Vietnam’s games industry is expected to see revenue of $1 billion by 2027, Mr. Le Hong Minh, CEO of VNG, told the Vietnam Games Summit on May 5, citing the burgeoning interest in games among young Vietnamese.

Mr. Le Hong Minh, CEO of VNG

“Vietnamese studios have international-standard products and VNG is developing its studios to reach global levels within the next five years,” he added.

Revenue for Vietnamese studios this year is expected to be $40 million in Vietnam. When adding revenue from sources such as AppStore, revenue is expected at about $80 million. Given that global market revenue is $80 billion, however, Vietnam accounts for just 0.1 per cent.  

Mr. Le Hong Minh gave advice to startups at the event, saying that “balancing success and the road we choose is one of the most romantic things in life.”

He also spoke of the difficulties in embarking on games or internet development in Vietnam, which are particularly challenging. “But the harder it is, the more passion you have,” he said.

This represent motivation for the Vietnamese games community to take long strides forward in globalization and change the face of the local games industry.

The Vietnam Games Summit was held by the Blue Bird Joint Stock Company and attended by leading games developers in the country. It aimed to create a forum for connecting those in the mobile games 

industry and to introduce opportunities for cooperation between businesses and startups to make games in Vietnam.

This year’s event saw the presence of major names such as VNG and startups such as Appota, VTC intecom, Divmob, Hiker Games, and VGames.

VN Economic Times