Spire Talks About Vietnam�s Emerging ICT Sector

Gurugram, India, February 09, 2019 –(PR.com)– Spire was honored to participate at the GATES Vietnam ICT Reseller Channel Summit 2018 as a Research Partner. The Summit was held on 4-6 December, 2018 in Vietnam. Japnit Singh, Deputy Chief Executive Officer at Spire Research and Consulting, shared his insights on Vietnam�s booming ICT sector, focusing on market trends and growth strategies.

Singh discussed the digital landscape in Vietnam for e-commerce, e-payments and government policies for Information and Communications Technology (ICT).

Vietnam’s fast-growing population will boost domestic demand. Vietnam’s middle-class is set to rise to 33 million by 2020. Vietnam’s stock of Foreign Direct Investment (FDI) reached around USD18 billion in 2017; up approximately 11% from 2016.

Revenue from telecommunication services for the first 6 months in 2018 amounted to VND189,948 billion and VND1,026,000 billion for the IT sector.

E-commerce has been on the rise. Facebook website stores are among the top three sales channels in the country and expected to grow further. However, cybersecurity is still a crucial gap, with losses of around VND12 trillion due to cyber-attacks in 2017.

Nonetheless, customers still prefer Cash on delivery (COD) as the preferred payment mode for e-commerce, at 80%.

The government has also put in place policies to promote the ICT sector, including tax, land and other financial incentives for companies and individuals.

https://www.spireresearch.com/newsroom/events/spire-talks-about-vietnams-emerging-ict-sector/