As a developing country with a large population, Vietnam turns out to become the next destination for many investors, especially in a fast growing sector like ICT. However, many investors had been trapped in local dot-com bubble in 2007, as they don't know much about this market. This is an extremely important factor since Vietnam policy is not mature enough, and the more you understand about the market, the more successes you can get. So if you are now an investor, what should you invest in to get much in a short time?
At first, take a glance at Vietnam ICT industry in 2009
- Telecom: $8.1 billion USD (~150.000 billion VND), 62% growth compared to 2008. Mostly from mobile service and ADSL and controlled by large own-state corporations VNPT, Viettel
- Information Technology: $6.26 billion USD, 20% growth
+ Hardware: $4.68 billion USD, 14% growth
+ Software: $0.88 billion USD, 30% growth. Mostly from outsourcing and local software market
+ Online content & services: $0.7 billion USD, 58% growth. Mostly from SMS, online games...
At first, take a glance at Vietnam ICT industry in 2009
- Telecom: $8.1 billion USD (~150.000 billion VND), 62% growth compared to 2008. Mostly from mobile service and ADSL and controlled by large own-state corporations VNPT, Viettel
- Information Technology: $6.26 billion USD, 20% growth
+ Hardware: $4.68 billion USD, 14% growth
+ Software: $0.88 billion USD, 30% growth. Mostly from outsourcing and local software market
+ Online content & services: $0.7 billion USD, 58% growth. Mostly from SMS, online games...
This statistic seems to be very interesting, isn't it? But as the industry grows quickly, investors have to catch up with latest trends to solve effectively their main investment problems.And to me, here are some trends will likely to happen in 2010 or later
- The convergence of software and online content companies: Some popular software companies like Misa, Lacviet... are moving toward online because they see it as a way to spur the market coverage. And this may become a threat to some companies offering similar services
- The online services may compete back the telecom: As when some VOIP technologies are mature enough, together with the mobile Internet become immensely popular, user can make a call via the Internet directly instead of the mobile service provider and this may lead to unpredicted situations. It will be prevented by the government or a new industry surround this will be created
- The participation of MNCs (multi-national companies) to Vietnam market: With a large number of Internet users and the popularity of Internet, Vietnam has become a very attractive market for multi-national giants like Google, Yahoo, Facebook... Lots of them already have already finished a localized version for Vietnamese and make this market become rougher. Some local companies doing the same services are not strong enough to compete and may soon disappear
If you have a large budget and plan for a long-term investment, Telecom or Hardware will be a good choice to keep your money growing at a basic level. If not, Software and Online services are prospective for bringing you many quick successes in a short time, but it is definitely more risky as there are also other local competitors with a normal budget and have the same though with you. So the winner will be who can make the smartest choice. There are so many elements for making a smart choice, but here are some of mine
- The convergence of software and online content companies: Some popular software companies like Misa, Lacviet... are moving toward online because they see it as a way to spur the market coverage. And this may become a threat to some companies offering similar services
- The online services may compete back the telecom: As when some VOIP technologies are mature enough, together with the mobile Internet become immensely popular, user can make a call via the Internet directly instead of the mobile service provider and this may lead to unpredicted situations. It will be prevented by the government or a new industry surround this will be created
- The participation of MNCs (multi-national companies) to Vietnam market: With a large number of Internet users and the popularity of Internet, Vietnam has become a very attractive market for multi-national giants like Google, Yahoo, Facebook... Lots of them already have already finished a localized version for Vietnamese and make this market become rougher. Some local companies doing the same services are not strong enough to compete and may soon disappear
If you have a large budget and plan for a long-term investment, Telecom or Hardware will be a good choice to keep your money growing at a basic level. If not, Software and Online services are prospective for bringing you many quick successes in a short time, but it is definitely more risky as there are also other local competitors with a normal budget and have the same though with you. So the winner will be who can make the smartest choice. There are so many elements for making a smart choice, but here are some of mine
- Have a good technical team and a strong tech leader: I have met many investors so far and most of them often don't think the technical is important to the success of the company. However, remember that Vietnamese are able to copy and clone an online product very quickly. So having a strong technical team is what will keep you ahead of other competitors and achieve sustainable growth in a long time.
- Broaden your relationship: Vietnam is an oriental as well communist country. No matter how much money you have, relationship is still the most important element for you to success in this society. The more relationship you have, the more smoothly your work will go
- Understand Vietnamese culture: I have seen many foreign companies failing, just because they don't understand enough Vietnamese culture. So having a good CEO Assistant Vietnamese will help to build and harmonize a multi-culture environment
- And also some other things, you can find in my previous article http://ngonpham.blogspot.com/2009/05/vi-sao-web-20-vn-chua-kiem-uoc-tien.html
No matter what happens, I still believe Vietnam ICT industry is really potential to invest in, at least in the next 10 years, as government has determined to develop it into a strong ICT country. So if you are an investor or a just a potential investor, why don't you think for making a deal? :)
Xem đầy đủ bài viết tại http://ngonpham.blogspot.com/2010/01/vietnam-ict-some-useful-tips-for.html
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