Most of the top tech firms in the country performed well last year, hitting revenue figures of VND374.4 trillion (US$16.7 billion) while employing around 93,000 people.

The Viet Nam Software and IT Services Association (VINASA) revealed the ranking in Ha Noi on Monday.

This year, aside from the selection of 50 leading IT companies, the organising board also picked up 10 outstanding enterprises in digital transformation, Internet of Things and new technology trends in the context of the Fourth Industrial Revolution.

VINASA said the IT businesses have strong growth and affects the trend in the market and IT sector in Viet Nam.

The programme, the fifth of its kind, picked prestigious IT firms in Viet Nam to introduce, promote, and connect with potential partners at home and abroad.

In the past the programme has supported many effective businesses, especially those operating in the fields of marketing, communications, and co-operation development.

Launched in June, the businesses are split into four sectors including business process outsourcing (BPO), IT Outsourcing (ITO) and knowledge process outsourcing (KPO); software, IT solutions and services; digital content, mobile application and solutions and 10 firms with outstanding technologies in the Industry 4.0 such as FPT, Viettel, VNPAY and MISA.

Those chosen have been pillars in the country’s IT industry with big potential such as Viettel, FPT, CMC.

Most of the firms say they have not only focused on business results but also paying attention to investment into new technologies as well as participating into digital transformation and applying advanced technologies to meet with the society’s demands.

For example, FPT is developing software for self-driving and would provide service for some big automakers in Japan and the Europe. Meanwhile, Viettel has developed new technologies into its products and solutions for projects of e-government, education, agriculture and smart cities.

In addition to big players in the IT market, the 10 outstanding businesses have also brought new solutions to society.

MISA Joint Stock Company’s representative told Viet Nam News it has introduced a range of products to help people save time and money while improving effectiveness in different sectors such as business administration software amis.vn, restaurant management cukcuk.vn and the first e-invoice solution using blockchain technology in Viet Nam – MeInvoice.vn .

“MISA would continue to study and apply modern technologies to help customers better integrate,” she said.

Viet Nam Payment Solution Joint Stock Company (VNPAY) has become the country’s first and only unit integrating payment methods using QR codes on mobile banking applications. As of July, QR Pay is available with the mobile apps of more than 17 banks in Viet Nam.

QR Pay has been considered one of solutions for the boom of non-cash payments in Viet Nam.

However, the leading firms have also revealed a worry for a serious shortage of IT human resources in the Fourth Industrial Revolution, especially the local ministries and organisations are striving to promote digital transformation.

The training and re-training of human resources for new technologies such as IoT, artificial intelligence (AI), robotic, blockchain and Big Data to be suitable with the development of a 4.0 society and digital economy have been a big challenges for the country’s IT sector.

Mai Liem Truc, former minister of Post and Telecommunications and head of the programme’s voting committee said with advantages of dynamic and young human resource, many Vietnamese IT firms have caught up with the global trends in the Fourth Industrial Revolution. They have been investing into new technologies.

“Applications developed on the Industry 4.0 technology foundation have seen breakthroughs. There would have more IT firms actively participate into the Industry 4.0 in the upcoming time, bringing a new image for Viet Nam’s IT sector in the world technology map,” he added.

A special publication entitled “Viet Nam’s 50 10 Leading IT Companies 2018” will be compiled in Vietnamese, English, and Japanese. — VNS