Bringing Vietnamese IT brands to the world: Need appropriate legal policies

About 20 years ago, the first Vietnamese information technology enterprises pioneered the international market, taking the first steps in the “Go-global” movement.

Up to now, in the field of software solutions and information technology services, Vietnam has had names known to many countries in the region and the world such as: Viettel, FPT, CMC, VMO...

At present, in order for more Vietnamese enterprises to go abroad to build their brands, it is necessary to build appropriate legal regulations and remove barriers so that enterprises and information technology products "made in Vietnam" can successfully "go abroad".

Pioneering Business Story

Since its establishment in 1993, CMC Corporation (CMC Corporation) has built a business development strategy based on many factors. In particular, to adapt to the development trend of technology, CMC Corporation has focused on 4 important pillars: Digital infrastructure; Technology and solutions; International business and Educational research.

Mr. Tran Tuan Thanh, Chief of Office of the Strategic Foreign Affairs Committee, CMC Technology Group shared that in order to invest abroad, it is necessary to first build a solid domestic pillar. In Vietnam, the digital infrastructure sector has been provided by CMC Group with many digital platforms such as: Data center services, cloud computing, information security, etc. In the field of technology and solutions, CMC has researched and developed many digital transformation solutions, accompanying government agencies and localities, to accelerate the digital transformation process.

Experience in exploiting foreign markets to serve CMC Group's "Go-global" strategy is to find ways to approach through the business association channel of the host country. From there, information is obtained to build a list of strategic customers suitable for its products. Based on information research, evaluation, and analysis of each customer, CMC Group will propose different approaches to achieve the proposed business goals.

In order to have competitive resources abroad, 10 years ago, CMC Corporation accelerated the process of researching core technologies by establishing the CMC Applied Research Institute. In 2024, the first class of students from CMC University will be an important human resource for businesses to penetrate deeply into the domestic and foreign information technology market.

By building human resource solutions, along with comprehensive models, providing information technology services to foreign partners, to focus on developing international business pillars, in 2017, CMC Corporation opened its first office in Japan. Up to now, CMC Corporation has established its third office and is calculating to continue expanding to the markets of the United States, Germany, the United Kingdom, etc.

VMO Holdings Technology Joint Stock Company (VMO Holdings) has been operating in the field of software and information technology services for 12 years. As a small and medium-sized enterprise with smart steps, the company is generating revenue from foreign markets.

Ms. Nguyen Khanh Diep - Deputy General Director of VMO Holdings Technology Joint Stock Company shared: When investing abroad, VMO Holdings encountered many difficulties. The most valuable lesson that every business needs to pay attention to is to choose the right market, carefully prepare resources and research the law and political institutions because each country has a completely different political and legal system. The experience of previous businesses is extremely valuable, so it should be consulted and utilized.

When going global, businesses not only expand their markets and create new development spaces, but also create an environment to train employees in developing knowledge and improving their expertise to be able to compete with leading domestic and foreign businesses. Ms. Nguyen Khanh Diep said that IT businesses going abroad are looking forward to the host country recognizing Vietnamese product brands. In this aspect, Vietnamese businesses really need the Ministry of Information and Communications to accompany them to be able to increase the recognition of Vietnamese IT brands in the region and globally.

Accompany, support, solve difficulties

In recent years, thanks to the support of state agencies, the Ministry of Information and Communications, the Ministry of Planning and Investment, etc., many digital technology enterprises have confidently entered the global market in many areas of the technology sector. However, Vietnam still lacks a legal corridor as a "springboard" and motivation for Vietnamese enterprises to enter foreign markets. Without a clear, appropriate, internationally recognized legal corridor, Vietnamese enterprises will not be protected by law when disputes arise or when they want to develop into a second or third market.

Mr. Vu Van Trung, Deputy Director of the Foreign Investment Department, Ministry of Planning and Investment, shared: To expand the foreign market, enterprises, whether large or small, need to pay attention to the legal issues of Vietnam as well as the host country and the legal issues that Vietnam has participated in related bilateral and multilateral relations. In addition, because the information technology sector is new to many countries, including Vietnam. Currently, Vietnam does not have clear and complete laws and regulations, but the Ministry of Planning and Investment's viewpoint is to support policies that are beneficial for businesses going abroad.

According to statistics from the Ministry of Information and Communications, as of October 2024, the country has more than 51,000 digital technology enterprises, about 1,540,000 employees, of which more than 500,000 are engineers. Currently, many large corporations and enterprises have built a digital product ecosystem "Make in Vietnam" and are working with Vietnamese digital technology enterprises to reach out to the world. To successfully "bring the bell to punch other countries", in addition to identifying the market and building strategies, Vietnamese enterprises need to pay more attention to enhancing the brand recognition of Vietnamese information technology (IT) products in foreign markets.

Mr. Nguyen Thanh Tuyen, Deputy Director in charge of the Department of Information Technology and Communications Industry, Ministry of Information and Communications, said that in recent years, the Ministry of Information and Communications has established a consulting team to accompany and act as a reliable partner for businesses going abroad. Thanks to that, the position of Vietnamese businesses has gradually increased. The Ministry also coordinates with units and businesses to participate in foreign exhibitions and supports businesses with excellent products to participate in trade promotion. In particular, every year, the Ministry organizes the appraisal, evaluation and honor of outstanding Made in Vietnam products through prestigious technology awards.

After going abroad, Vietnamese digital technology enterprises have grown rapidly in both quantity and competitiveness. Many digital products, services and solutions have been developed and perfected by enterprises to serve the national digital transformation, the development of the digital economy and digital society. Notably, by building a Vietnamese information technology (IT) brand in the regional and international markets, successful Vietnamese enterprises Go-global have been contributing to narrowing the gap with the international business community to join hands in building the digital world.

The Ministry of Information and Communications has identified that digital technology enterprises investing abroad need a focal point to receive proposals and recommendations on difficulties and challenges that enterprises have encountered in the process of developing foreign markets. In particular, it is necessary to focus more on promoting programs to encourage enterprises to participate in Vietnam's trade promotion programs abroad. In the coming time, the Ministry will make more efforts to perform its function as a focal point, accompanying Vietnamese information technology enterprises to overcome difficulties and successfully enter foreign markets.

According to VNA

Source: https://doanhnghiepvn.vn/cong-nghe/dua-thuong-hieu-cong-nghe-thong-tin-viet-ra-the-gioi-can-chinh-sach-phap-ly-phu-hop/20241101102836844