Other companies in the list include Vietnam Posts and Telecommunications Group (VNPT), MobiFone Telecoms Corporation (MobiFone), CMC Corporation (CMC),  Telecommunication Services Corporations (VNPT-Vinaphone), Vietnam Technology & Telecommunication JSC, Hanel Communications JSC, Vietnam Maritime Communication and Electronics Single Member Limited, and Tien Phat Technology Corporation.

Meanwhile, the list of top 10 software services, solutions and system integration providers in 2023 include FPT Software, FPT Information System Corporation (FPT IS), Misa JSC, VNPT Technology, CMC Technology & Solution Company Limited, and Elcom Technology Communications Corporation, FSI Technology Development and Trading Investment JSC, HPT Vietnam Corporation, Joint Stock Company for Telecom and Informatics, and HIPT Group Joint Stock Company.

The lists were made in an objective and independent manner, basing on the results of the financial capacity assessments of the enterprises as well as their reputation evaluation using Media Coding method and surveys with relevant parties between May and June.

Vietnam Report General Director Vu Dang Vinh said that amid emerging challenges and unpredictable developments in the world macro-economic situation, the ICT sector still showed strong growth and continued to be a bright spot in the Vietnamese economy in 2022.

He cited a report by the Ministry of Information and Communications as saying that the ICT sector's revenue reached 148 billion USD, a rise of 8.7% year on year, while about 70,000 new firms was established in the year, up 9.5%.

Four years since the "Make in Vietnam" campaign was officially launched, ICT has become the driving force of the country, playing a leading role and creating a foundation for the development of digital economy, digital society and digital government.

The sector’s contribution to GDP as well as the export turnover of hardware - electronics also saw a rise compared to 2021.

However, since late 2022 and the beginning of 2023, the ICT sector has faced many difficulties due to economic recession.

As of March, the sector’s revenue was estimated at nearly 845.58 trillion VND (36 billion USD), equivalent to 20% of the yearly plan. Meanwhile, exports of hardware and electronics products reached about 26.6 billion USD, down 9.5% year on year.

Vinh said that Vietnam Report’s survey showed that all ICT businesses and experts did not expect strong growth of the sector, with 71.4 % predicting continuous growth and 28.6% forecasting a downturn in the second half of the year.

The survey pointed out major difficulties facing the sector in 2023, including those in human resources, legal regulations, competitions among businesses and capital access.

In order to maintain growth in the current difficult context, ICT businesses were advised to maintain their development goals, along with balanced and comprehensive action strategies regarding technology, process, and people-related issues.

Vietnam Report suggested six prioritised strategies in 2023, including improvement of competitiveness, enhancing high-quality human resources, and increasing research and development activities, improving the reputation and image of the businesses in the media, enhancing the efficiency of the management system, especially the risk management system and upgrading the information technology infrastructure./. VNA