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(Photo: NTQ Solution)

They either had important positions at large businesses or a good career overseas. They shared the same view that Vietnamese engineers could implement international projects well, but only a few Vietnamese businesses had dared to enter foreign markets.

They all then decided to return to Vietnam, and together with people with the same purposes in life, decided to build ‘Make in Vietnam’ technological products for export.

NTQ Solution was established in 2011. NTQ stands for the first letters of the name of the restaurant – Nha Toi Quan -  where they met and discussed how to start a business. Later, it had another meaning, Next Top Quality, with the ambititon that Vietnam’s companies would deploy global quality standards.

After the establishment, NTQ Solution focused on making software products. The hotel administration software was developed to help small hotels and guesthouses improve their administration.

However, the software did not bring the desired effects after one year of sale. This was because the domestic market in 2010-2011 was adversely affected by the global recession which affected purchasing power. At that time, businesses tried to reduce expenditures, and their budgets for IT solutions were modest.

In such conditions, NTQ Solution founders decided they needed to seek opportunities in the international market.

Just a short time later, NTQ found its first clients in the UK and Australia.

In addition to creating finished products, NTQ also did outsourcing.

Japan was soon identified as a target market for NTQ, partially because the founders had many years of studying and working there.

The first Japanese client of NTQ Solutions was an SI (system integrator) who wanted to seek a partner for outsourcing to optimize its costs and expand its market.

In 2016, NTQ Solution set up NTQ Japan, one of the first Vietnamese firms in the market. In 2023, NTQ became one of a few Vietnamese companies setting up offices in Tokyo, the economic and political center of Japan.

Global IT Service Provider

Of the stages in the software export value export and IT service chain, NTQ can undertake work with high value, such as consultancy, system design, operation and transformation, not just outsourcing. 

And it cherishes the ambition of not only entering markets with cultural similarities, but also countries with different cultural values and high technological requirements.

“NTQ is one of the Vietnamese pioneering IT firms in the South Korean market, and it is now one of the rare IT firms present in Hong Kong, a market with large clients and global corporations,” said NTQ Solution CEO Pham Thai Son.

“NTQ can cooperate with them in stages which bring high value, such as in-depth consultancy. Also NTQ has expanded its business and build up fame in the European and American markets,” he added.

Most recently, NTQ Solution and SB Technology, a subsidiary of SoftBank Corp (top 3 technology and telecommunications in japan) have signed a cooperation agreement on establishing a technology development center in Vietnam. It is expected to become the place to gather 300 highly qualified workers in the next three years.

To date, NTQ has set up seven offices in six countries and regions (Vietnam, Japan, South Korea, Hoang Kong (China), Europe and the US). Its 1,300 workers are serving 350 clients and 760 international projects. It obtained turnover of $28 million in 2023 and its productivity was $24,000 per head per annum.

Robots, UAVs

In 2013, NTQ set up its R&D Center. Its engineers have created many ‘Made by NTQ’ technological products. Even on its most difficult days, NTQ was willing to spend hundreds of millions of dong on researching and developing robots and UAV (unmanned aerial vehicle).

NTQ Solution has been developing more than 20 ‘made by NTQ’ products, including a solution for digital transformation for DentalFlow, which is being used by more than 400 consulting rooms in Vietnam.

We also provide e-commerce, edtech, HR Tech and IoT products and solutions. In 2023, NTQ exported 100,000 IoT products to Japan.

One year ago, NTQ successfully developed a Generative AI product, and internally deployed ChatNTQ.

Binh Minh