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Vietnam’s information and communication sector see December FDI drop

In December 2024, Vietnam’s information and communication sector recorded 18 new projects with US$33.26 million in newly registered capital, according to data from Vietnam’s Ministry of Planning and Investment. This marks a 21.74 percent decrease in the number of new projects compared to November, which saw 23 new projects with US$97.86 million in newly registered capital.

In 2024, the sector attracted a total of 235 new projects with US$281.68 million in newly registered capital.

Vietnam’s information and communication sector has grown rapidly, becoming a key driver of the country’s digital transformation and economic development. This sector includes telecommunications, IT services, software development, digital media, and broadcasting. With a young, tech-savvy population and increasing internet penetration, Vietnam has emerged as one of Southeast Asia’s fastest-growing digital economies.

Foreign direct investment (FDI) plays a critical role in this sector, with significant contributions from global companies like Samsung, Intel, LG, and Foxconn in high-tech manufacturing, and from IT giants such as IBM and Microsoft in software and digital solutions. Key areas of focus include the expansion of 5G networks, cloud computing, e-commerce, and smart city initiatives. Vietnam has also become a hub for IT outsourcing, attracting investors from countries like Japan, South Korea, and the United States due to its skilled workforce and competitive costs.

With ongoing infrastructure development, policy reforms, and rising demand for digital services, the information and communication sector is poised for sustained growth, positioning Vietnam as a regional leader in technology and innovation.

See also: Information Communications Technology in Vietnam

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