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IT industry posts annual growth rate of 25-35%
By Van Oanh - The Saigon Times Daily
Tuesday,  Apr 24, 2012,21:08 (GMT+7)

By Van Oanh - The Saigon Times Daily

HCMC – Software industry and IT services registered an annual growth rate of 25-35% in the past decade, three to five times higher than GDP growth rate, according to the Vietnam Software Association (VINASA).

Software sector recorded a ten-fold increase in revenue when it topped US$1.2 billion last year, said Pham Tan Cong, vice chairman of VINASA. If the booming revenue generated from digital content segment is included, the overall revenue peaked at US$2.3 billion in 2011, or 25 times higher than that ten years ago.

There were 120,000 employees working in software and IT services last year, a twenty-fold increase compared to 2002. The number of IT universities and colleges has surged to 277 with the enrollment of 169,000 students, including 56,000 fresh students enrolling annually.

Software and IT services human resource will develop in both quantity and quality in the coming time. There are a large number of IT giants employing over 500 people.

There are also several giants employing over 1,000 people such as FPT, VTC, Viettel and VinaGame. In particular, FPT Software Co. has become the biggest IT service provider in Southeast Asia with more than 3,000 employees.

The country has some 1,000 firms specializing in software outsourcing and IT services but most of them are small-sized businesses with 10-30 employees.

VINASA will celebrate its 10-year establishment this month. The association has 240 member enterprises, accounting for 60% of total industry employees and 70% of overall revenue generated from software industry and IT services.

It has held dozens of conferences and expos in the country and brought 25 groups of total 300 local enterprises overseas to seek opportunities within the past 10 years.

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