Monday, September 10, 2012

Vietnam spends more on IT

Vietnam’s spending on information technology (IT) is growing at an average rate of 17% per year, almost hitting US$3 billion in 2011 and forecast to reach US$3.5 billion in 2012 if the tempo is maintained.
Speaking at a workshop on Vietnam information and communication technology held in HCMC on Wednesday, Nguyen Trong Duong, head of the IT department under the Ministry of Information and Communications, said Vietnam’s IT spending had been rising sharply in the last five years, despite economic uncertainties.
According to the White Book of IT released on the same day, Vietnam’s IT spending is surging by some 17% every year, amounting to US$2.9 billion in 2011, twice as much as the figure of US$1.4 billion in 2006.
Hardware and software make up a large proportion in the structure of IT spending in Vietnam, reaching 88% in 2006. However, the proportion of spending on hardware is gradually shrinking, standing at around 84% in 2011, equivalent to US$2.4 billion, while spending on software and IT services keeps picking up.
Moreover, Vietnam’s hardware export has been growing over the past years. In 2011, hardware and electronic products brought in US$11.3 billion, up 101% against 2010, accounting for 82% of the total revenue of the IT industry.
This impressive growth is attributed to the export revenues of Samsung, Canon, Panasonic, Foxcomm and Nokia, whose factories in Vietnam have been completed, allowing them to boost export of hardware and electronic products.
Export turnover of computers, electronic products and components, and telecom devices totaled US$10.89 billion in 2011, rising more than 92.2% year-on-year. For the first time, export turnover surpassed import turnover, resulting a trade surplus of US$428 million for the industry.
Cell phones generate the highest export revenue, making up 60% of the total turnover.
While hardware export records significant growth, telecommunications, which is seen as a gold mine for enterprises, witnesses its growth slowing down. The industry obtained unsatisfactory revenues last year because citizens and businesses cut spending on telecommunications.
Specifically, the total revenue of the telecommunications sector was US$7 billion in 2011, down 26% against 2010. Notably, revenue of mobile phone services dropped from US$5.7 billion to US$5.4 billion, but still accounted for 77.5% of the total revenue.
http://businesstimes.com.vn

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1 comment:

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