Over the past year, technologies created by VNG have deeply participated in the digital transformation process and national digital economic development, persistently pursuing the goal of becoming a global technology company originating from Vietnam.
VNG is one of two Vietnamese technology enterprises contributing over 1,000 billion VND to the state budget in 2023, and is proud to rank 28/100 in the list of private enterprises with the largest budget contribution in Vietnam with 1,132.5 billion VND (according to CafeF).
Comprehensive digital transformation bridge
With a diverse and comprehensive product ecosystem, products and applications developed by VNG are being used regularly by tens of millions of Vietnamese agencies, businesses and users every day.
According to a report released by the Ministry of Information and Communications in November 2024, the "made-in-Vietnam" messaging application Zalo has surpassed major international platforms such as Facebook, TikTok and Google to become the most popular messaging application in Vietnam with 77.6 million users. The popularity and "understanding" of the habits and usage needs of domestic users have helped Zalo successfully fulfill its role as a "digital bridge" between state agencies and people, as well as between people and businesses. By the end of 2024, 17,273 Official Accounts (Zalo OA) of state agencies and public utility units (schools, health care, etc.) had been established and identified, covering 63 provinces and cities across the country. With more than 40.7 million followers, Zalo OA has become the most effective and fastest information channel to reach people across the country.
Besides Zalo, VNG's Business Products and Solutions (B2B) groups are also accelerating rapidly in catching up with the national digital transformation trend. In the second quarter of 2024, VNG cooperated with ST Telemedia Global Data Centers (STT GDC) to build and operate international standard data center projects in Ho Chi Minh City. STT GDC is currently the world's leading data center developer, operating more than 95 international standard data centers worldwide. This cooperation is expected to combine global operational capacity with local experience, "upgrading" the data center market in Vietnam to a new standard level approaching the world, supporting the national digital transformation journey.
At the same time, VNG is also providing cloud services to more than 1,000 corporate customers, protecting assets and data of more than 70 million mobile devices in Vietnam and recording 35 banks and financial institutions using eKYC electronic identification solutions.
Breakthrough with AI, proving the capacity and operating speed of Vietnamese AI engineers
At the General Meeting of Shareholders (AGM) in June 2024, VNG identified Artificial Intelligence (AI) as an inevitable trend in the world and will be one of the three new strategic pillars of the company in the coming years. With more than 300 AI engineers and experts, VNG is researching and building AI in all three layers: infrastructure, platform and application, with a very clear goal: to become the leading enterprise in Southeast Asia in terms of investment, research and commercialization of AI.
Regarding infrastructure, in June 2024, VNG launched the GreenNode AI Cloud data center in Bangkok (Thailand). This is one of the first large-scale AI Cloud data centers in Southeast Asia, put into operation after just over 5 months of project implementation, demonstrating the team's impressive operational capacity and commercialization speed. As a preferred cloud partner of NVIDIA (NVIDIA preferred Cloud Partner), GreenNode is providing AI solutions and cloud infrastructure to businesses across the region, bringing in tens of millions of USD in revenue from foreign markets in the first months of operation.
For the foundation layer, since the end of 2023, the language model larger than 7 billion parameters Zalo LLM has been assessed to reach 150% of GPT-3.5 capacity, according to the VMLU Vietnamese Language Proficiency Assessment Standards. At the application layer, Zalo is also actively applying and commercializing GenAI technology (generative artificial intelligence) when exploring the possibility of cooperating with businesses to deploy breakthrough AI marketing - advertising campaigns. Last October, the mobile marketing platform - Adtima and Zalo AI won three awards in the categories of "AI Marketing" and "Industry Awards" at the MMA SMARTIES Vietnam 2024 awards ceremony thanks to the creative and effective application of AI in marketing.
Notably, after 4 years of launch, the Vietnamese smart virtual assistant Kiki Auto developed by the Zalo AI team has officially reached 1 million installations and uses in cars.
Promoting the digital economy so that “no one is left behind”
It can be said that 2024 marks a breakthrough year for Zalopay, VNG's Payment and Finance product line with a brand repositioning milestone in early July. With the orientation of becoming an open payment platform, not bound by the traditional e-wallet model, Zalopay is increasingly perfecting its payment and personal finance product ecosystem for Vietnamese users, for the belief in a "cashless Vietnamese society".
In particular, the multi-function Zalopay QR product can be considered the flagship product and has achieved a lot of success for Zalopay in the past year. The product has achieved remarkable growth when recording a total transaction value increase of up to 15 times compared to 2023. This is currently the leading payment method at more than 12,000 store and service chains nationwide and has brought Zalopay many prestigious awards such as "Top 10 Good Vietnamese Products - For Consumer Rights 2024" (Institute of Science for Economic and Cultural Human Resources Development & Vietnam Consumer Protection Center), "Digital transformation products and solutions for the community" at the Vietnam Digital Transformation Awards 2024 (Vietnam Digital Communications Association, Ministry of Information and Communications).
