnam Posts and Telecommunications Group (VNPT) has undergone a significant transformation to become a modern ICT leader. By 2003, VNPT had already surpassed national targets for telephone density, reaching 7 million subscribers. A pivotal moment came in April 2008 with the launch of VINASAT-1, Vietnam's first communications satellite, which significantly enhanced the country's ICT infrastructure and broadcast capabilities.
In 2014, VNPT strategically shifted its focus from a traditional telecom operator to a digital service provider, with the ambition of becoming Vietnam's premier digital provider and a regional digital hub. The company is actively developing comprehensive digital ecosystems across crucial sectors such as education, healthcare, tourism, agriculture, and environmental management.
VNPT has played a crucial role in the development of e-Government, digital government, smart city initiatives, and digital economy solutions. A significant achievement is the company's close collaboration with the government on large-scale national databases, including the National Population Database, which covers over 100 million citizens across 11,000 communes. This project has been lauded as a historic milestone in Vietnam's digitalization efforts.
MobiFone: Pioneering Mobile Connectivity in Vietnam
As the first mobile operator in Vietnam, launched in 1993, MobiFone introduced GSM technology to the country, setting the stage for the mobile revolution. Through a partnership with Comvik/Kinnevik of Sweden, MobiFone leveraged international expertise to establish its network.
In its inaugural year, MobiFone demonstrated strong financial performance, generating $2.2 million in revenue and a pre-tax profit of $366,000, making a significant contribution to the state budget during a period of economic transition. Over the years, MobiFone has sustained profitable growth and has evolved from a pure-play telecom company into a digital service provider. The company remains committed to being a key driver of Vietnam's national digital transformation and economic advancement.
FPT: From IT Outsourcing to Global Tech Innovation
Established in 1988, FPT (originally the Food Processing Technology Company) has grown to become Vietnam's leading IT company, initially focusing on building ICT infrastructure for vital sectors. After facing early challenges in international expansion, FPT achieved significant success in the Japanese market starting in 2005, which paved the way for further global expansion with offices in Singapore, Europe, and the United States.
In 2023, FPT's global IT services revenue reached $1 billion, solidifying its position as a prominent player in the global IT services landscape. Looking ahead, FPT is strategically focusing on five key technology areas: Artificial Intelligence (AI), Semiconductors, Automotive Technology, Digital Transformation services, and Green Technology. With an ambitious goal of reaching $5 billion in revenue by 2030, FPT continues to be a driving force in Vietnam's digital future, while also spearheading advancements in AI and technology exports.
CMC: Evolving into a Diversified Technology Conglomerate
Founded in 1993 as a computer manufacturer, CMC Corporation has strategically diversified its operations to include software services, IT infrastructure, and telecommunications. The launch of CMC Global in 2017 marked a significant step in the company's international expansion, focusing on software exports and IT services.
In 2024, CMC unveiled its "Enable Your AI-X" strategy, demonstrating its commitment to accelerating the adoption of AI across various industries and strengthening Vietnam's position in the global IT ecosystem. CMC is actively expanding its presence in Europe and the United States, with the aim of becoming a billion-dollar company with a global workforce exceeding 10,000 employees by 2028.
VNG: From Gaming Pioneer to Tech Unicorn
VNG Corporation, established in 2004 as a game publisher, rapidly diversified its portfolio to become Vietnam's first tech unicorn, achieving a valuation of $1 billion. Today, VNG's business encompasses a wide range of digital services, including online games, social media platforms, payment solutions, and cloud services.
Zalo, VNG's popular messaging application, has become an integral part of daily life for over 75 million active users in Vietnam. VNG's success in fostering technological innovation has solidified its reputation as a pioneering force in the country's digital services sector.
Driving Vietnam's Digital Future
The remarkable growth and innovation of Viettel, VNPT, MobiFone, FPT, CMC, and VNG underscore the dynamic nature of Vietnam's ICT sector. These companies have not only made significant contributions to the domestic economy by enhancing connectivity and driving digital adoption but are also increasingly making their mark on the global stage. As they continue to invest in cutting-edge technologies and expand their international reach, these ICT giants are positioning Vietnam as a rising force in the global technology landscape, paving the way for a digitally empowered future.
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