At the end of November 2024, Zalopay pioneered the organization of Vietnam's first digital payment exhibition and shopping super festival at Nguyen Hue walking street (HCMC). The event had the participation of more than 30 brands and retailers, attracting more than 172,000 visitors and nearly 25,000 successful payment orders via multi-function QR code. Notably, the international Multi-function QR version was launched for the first time at the Exhibition, allowing international visitors to pay directly via linked payment applications without having to exchange money. The product is expected to create a new boost for the City's tourism in particular and Vietnam's tourism in general, especially during the peak tourist season for foreign visitors.
In addition to the Multi-function QR code, in 2024, Zalopay will also continuously "launch" a series of personal financial products, serving the diverse needs of users with a very low "starting amount". For example, the Securities Account product in cooperation with DNSE Securities has recorded about 350,000 new accounts opened from Zalopay after 5 months of launch, showing the potential of the model of "investing in stocks from only 01 stock".
After more than 6 years of development, Zalopay is currently serving more than 16 million users, providing a product portfolio of more than 100 convenient services. In October 2024, ZION Joint Stock Company (the parent company of Zalopay payment application) was honored by NAPAS in the category "Leading payment intermediary in total transaction value - Member of the Year".
VNG’s core and oldest business segment – Games – continues to demonstrate the prominent position of games in the digital economy. By the end of Q3/2024, total bookings of the game segment reached VND 5,606 billion, of which 26% were bookings from the international market. More than 77 million users are playing games regularly every quarter.
In 2024, VNG cooperated with a series of "giants" of the global gaming industry such as Roblox, NCSOFT to release "blockbuster" games in the domestic and regional markets, affirming its position as the leading game publisher & developer in Southeast Asia. In May 2024, VNGGames was honored to receive the title "Publisher of the Year" from the Ministry of Information and Communications at the Vietnam Game Festival - Vietnam Gameverse 2024.
VNG is also working to promote the Vietnamese eSports industry. In August 2024, VNGGames and Riot Games signed a strategic partnership to develop an eSports tournament system for League of Legends by 2025, with the goal of bringing a large-scale League of Legends tournament across Asia-Pacific, gathering the top teams in the region, including Vietnam. At the same time, VNG is also a sponsor and organizer for many professional eSports tournaments in Vietnam, contributing to the development of the national eSports community and ecosystem.
With a market value expected to reach 1.8 billion USD by 2025 (according to Newzoo), eSports is currently a field attracting millions of players and viewers worldwide. Accordingly, Southeast Asia owns about 310 million players, officially becoming the fastest growing gaming market globally. In Vietnam, the eSports player community is also growing strongly. The report of the General Department of Sports and Physical Training in 2023 shows that there have been more than 10 major eSports tournaments held in Vietnam with a total prize value of up to hundreds of billions of VND.
VNG's 20-year journey is also a journey of persistently fulfilling its responsibility to the community and society. For many years, Zalo has always played a proactive role in cooperating and supporting state agencies, ministries, and localities. During the Yagi storm in September 2024 alone, Zalo supported the Department of Dyke Management and Natural Disaster Prevention and Control to send more than 143 million messages updating information and instructions on storm and flood prevention through Zalo OA "National Steering Committee for Natural Disaster Prevention and Control". Zalo also quickly turned on the Zalo SOS feature to help people in provinces affected by the storm update their personal status. In just 10 days, Zalo SOS recorded about 1 million people updating their safety status, 151,000 people connecting for support, and 87,000 people making emergency contacts.
Also during this time, Zalopay cooperated with Nguoi Lao Dong Newspaper to receive nearly 3 billion VND through the Donation Portal feature for the project "Supporting compatriots affected by storm No. 3". Following the success, for Tet 2025, Zalopay became the main donation channel for the project "Spring Bus Trip 2025" with the Ho Chi Minh City Labor Federation and Nguoi Lao Dong Newspaper, with the goal of giving 400 bus tickets to take workers home for Tet.
With the core game segment, VNG is a Strategic Partner of the Vietnam Entertainment E-Sports Association (VIRESA), coordinating the development of a system of professional tournaments and accompanying national athletes in international arenas. At the SEA Games and most recently the 19th ASIAD, VNG directly participated in the selection and support of athletes to participate in training, competition and competition.
In early July, VNG and the Posts and Telecommunications Institute (PTIT) officially announced their cooperation in training and developing human resources for the Vietnamese gaming industry, together with the Academy to build a systematic gaming training program that is close to reality and suitable for the recruitment needs of the market. This is the first time that gaming has become an official training major at a regular university in Vietnam.
In the first 9 months of 2024, VNG recorded a cumulative revenue of VND 6,892 billion, contributing more than VND 700 billion to the state budget. In the upcoming journey, VNG is determined to continue promoting strategic spearheads such as AI; expanding the market, bringing Vietnamese technology to the international level, while always ensuring social responsibilities, persistently pursuing the goal of developing valuable technology for Vietnamese and regional users.
Looking Back at 2024 is a special content series on the VNG website to summarize the outstanding achievements of VNG and its product lines in 2024. The series depicts the creative journey and persistent efforts of the VNG team in a year full of difficulties and challenges as well as honoring the positive community values that VNG's products bring to society. |
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
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